Sharp bill signed into law
'With the support of my colleagues in both chambers and both sides of the aisle, Kentucky has now closed a door which has stood open to our nation's enemies for too long,' Sharp said. 'I am proud of the General Assembly for recognizing the seriousness of this issue, and for joining me in taking this necessary action to protect our citizens, our commonwealth, and our country.'
House Bill 315 will prohibit any foreign entity from purchasing, leasing or acquiring agricultural land in Kentucky if they are associated with a hostile foreign government identified by Title 22, section 126.1 of the Code of Federal Regulations and do not have a national security agreement with the Committee on Foreign Investment, according to a press release. These countries include China, Cuba, Iran and Venezuela among others. HB 315 will also prohibit any foreign entity associated with these countries from participating in agricultural programs offered by the commonwealth.
In addition, the bill requires agricultural land purchased for non-agricultural purposes by all foreign entities to be developed within five years of purchase, stated the release.
Visit legislature.ky.gov for more information.
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