Latest news with #Act636
Yahoo
28-05-2025
- Business
- Yahoo
Chinese company sells Craighead County land per Arkansas order
Video: Arkansas governor, attorney general order Chinese seed company to divest land holdings in the state (Oct. 17, 2023) CRAIGHEAD COUNTY, Ark. – A company with ties to China's government has sold its land holding in Craighead County in accordance with an Arkansas law. Talk Business & Politics reported that Sygenta Seeds LLC sold more than 150 acres to Moore Legacy Farms LLC on May 15 for $750,000. Gov. Sarah Huckabee Sanders, Attorney General Griffin act to force Chinese seed company to divest Arkansas land holdings, issues fine In October 2023, Arkansas Attorney General Tim Griffin ordered the company to divest itself of the land in accordance with Act 636 of 2023, signed into law by Gov. Sarah Huckabee Sanders in April of that year. The act prohibited land holdings in Arkansas by prohibited foreign parties, such as the Chinese government-owned China National Chemical Company. The China National Chemical Company, commonly known as ChemChina, purchased the Switzerland-based Syngenta Seeds in 2016. Syngenta previously stated that the 160 acres were allocated for its seed research and development business. European companies cut costs, scale back investments in China as its economy slows Griffin and Sanders held a joint news conference in 2023 announcing the divestiture order. The governor stated that the law was created and enforced to prevent the theft of American research. 'Seeds are technology,' Sanders said at the time. 'Chinese state-owned corporations filter that technology back to their homeland, stealing American research and telling our enemies how to target American farms.' According to TB&P, ChemChina was placed on the U.S. Department of Defence list of Chinese-controlled 'military companies' in 2022. Chinese seed company ordered to divest Arkansas land holdings pays $280,000 fine When the divestiture was ordered, Griffin also levied a $280,000 fine against the company for not reporting its foreign ownership in accordance with state law. The company paid the fine in November 2023. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
28-02-2025
- Business
- Yahoo
Arkansas bills keep Chinese firms from leasing land near infrastructure
Arkansas Gov. Sarah Huckabee Sanders (R) introduced a legislative package Wednesday that bans 'Chinese Communist Party-linked companies' from leasing or buying land around military bases and electric substations. 'We previously banned companies linked to the CCP [China Communist Party] and other foreign adversaries from owning farmland. We'll ban those companies now from leasing property and owning property near our critical infrastructure, and we will shorten the amount of time a banned company has to divest from our state,' Sanders said of the measure. The package builds upon her 2023 efforts to ban foreign ownership of agricultural land and digital asset mining in the state through Act 636 and 174. Both laws were blocked by U.S. District Judge Kristine G. Baker following court battles in which plaintiffs claimed the acts were unconstitutional. Sanders's new package enhances past limitations for foreign companies and also features a clause that will withhold funding from colleges and universities that have Chinese cultural centers, a Confucius Institute or programs related to the People's Republic of China. 'We will also ban made-in-China promotional items from state government. These items should be made in America,' Sanders said, lauding President Trump for the hard-line stance against the nation. 'Every state in the country has a role to play in defending America from our foreign adversaries, and I'm proud that Arkansas is leading the way,' the lawmaker continued. State Sen. Blake Johnson (R) is a lead sponsor on the bill, alongside five House Republicans in the Arkansas Legislature. 'From banning Chinese military drones, to prohibiting land ownership, and now instituting severe penalties and outlawing foreign influence peddling; These restrictions aim to protect Arkansas's economic and security interests by limiting CCP-backed entities, full stop,' state Rep. Brit McKenzie (R), a co-sponsor of the bill said in a statement. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
27-02-2025
- Business
- The Hill
Arkansas bills keep Chinese firms from leasing land near infrastructure
Arkansas Gov. Sarah Huckabee Sanders (R ) introduced on Wednesday a legislative package that bans 'Chinese Communist Party-linked companies' from leasing or buying land around military bases and electric substations. 'We previously banned companies linked to the CCP [China Communist Party] and other foreign adversaries from owning farmland. We'll ban those companies now from leasing property and owning property near our critical infrastructure, and we will shorten the amount of time a banned company has to divest from our state,' Sanders said of the measure. The package builds upon her 2023 efforts to ban foreign ownership of agricultural land and digital asset mining in the state through Act 636 and 174. Both laws were blocked by U.S. District Judge Kristine G. Baker following court battles in which plaintiffs claimed the acts were unconstitutional. Sanders' new package enhances past limitations for foreign companies and also features a clause that will withhold funding from colleges and universities that have Chinese cultural centers, a Confucius Institute or programs related to the People's Republic of China. 'We will also ban made-in-China promotional items from state government. These items should be made in America,' Sanders said, lauding President Trump for the hard-line stance against the nation. 'Every state in the country has a role to play in defending America from our foreign adversaries, and I'm proud that Arkansas is leading the way,' the lawmaker continued. State Sen. Blake Johnson (R) is a lead sponsor on the bill, alongside five House Republicans in the Arkansas legislature. 'From banning Chinese military drones, to prohibiting land ownership, and now instituting severe penalties and outlawing foreign influence peddling; These restrictions aim to protect Arkansas's economic and security interests by limiting CCP-backed entities, full stop,' state Rep. Brit McKenzie (R), a co-sponsor of the bill said in a statement.
