Latest news with #ScottSharp
Yahoo
31-03-2025
- Business
- Yahoo
Sharp bill signed into law
FRANKFORT The governor has signed House Bill 315, a measure sponsored by Rep. Scott Sharp, Ashland-R, to protect Kentucky's agricultural land from hostile foreign entities, 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 for more information.
Yahoo
13-02-2025
- Business
- Yahoo
Sharp files bill to prohibit purchase of agricultural land by hostile foreign entities
FRANKFORT Last week, Rep. Scott Sharp, R-Ashland, filed a bill to prohibit foreign entities affiliated with hostile governments from purchasing agricultural land in Kentucky. 'This has been a dangerous threat growing right under our noses for quite some time,' Sharp said. 'Foreign investors and companies with deep connections to hostile foreign governments have been purchasing vast quantities of agricultural land across our nation unchecked for years, including land adjacent to many of our critical military installations.' House Bill 315 would prohibit any foreign entity from purchasing, leasing or acquiring agricultural land in Kentucky if they are associated with a hostile foreign government identified by the United States, according to a news release. It would also require agricultural land purchased for non-agricultural purposes by all foreign entities to be developed within five years of purchase. In 2024, it was recorded that more than 40 million acres of farmland, pastures and forests in the United States were owned by foreign entities. While many of America's allies such as Canada, the Netherlands and Italy own much of that land, a concerning amount is in the possession of individuals and companies beholden to hostile foreign governments. According to the American Farm Bureau Federation, nearly 400,000 acres are owned by China, 90,000-plus acres are owned by Venezuela, over 4,000 acres are owned by Iran, nearly 1,000 acres are owned by Cuba, and more than 70 acres are owned by Russia. In 1978, a federal law was passed requiring any agricultural land purchased by foreign entities to be disclosed to the Department of Agriculture within 90 days of the sale. However, enforcement of this deadline has been reportedly inconsistent. Between 2023 and 2024, 22 states enacted similar measures to restrict the ownership of land by foreign entities. Of those states, some such as Arkansas, Florida, Louisiana, North Dakota, Tennessee and Utah expanded the restrictions to all property. 'It is high time that we address this concern head on,' Sharp said. 'Not only would this bill ensure the continued agricultural prosperity of our commonwealth, but also reaffirm our commitment to the protection of all Kentuckians no matter the size of the threat.' House Bill 315 has been assigned to the House Standing Committee on Agriculture for further discussion. For more information on House Bill 315, visit
