A new bill in the Senate would increase transparency and oversight of foreign investments in U.S. farmland.

During a recent press call, Iowa Republican Chuck Grassley said foreign ownership is on the rise.

“Any competition for that land from out of the country is a national security concern,” he said. “Nationwide, about 3% of the farmland is held by foreign companies.”

The Farmland Security Act of 2023 would require all foreign entities that buy American ag land to report their holding, and it would strengthen penalties for countries who evade filing.

…