Iowa lawmakers pass bill boosting regulations for foreign farmland owners. What to know:

Iowa lawmakers have passed a bill ramping up oversight and potential penalties for foreign owners of farmland, sending the proposal to Gov. Kim Reynolds' desk on Monday.

Senate File 2204 is expected to be signed into law by Reynolds, who brought forward the proposal at the beginning of session. It sailed through both chambers with unanimous support from Republicans and Democrats alike.

Here's what to know about the legislation and foreign-owned land regulations in Iowa.

What would the bill on foreign-owned farmland regulations do?

The legislation gives the Iowa attorney general's office power to subpoena financial information, purchase agreements and other documents while investigating possible violations of Iowa's foreign land ownership regulations.

It also requires foreign landowners to provide details to the state about their holdings in other states that exceed 250 acres. And the Iowa Secretary of State would submit an annual report of foreign landholdings to state leaders.

Penalties for failing to register their land holdings or reporting properly would also be boosted under the plan:

• Failing to register a purchase or holding would result in a fine of up to 25% of the property's value per violation; current law calls for a fine no more than $2,000 per violation.
• Failing to report holdings once every two years would result in a penalty of up to $10,000 per violation.

More:Kim Reynolds' bill on foreign farmland ownership would boost regulatory enforcement power

Why Gov. Reynolds, lawmakers sought stricter oversight for foreign farmland ownership

Foreign ownership of U.S. farmland has become a hot-button political issue, particularly in states whose economies are centered around agriculture.

Elected officials, including Reynolds and Iowa lawmakers, have pointed specifically to China as a growing economic and trade threat to the U.S.

Rep. Derek Wulf, R-Hudson, said the bill would "strengthen Iowa's already strongest and most comprehensive laws" for monitoring and restricting foreign ownership of farmland.

"They're trying to steal our livestock practices and advancements learned through generations of agriculturalists," Wulf said of Chinese nationals and companies aiming to buy up U.S. land.

The plan earned the support of Democrats, one of whom said it better prepared Iowa for aging farmers' transfers of land in the coming years.

"I firmly believe that food security is national security," said Rep. J.D. Scholten, D-Sioux City.

In a statement, Reynolds touted the legislation's bipartisan support, saying the state delivered on its promise to farmers.

"American farmland should remain in American hands, and Iowa’s agricultural dominance must be protected," Reynolds said. "Other states look to Iowa as a model, but foreign adversaries are adapting, and our laws must too."

How much farmland in Iowa is owned by foreign entities?

As of 2022, about 514,000 acres of Iowa farmland are held by foreign entities, according to U.S. Department of Agriculture data. That amounts to roughly 1.6% of the state's 32 million acres of crop, timber and other agriculture land.

China appears to be a minor owner of Iowa acreage, according to USDA data. Chinese-owned seed and crop protection company Syngenta owns 281 acres in Boone County.

The largest foreign holder is Canada, at close to 200,000 acres, followed by Italy at 104,400 acres. Around 181,300 acres are not specified, due to federal authorities not being able to identify nationalities (these landholders could be partners across several nations).

Donnelle Eller contributed reporting.

Galen Bacharier covers politics for the Register. Reach him at gbacharier@registermedia.com or (573) 219-7440, and follow him on Twitter @galenbacharier.