,i  #aah? ,,congress  #a/ ,session  ,h4 
,r4 #ciif  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,june #i1 #bjbc,ms4   
,van ,duyne 7= h]self1 ,mr4 ,bu*anan1   
,mr4 ,c>ey1 ,mr4 ,ku/(f1 ,ms4           
,malliotakis1 & ,mr4 ,arr+ton7 introduc$
 ! foll[+ bill2 :i* 0 ref]r$ to !       
,committee on ,ways & ,means  ,a ,,bill 
,to am5d ! ,int]nal ,rev5ue ,code (     
#aihf to impose a tax on ! acquisition (
 ,unit$ ,/ates agricultural int]e/s by  
disqualifi$ p]sons4  #a4 ,imposition (  
tax on ! acquisition ( ,unit$ ,/ates    
agricultural int]e/s by disqualifi$     
p]sons  7a7 ,9 g5]al ,subtitle ,d ( !   
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by ins]t+ aft] *apt] #ej;,a ! foll[+ new
 *apt]3  #ej;,b ,acquisition ( ,unit$   
,/ates agricultural int]e/s by          
disqualifi$ p]sons  ,sec4 #ejjj;,e4     
,imposition ( tax on acquisition (      
,unit$ ,/ates agricultural int]e/s by   
disqualifi$ p]sons4  #ejjj;,e4          
,imposition ( tax on acquisition (      
,unit$ ,/ates agricultural int]e/s by   

disqualifi$ p]sons  7a7 ,9 g5]al ,9 !   
case ( any acquisition ( any ,unit$     
,/ates agricultural int]e/ by any       
disqualifi$ p]son1 !re is h]eby impos$  
on su* p]son a tax equal to #fj p]c5t ( 
! am\nt paid = su* int]e/4  7b7         
,disqualifi$ p]son ,= purposes ( ?is    
section-- 7#a7 ,9 g5]al ,! t]m          
disqualifi$ p]son means-- 7,a7 any      
citiz5 ( a c\ntry ( conc]n 7o!r ?an a   
citiz51 or lawful p]man5t resid5t1 ( !  
,unit$ ,/ates & o!r ?an an individual   
domicil$ 9 ,taiwan possess+ a valid     
id5tification c>d or numb] issu$ by !   
gov]nm5t ( ,taiwan71  7,b7 any entity   
domicil$ 9 a c\ntry ( conc]n 7o!r ?an an
 entity domicil$ 9 ,taiwan71  7,c7 any  
c\ntry ( conc]n & any political         
subdivision1 ag5cy1 or in/rum5tality    
!re(1 &  7,d7 except z provid$ 9        
p>agraph 7#c71 any entity if p]sons     
describ$ 9 subp>agraph 7,a71 7,b71 or   
7,c7 79 ! aggregate7 #aj-p]c5t control  
su* entity4  7#b7 ,c\ntry ( conc]n ,!   
t]m c\ntry ( conc]n means any c\ntry !  

gov]nm5t ( :i* is engag$ 9 a long-t]m   
patt]n or s]i\s in/ances ( conduct      
significantly adv]se to ! national      
security ( ! ,unit$ ,/ates or ! security
 & safety ( ,unit$ ,/ates p]sons1       
includ+ ! ,p's ,republic ( ,*9a1 !      
,russian ,f$]ation1 ,iran1 ,nor? ,korea1
 ,cuba1 & ! regime ( ,nicolas ,maduro 9 
,v5ezuela4  7#c7 ,exception = c]ta9     
publicly trad$ corporations  7,a7 ,9    
g5]al ,an entity %all n be treat$ z     
describ$ 9 p>agraph 7#a77;,d7 if-- 7i7  
su* entity is a specifi$ publicly trad$ 
corporation1 or  7ii7 specifi$ publicly 
trad$ corporations 79 ! aggregate7      
control su* entity4  7,b7 ,specifi$     
publicly trad$ corporation  7i7 ,9 g5]al
 ,! t]m specifi$ publicly trad$         
corporation means any corporation if--  
7,i7 ! /ock ( su* corporation is        
regul>ly trad$ on an e/abli%$ securities
 m>ket locat$ 9 ! ,unit$ ,/ates1 &      
7,,ii7 specifi$ disqualifi$ p]sons d n  
79 ! aggregate7 control su* corporation4
  7ii7 ,specifi$ disqualifi$ p]sons ,!  

t]m specifi$ disqualifi$ p]sons means1 )
 respect to any corporation ref]r$ to 9 
clause 7i71 any p]son :i*-- 7,i7 is     
describ$ 9 subp>agraph 7,a71 7,b71 or   
7,c7 ( p>agraph 7#a71 &  7,,ii7 has     
#aj-p]c5t control su* entity4  7c7      
,prorat$ tax on acquisitions by entities
 n m ?an #ej p]c5t controll$ by         
disqualifi$ p]sons  7#a7 ,9 g5]al ,9 !  
case ( any disqualifi$ p]son describ$ 9 
subsection 7b77#a77;,d7 ) respect to :i*
 p]sons describ$ 9 subp>agraph 7,a71    
7,b71 or 7,c7 ( subsection 7b77#a7 d n  
79 ! aggregate7 control su* disqualifi$ 
p]son1 subsection 7a7 %all be appli$ by 
sub/itut+ ! applicable p]c5tage ( !     
am\nt = ! am\nt4  7#b7 ,applicable      
p]c5tage ,= purposes ( ?is section1 !   
t]m applicable p]c5tage means1 ) respect
 to any disqualifi$ p]son to :i*        
p>agraph 7#a7 applies1 ! highe/ p]c5tage
 :i* c\ld be sub/itut$ = #ej p]c5t bo?  
places x appe>s 9 section #ied7;d77#c7  
)\t caus+ p]sons describ$ 9 subp>agraph 
7,a71 7,b71 or 7,c7 ( subsection 7b77#a7

 79 ! aggregate7 to control 7det]m9$ by 
tak+ into acc\nt su* sub/itution7 su*   
disqualifi$ p]son4  7d7 ,control ,=     
purposes ( ?is section-- 7#a7 ,9 g5]al  
,! t]m control has ! mean+ giv5 su* t]m 
"u section #ied7;d77#c71 det]m9$ by     
treat+ ! rules ( section #ieh7;a77#b7 z 
apply+ to bo? =eign & dome/ic           
corporations1 p>tn]%ips1 tru/s1 &       
e/ates4  7#b7 #aj-p]c5t control ,! t]m  
#aj-p]c5t control means control 7z def9$
 9 p>agraph 7#a771 det]m9$ by sub/itut+ 
#aj p]c5t = #ej p]c5t bo? places x      
appe>s 9 section #ied7;d77#c74  7e7     
,unit$ ,/ates agricultural int]e/ ,=    
purposes ( ?is section-- 7#a7 ,9 g5]al  
,! t]m ,unit$ ,/ates agricultural int]e/
 has ! mean+ :i* w\ld be giv5 ! t]m     
,unit$ ,/ates real prop]ty int]e/ by    
section #hig7;c7 if-- 7,a7 p>agraph     
7#a77;,a77i7 7 appli$ by sub/itut+ an   
int]e/ 9 agricultural l& = an int]e/ 9  
real prop]ty & all t foll[s1  7,b7      
p>agraph 7#a77;,a77ii7 7 appli$ by      
sub/itut+ su* corporation 0 n a ,unit$  

,/ates real prop]ty hold+ corporation at
 ! "t ( acquisition = su* corporation & 
all t foll[s1  7,c7 p>agraph 7#a77;,b7  
did n apply1 &  7,d7 p>agraph 7#c7 7    
appli$ by sub/itut+ at ! "t (           
acquisition = at "s "t dur+ ! %ort] ( ! 
p]iods describ$ 9 p>agraph              
7#a77;,a77ii74  7#b7 ,agricultural l& ,=
 purposes ( p>agraph 7#a71 ! t]m        
agricultural l& means-- 7,a7            
agricultural l& z def9$ 9 section #i ( !
 ,agricultural ,=eign ,inve/m5t         
,disclosure ,act ( #aigh 7#g ,u4,s4,c4  
#cejh71 &  7,b7 l& locat$ 9 "o or m     
,/ates & us$ = live/ock production      
purposes 7det]m9$ "u rules simil> to !  
rules t apply "u su* section #i74  4    
7b7 ,report+ requirem5ts  7#a7 ,9 g5]al 
,subp>t ,b ( "p ,,iii ( sub*apt] ,a (   
*apt] #fa ( su* ,code is am5d$ by add+  
at ! end ! foll[+ new section3          
#fjej;,,aa4 ,returns relat+ to          
acquisition ( ,unit$ ,/ates agricultural
 int]e/s by disqualifi$ p]sons  7a7 ,9  
g5]al ,! requir$ report+ p]son1 )       

respect to any acquisition ( any ,unit$ 
,/ates agricultural int]e/ by a         
presumptively disqualifi$ p]son to :i*  
section #ejjj;,e7a7 applies1 %all make a
 return at su* "t z ! ,secret>y may     
provide sett+ =?-- 7#a7 ! "n1 address1 &
 ,,t9 ( su* presumptively disqualifi$   
p]son1  7#b7 a description ( su* ,unit$ 
,/ates agricultural int]e/ 7includ+ !   
/reet address1 if applicable71 &  7#c7 !
 am\nt paid = su* ,unit$ ,/ates         
agricultural int]e/4  7b7 ,/atem5t ,to  
be furni%$ to presumptively disqualifi$ 
p]son ,e p]son requir$ to make a return 
"u subsection 7a7 %all furni%1 at su* "t
 z ! ,secret>y may provide1 to ea*      
presumptively disqualifi$ p]son ^: "n is
 requir$ to be set =? 9 su* return a    
writt5 /atem5t %[+-- 7#a7 ! "n & address
 ( ! in=mation contact ( ! requir$      
report+ p]son1 &  7#b7 ! in=mation      
describ$ 9 p>agraphs 7#a71 7#b71 & 7#c7 
( subsection 7a7 :i* relates to su*     
disqualifi$ p]son4  7c7 ,requir$ report+
 p]son ,= purposes ( ?is section1 ! t]m 

requir$ report+ p]son means1 ) respect  
to any acquisition ( any ,unit$ ,/ates  
agricultural int]e/-- 7#a7 ! p]son      
7includ+ any attorney or title company7 
responsible = clos+ ! transaction 9 :i* 
su* ,unit$ ,/ates agricultural int]e/ is
 acquir$1 or  7#b7 if no "o is          
responsible = clos+ su* transaction 7or 
9 su* o!r cases z ! ,secret>y may       
provide71 ! transf]or ( su* ,unit$      
,/ates agricultural int]e/4  7d7        
,presumptively disqualifi$ p]son ,=     
purposes ( ?is section1 ! t]m           
presumptively disqualifi$ p]son means   
any p]son unless su* p]son furni%es to !
 requir$ report+ p]son an affidavit by !
 su* p]son /at+1 "u p5alty ( p]jury1 t  
su* p]son is n a disqualifi$ p]son 7z   
def9$ 9 section #ejjj;,e7b774  7e7      
,requirem5t ,to reque/ affidavit ,if !  
requir$ report+ p]son1 ) respect to any 
acquisition ( any ,unit$ ,/ates         
agricultural int]e/1 has n1 z ( ! "t (  
su* acquisition1 be5 furni%$ ! affidavit
 describ$ 9 subsection 7d7 by ! acquir] 

( su* int]e/1 su* requir$ report+ p]son 
%all furni% to su* acquir]1 at su* "t1 a
 writt5 /atem5t in=m+ su* acquir] ( !   
requir$ report+ p]son's obligation to   
make ! return describ$ 9 subsection 7a7 
) respect to su* acquisition & includ+  
su* o!r in=mation z ! ,secret>y may     
require4  7f7 ,unit$ ,/ates agricultural
 int]e/ ,= purposes ( ?is section1 ! t]m
 ,unit$ ,/ates agricultural int]e/ has !
 mean+ giv5 su* t]m 9 section #ejjj;,e4 
4  7#b7 ,p5alties ,section #fgbd7;d7 (  
su* ,code is am5d$-- 7,a7 9 p>agraph    
7#a77;,b71 by /rik+ or at ! end ( clause
 7xxvii71 by /rik+ & at ! end ( clause  
7xxviii7 & ins]t+ or1 & by add+ at ! end
 ! foll[+ new clause3  7xxix7 section   
#fjej;,,aa7a7 7relat+ to returns relat+ 
to acquisition ( ,unit$ ,/ates          
agricultural int]e/s by disqualifi$     
p]sons71 &  1 &  7,b7 9 p>agraph 7#b71  
by /rik+ or at ! end ( subp>agraph      
7,,kk71 by /rik+ ! p]iod at ! end (     
subp>agraph 7,,ll7 & ins]t+ 1 or1 & by  
ins]t+ aft] subp>agraph 7,,ll7 ! foll[+ 

new subp>agraph3  7,,mm7 subsection 7b7 
or 7e7 ( section #fjee;,,aa 7relat+ to  
/atem5ts relat+ to acquisition ( ,unit$ 
,/ates agricultural int]e/s by          
disqualifi$ p]sons74  4  7c7 ,cl]ical   
am5dm5ts  7#a7 ,! table ( *apt]s =      
subtitle ,d ( su* ,code is am5d$ by     
ins]t+ aft] ! item relat+ to *apt]      
#ej;,a ! foll[+ new item3  ,*apt]       
#ej;,b4 ,acquisition ( ,unit$ ,/ates    
agricultural int]e/s by disqualifi$     
p]sons4  4  7#b7 ,! table ( sections =  
subp>t ,b ( "p ,,iii ( sub*apt] ,a (    
*apt] #fa ( su* ,code is am5d$ by add+  
at ! end ! foll[+ new item3  ,sec4      
#fjej;,,aa4 ,returns relat+ to          
acquisition ( ,unit$ ,/ates agricultural
 int]e/s by disqualifi$ p]sons4  4  7d7 
,effective date ,! am5dm5ts made by ?is 
section %all apply to acquisitions aft] 
! date ( ! enactm5t ( ?is ,act4