,,ii  #aaith ,,congress  #ast ,session  
,s4 #hde  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,march #d1 #bjbe,ms4
 ,baldwin 7for herself and ,mr4         
,grassley7 introduced the following     
bill2 which was read twice and referred 
to the ,committee on ,agriculture1      
,nutrition1 and ,forestry  ,a ,,bill    
,to amend the ,agricultural ,foreign    
,investment ,disclosure ,act of #aigh to
 remove the limitation on the amount of 
a civil penalty1 and for other purposes4
  #a4 ,short title ,this ,act may be    
cited as the ,farmland ,security ,act of
 #bjbe4  #b4 ,improving agricultural    
foreign investment disclosure  7a7      
,civil penalty ,section #c of the       
,agricultural ,foreign ,investment      
,disclosure ,act of #aigh 7#g ,u4,s4,c4 
#cejb7 is amended-- 7#a7 in subsection  
7a71 by striking the second sentence2   
7#b7 in subsection 7b7-- 7,a7 by        
striking ,the amount and inserting      
,except as provided in subsection 7c71  
the amount2 and  7,b7 by striking ,act1 

and all that follows through the period 
at the end and inserting ,act42 and     
7#c7 by adding at the end the following3
  7c7 ,penalty for shell corporations   
7#a7 ,definition of shell corporation   
,in this subsection1 the term shell     
corporation means a corporation1        
company1 association1 firm1 partnership1
 society1 joint stock company1 trust1   
estate1 or any other legal entity that  
has no or nominal operations4  7#b7     
,amount of penalty ,the amount of a     
civil penalty under subsection 7a7 for a
 foreign-owned shell corporation1 as    
determined by the ,secretary1 shall be  
#ajj percent of the fair market value1  
on the date of the assessment of the    
penalty1 of the interest in agricultural
 land with respect to which the         
violation occurred4  7#c7               
,nonapplication of penalty ,a shell     
corporation shall not be subject to a   
civil penalty under this section if the 
shell corporation remedies a defective  
filing or failure to file not later than

 #fj days after the ,secretary provides 
notice to the shell corporation of the  
defective filing or failure to file4  4 
7b7 ,investigative actions ,section #d  
of the ,agricultural ,foreign           
,investment ,disclosure ,act of #aigh   
7#g ,u4,s4,c4 #cejc7 is amended-- 7#a7  
by striking ,the ,secretary and         
inserting the following3  7a7 ,in       
general ,the ,secretary  2 and  7#b7 by 
adding at the end the following3  7b7   
,audit ,the ,secretary shall conduct an 
annual compliance audit of not less than
 #aj percent of the reports submitted   
under section #b for the year covered by
 the audit to ensure the completeness   
and accuracy of reports submitted under 
that section4  7c7 ,training ,the       
,secretary shall provide annual training
 to ,state and county-level personnel   
relating to identifying agricultural    
land for which-- 7#a7 a report is       
required to be submitted under section  
#b2 but  7#b7 no report has been        
submitted by the applicable foreign     

person4  4  7c7 ,reports ,section #f of 
the ,agricultural ,foreign ,investment  
,disclosure ,act of #aigh 7#g ,u4,s4,c4 
#ceje7 is amended-- 7#a7 by striking the
 section designation and heading and all
 that follows through ,not later than   
and inserting the following3  #f4       
,reports  7a7 ,to ,states ,not later    
than  2 and  7#b7 by adding at the end  
the following3  7b7 ,to ,congress  7#a7 
,in general ,not later than #ahj days   
after the date of enactment of the      
,farmland ,security ,act of #bjbe1 and  
annually thereafter1 the ,secretary     
shall submit to ,congress a report      
describing the results of the research  
carried out under paragraph 7#b74  7#b7 
,research ,the ,secretary shall carry   
out research on-- 7,a7 the agricultural 
leasing activities in the ,united       
,states of foreign persons1 including   
the impact of those activities on family
 farms1 rural communities1 and the      
domestic food supply2  7,b7 trends      
relating to the purchase of agricultural

 land in the ,united ,states by         
foreign-owned shell corporations2 and   
7,c7 foreign ownership of agricultural  
production capacity and foreign         
participation in agricultural economic  
activity in the ,united ,states4  4  7d7
 ,authorization of appropriations ,the  
,agricultural ,foreign ,investment      
,disclosure ,act of #aigh 7#g ,u4,s4,c4 
#ceja et seq47 is amended by adding at  
the end the following3  #aa4            
,authorization of appropriations ,there 
is authorized to be appropriated to the 
,secretary to carry out this ,act       
#b1jjj1jjj for each of fiscal years     
#bjbe through #bjcj4  4