South Dakota House Committee okays bill closing loophole on foreign ownership of farmland (Audio)
February 9, 2023
PIERRE, S.D.–The House Agriculture and Natural Resources Committee of the South Dakota Legislature passed a bill this morning designed to start closing a loophole in the foreign ownership of farm land.
Currently, state law prohibits ownership of more than 160 acres of ag land. House Majority Leader Will Mortenson of Pierre says it does not address foreign-owned companies…
Mortenson says it’s a tough nut to crack because there are a lot of ways to own land. He says House Bill 1189 is a start. It adds one question to the form that all South Dakota companies file every year…
Mortenson says they need to find out the extent of hidden foreign ownership…
The Governor’s office and several farm groups spoke in favor of the bill.
No one testified against the measure. It passed 13-0 and moves to the House floor.
