S.316

New Jersey S316 restricts foreign governments and persons from owning agricultural land in the state.

New Jersey S316 prohibits foreign governments and persons from acquiring, purchasing, or obtaining any interest in agricultural land in the state after the bill's effective date. Exceptions include acquiring land through legal processes like debt collection, foreclosure, or lien imposition, which must then be sold within two years. Foreign entities owning land on the bill's effective date can retain it for up to five years, after which they must sell it to non-foreign entities. The bill also mandates annual reporting on foreign-owned agricultural land acreage and usage.