On Jan. 24, 2023, the Senate Agriculture, Food Production and Outdoor Resources Committee heard three Senate bills that would limit foreign ownership of Missouri real estate and agricultural land. Similar bills were heard in the House Agriculture Policy Committee on Jan. 26.
Under current law, no more than 1% of the total agricultural acreage in the state can be owned by a foreign individual or business. Proposed bills would eliminate the 1% threshold, banning new foreign ownership of Missouri agricultural land or reducing the amount allowed to .5%.
The Missouri Chamber of Commerce and Industry opposes these bills.
Phillip Arnzen, director of legislative affairs for the Missouri Chamber, testified in opposition at the Senate hearing.
“We want to make sure we do everything we can to encourage investment in our state and also help support the businesses that are already in our state if they want to grow or expand in the future,” Arnzen said.
For more information, contact Arnzen at email@example.com or 573-634-3511.