State Rep. Jay Reedy, R-Erin, has filed legislation to ensure Tennessee has a record of land owned by foreign entities and establishes a punishment for noncompliance.
NASHVILLE, Tenn. – State Rep. Jay Reedy, R-Erin, has filed legislation to ensure Tennessee has a record of land owned by foreign entities and establishes a punishment for noncompliance.
House Bill 219 requires all foreign land purchases in the Volunteer State be reported to the Tennessee Dept. of Agriculture and enforces a civil penalty of 25% of the property value for those who do not report.
“Similar reporting is already required at the federal level by the U.S. Dept. of Agriculture (UDSA) through the Agricultural Foreign Investment Disclosure Act,” Reedy said. “House Bill 219 ensures the state is also informed of any purchases by foreign parties.”
During the 113th General Assembly, Reedy spearheaded passage of a new law that banned nations listed as foreign adversaries by the federal government from purchasing or acquiring land in the state unless certain conditions were met.
More than 422,000 acres of agricultural land out of 26.3 million in Tennessee is owned by foreign parties, according to a 2021 report.
House Bill 219 advanced out of the Cities and Counties Subcommittee on Feb. 26, and is scheduled to be heard in State & Local Government Committee in the coming weeks.
Jay Reedy represents District 74 which includes Benton, Houston, Humphreys, Stewart and part of Henry Counties.
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