Top U.S. senators introduced a bill Thursday to ban China from owning any U.S. land, including agricultural and other real estate properties. The bill further gives the U.S. president the authority to require a sale if existing property ownership is deemed a national security risk.
The bill, dubbed “Not One More Inch or Acre Act,” is a comprehensive pushback on Chinese land ownership in America, which has increased in acreage by 20-fold from 2010 to 2020. In addition, the proposed legislation also imposes a minimum fine—10 percent of the land’s fair market value—for failing to report foreign ownership under the Agricultural Foreign Investment Disclosure Act (AFIDA)….