SB185

South Dakota creates a new Committee on Foreign Investment in the United States – South Dakota to review and regulate foreign purchases or leases of agricultural land in the state. The bill expands the definition of "foreign entity" to include any business partnership or corporation where foreign persons own 5% or more of the company, closing a loophole that previously allowed foreign-controlled entities to buy farmland more easily. These changes give the state new authority to monitor and potentially restrict foreign agricultural land ownership.