Indiana Code 32-22-3-4. Prohibition on foreign business entities acquiring agricultural land
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Sec. 4. (a) Except as provided in section 0.5 of this chapter, after June 30, 2022, a foreign business entity may not acquire by grant, purchase, devise, descent, or otherwise any agricultural land located within Indiana for the purposes of crop farming or timber production.
(b) Except as provided in section 0.5 of this chapter, a foreign business entity that acquired agricultural land located within Indiana for the purposes of crop farming or timber production before July 1, 2022, may not grant, sell, or otherwise transfer the agricultural land to any other foreign business entity for the purposes of crop farming or timber production after June 30, 2022.
As added by P.L.156-2022, SEC.2. Amended by P.L.178-2022(ts), SEC.16.
Terms Used In Indiana Code 32-22-3-4
- agricultural land: means land for use in crop farming or timber production. See Indiana Code 32-22-3-1
- crop farming: means the cultivation of land for the production of agricultural crops, consisting of plants or plant products that can be grown and harvested exclusively for profit or subsistence. See Indiana Code 32-22-3-2
- Devise: To gift property by will.
- foreign business entity: means :
Indiana Code 32-22-3-3