Property: land sales; sale or transfer of agricultural assets or land to foreign entities; prohibit. Amends title & secs. 35 & 36 of 1846 RS 66 (MCL 554.135 & 554.136) & adds secs. 36a & 36b.

The bill aims to prohibit the sale or transfer of agricultural land and assets in Michigan to foreign entities. It amends existing property laws to enforce this restriction. The goal is to protect local agricultural interests and ensure that farmland remains in the hands of Michigan residents.

Supporters of the bill argue that it is essential for safeguarding Michigan's agricultural heritage and economy. By preventing foreign ownership of farmland, they believe it will help maintain local control over food production and protect the interests of Michigan farmers.

Critics contend that the bill could restrict legitimate investment opportunities and limit the potential for economic growth in the agricultural sector. They argue that such prohibitions may lead to a decrease in agricultural innovation and could harm the state’s competitiveness in the global market.