765 ILCS 50/1
This Act shall be known as the Agricultural Foreign Investment Disclosure Act
This Act shall be known as the Agricultural Foreign Investment Disclosure Act. (Source: P.A. 81-187.)
Illinois Compiled Statutes 765 ILCS 50 — Agricultural Foreign Investment Disclosure Act.
Illinois · statute · 765 ILCS 50 · 8 active provisions
765 ILCS 50/2
For purposes of this Act: (1) the term "agricultural land" means any land located in this State and used for agricultural, forestry, or timber production purposes, except agricultural land used primarily to meet pollution control laws or regulations, as determined by the Director under regulations to be prescribed by t…
765 ILCS 50/3
Foreign persons
Foreign persons. (a) Any foreign person who acquires or transfers any interest, other than a leasehold interest of 10 years or less or a security interest, in agricultural land in this State shall submit a report to the Director of Agriculture not later than 90 days after the date of such acquisition or transfer. Such…
765 ILCS 50/4
(a) If the Director determines that a person: (1) has knowingly and willfully failed to submit a report in accordance with the provisions of Section 3; or (2) has knowingly and willfully submitted a report under Section 3: (A) which does not contain all the information required to be in such report; or (B) which contai…
765 ILCS 50/5
The Director may take such actions as the Director considers necessary to monitor compliance with the provisions of this Act and to determine whether the information contained in any report submitted under Section 3 accurately and fully reveals the ownership interest of all foreign persons in any foreign person who is…
765 ILCS 50/6
A foreign person required to make a report to the Director by Section 3 of this Act shall be in full compliance with this Act if such person files with the Director a copy of the report filed with the Secretary of the United States Department of Agriculture as required by the Agricultural Foreign Investment Disclosure…
765 ILCS 50/7
Not later than 90 days after the date of the enactment of this Act, the Director shall prescribe regulations for purposes of carrying out the provisions of this Act
Not later than 90 days after the date of the enactment of this Act, the Director shall prescribe regulations for purposes of carrying out the provisions of this Act. (Source: P.A. 81-187.)
765 ILCS 50/8
(a) Except as provided in subsection (b) of this Section, this Act is effective upon its becoming a law
(a) Except as provided in subsection (b) of this Section, this Act is effective upon its becoming a law. (b) Section 3 shall become effective on the date on which regulations prescribed by the Director under Section 7 become effective. (Source: P.A. 81-187.)