1. (a) A foreign business entity that acquires, sells, or transfers agricultural land located within Indiana for the purposes of crop farming or timber production after June 30, 2022, must report the acquisition, sale, or transfer to:

   1. (1) the secretary of state; and

   2. (2) the attorney general;

      not later than thirty (30) days after the acquisition, sale, or transfer of the agricultural land is finalized. The report must be made in the form and manner prescribed by the secretary of state. The attorney general shall review the reports that the attorney general receives under this subsection and investigate an acquisition, sale, or transfer of agricultural land if the attorney general believes the acquisition, sale, or transfer of agricultural land violates section 4 of this chapter.

2. (b) All agricultural land acquired, sold, or transferred in violation of section 4 of this chapter is subject to forfeiture to the state. The attorney general shall enforce a forfeiture under this subsection.

As added by P.L.156-2022, SEC.2.