Any person required to submit a report to the United States Department of Agriculture in accordance with the Agricultural Foreign Investment Disclosure Act of 1978, 7 U.S.C. §§ 3501 to 3508 inclusive (January 1, 2026), shall file a copy of the required report with the secretary of the Department of Agriculture and Natural Resources, within the time period required for submission under 7 U.S.C. § 3501. If the person fails to report as required under this section, the attorney general may impose a civil penalty, not to exceed ten percent of the fair market value of the agricultural land interest held on the date the penalty was assessed. The attorney general shall forward any civil penalty collected under this section to the state treasurer, for deposit in the general fund. The attorney general may bring an action to collect the civil penalty in the Sixth Judicial Circuit Court in Pierre or in the circuit court of any county of this state in which any portion of the relevant agricultural land is located.

Source: SL 2024, ch 176 , § 2; SL 2026, ch 176 , § 3.