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The Foreign Investment in Real Property Tax Act of 1980 (FIRPTA), enacted as Subtitle C of Title XI (the "Revenue Adjustments Act of 1980") of the Omnibus Reconciliation Act of 1980, Pub. L. No. 96-499, 94 Stat. 2599, 2682 (Dec. 5, 1980), is a United States tax law that imposes income tax on foreign persons disposing of US real property interests.
In 2013, foreign buyers made up about 7% ($92.2 billion) of transactions in the $1.2 trillion U.S. real estate market. Canada was the main buyer with 19% of sales (decrease from 23% the year before), China was on the second place with 16% of sales, while on the first place considering total foreign sales by dollar value (24% or $22 billion).
The United States Senate passed their version of the bill on June 29, 2007 by unanimous consent. On July 11, 2007, the House passed the Senate's version, S. 1610 by a vote of 370–45. The bill establishes a framework for the review of foreign acquisitions of US assets by the Committee on Foreign Investment in the United States (CFIUS).
The Agricultural Foreign Investment Disclosure Act of 1978 requires foreign investors to disclose transactions of "U.S. land over 10 acres used for forestry, farming, ranching, or timber production."
Iowa has tightened restrictions on foreign land buyers, which own 1.6% of the state's acreage. ... 800-290-4726 more ways to reach us. Sign in. Mail. 24/7 Help. ... direct foreign investment in ...
As of the end of 2021, Chinese investors owned 383,935 acres of American soil, according to a report on foreign-held land from the U.S. Department of Agriculture (USDA).
review investments in the United States which, in the judgment of the committee, might have major implications for United States national interests; and; consider proposals for new legislation or regulations relating to foreign investment as may appear necessary. In 1980, President Jimmy Carter added the United States trade representative and ...
Dec. 4—Andy Gipson gets concerned even when American allies such as the Netherlands and Germany invest in large swaths of Mississippi's farmland. "It just bothers me at a gut level," he said.