This legislation aims to enhance the Agricultural Foreign Investment Disclosure Act of 1978 (AFIDA) by establishing new reporting requirements and strengthening enforcement for foreign ownership of U.S. agricultural land. A key provision mandates that when multiple foreign persons acquire or transfer an interest, each foreign person holding at least a one percent interest , whether directly or aggregated through various tiers of ownership, must report their holdings. To bolster enforcement, the bill directs the Farm Production and Conservation Business Center (FPAC-BC) to validate collected data, ensure compliance with the new reporting threshold, and identify non-compliant parties. Additionally, the Secretary of Agriculture must establish a Memorandum of Understanding (MOU) with the Committee on Foreign Investment in the United States (CFIUS) within one year to facilitate the sharing of all relevant foreign ownership information. The bill also mandates regular updates to the Farm Service Agency's "Foreign Investment Disclosure" handbook, incorporating Government Accountability Office recommendations. Finally, it requires an analysis and implementation timeline for a streamlined electronic reporting process if it is not established within one year, with a report to Congress.