PUBLIC LAW 95-460—OCT. 14, 1978
92 STAT. 1265
^ ^
the interest, the country in which such holder is created or organized, and the principal place of business of such holder, (f) With respect to any person, other than an individual or a government, whose legal name is contained in any report submitted under subsection (e) of the section, the Secretary may require such person to submit to the Secretary a report containing— (A) the legal name and the address of any person who holds j; any interest in the person submitting the report under this ' subsection; ^ (B) in any case in which the holder of such interest is an individual, the citizenship of such holder-; and ' (C) in any case in which the holder of such interest is not an ' individual or a government, the nature of the legal entity holding the interest, the country in which such holder is created or '• organized, and the principle place of business of such holder. '
CIVIL PENALTY
i SEC. 3, (a) If the Secretary determines that a person— 7 USC 3502. (1) has failed to submit a report in accordance with the provisions of section 2, or (2) has knowingly submitted a report under section 2— (A) which does not contain all the information required to ., be in such report, or (B) which contains information that is misleading or false, such person shall be subject to a civil penalty imposed by the Secretary. The amount of any such civil penalty shall be determined in accordance with the provisions of subsection (b) of this section. Any such civil penalty shall be recoverable in a civil action brought by the Attorney General of the United States in an appropriate district court of the United States. _,, (b) The amount of any civil penalty imposed by the Secretary under subsection (a) of this section shall be such amount as the Secretary determines to be appropriate to carry out the purposes of this Act, except that such amount shall not exceed 25 percent of the fair market value, on the date of the assessment of such penalty, of the interest in agricultural land with respect to which such violation occurred. INVESTIGATIVE ACTIONS
SEC. 4. The Secretary may take such actions as the Secretary con- 7 USC 3503. siders necessary to monitor compliance with the provisions of this Act and to determine whether the information contained in any report submitted under section 2 accurately and fully reveals the ownership <^r;j, >. , interest of all foreign persons in any foreign person who is required to submit a report under such section. REPORTS TO CONGRESS AND THE PRESIDENT
SEC. 5. (a) In accordance with the schedule set forth in subsection 7 USC 3504. (b) of this section, the Secretary shall— (1) with respect to each period set forth in such subsection, analyze information obtained by the Secretary under section 2 and determine the effects of foreign persons acquiring, transferring, and holding agricultural land, particularly the effects of such acquisitions, transfers, and holdings on family farms and rural communities; and
�
