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Bankers tell House panel HB315 risks restricting farm lending; cite overlap with FinCEN checks
Summary
Representative Scott Sharp introduced House Bill 315 to limit land purchases by foreign adversaries. Tim Shank of the Kentucky Bankers Association testified the bill’s foreclosure mechanics and reliance on a 22 CFR list could conflict with banks’ FinCEN screening and limit access to credit for farmers.
Representative Scott Sharp introduced House Bill 315 to the House Agriculture Committee on Wednesday, a bill the sponsor described as intended to limit land purchases by designated foreign adversaries.
Scott Sharp, identified as the bill's presenter, described HB 315 as a "foreign adversary land bill" aimed at minimizing the ability of listed foreign adversaries to purchase land in Kentucky. The committee had a motion to consider the bill by Representative Tate with a second…
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