(1) Registration for Agricultural Land Owned
or Acquired Prior to July 1, 2023.
(a) A
foreign principal who owns or acquires a legal or equitable interest, other
than a de minimis indirect interest, in agricultural land or any interest in
such land in Florida prior to July 1, 2023, must register with the Department
in accordance with this rule.
(b) A
foreign principal must register with the Department on or before January 1,
2024, to be deemed timely registered. A foreign principal is not required to
register if the foreign principal fully divests their interest in agricultural
land prior to January 1, 2024.
(c)
A foreign principal who registers after January 31, 2024, shall be deemed late
and will have fines assessed in accordance with rule
5J-27.004,
F.A.C.
(2) Registration
for Agricultural Land Acquired on or After July 1, 2023, as authorized under
section
692.202(4),
F.S.
(a) A foreign principal who acquires
agricultural land or any interest in such land, other than a de minimis
indirect interest, on or after July 1, 2023, by devise or descent, through the
enforcement of security interests, or through the collection of debts, must
register with the Department within 30 days after the property is owned or
acquired by the foreign principal.
(b) If the foreign principal acquired the
agricultural land or any interest therein between July 1, 2023, and the
effective date of this rule, the foreign principal will have 30 days from the
effective date of this rule to register with the Department to be deemed timely
registered.
(c) The foreign
principal must submit an updated registration form within three years of
acquiring the agricultural land demonstrating the sale, transfer, or other
divestment of such agricultural land.
(d) A foreign principal who registers more
than 30 days after the agricultural land is owned or acquired shall be deemed
late and will have fines assessed in accordance with rule
5J-27.004,
F.A.C.
(3) Registration
Method.
A foreign principal required to register agricultural land
must submit FDACS-10993, Agricultural Land Owned by a Foreign Principal, 12/23,
hereby incorporated by reference, or by using the online registration system on
the Department's website at https://www.fdacs.gov. Copies of this form
may be obtained from the Department of Agriculture and Consumer Services,
Division of Consumer Services, 2005 Apalachee Parkway, Tallahassee, Florida
32399-6500 or accessed online at:
http://www.flrules.org/Gateway/reference.asp?No=Ref-16510.
(4) Updated Registrations.
(a) A foreign principal must update their
registration with the Department if any of the following occur:
1. The foreign principal sold the
agricultural land;
2. The foreign
principal no longer owns the agricultural land;
3. The foreign principal's agricultural land
is no longer classified as agricultural under section
193.461, F.S.;
4. The foreign principal no longer has any
interest in the agricultural land; or
5. The foreign principal no longer meets the
definition of a foreign principal as that term is defined in section
692.201,
F.S.
(b) A foreign
principal's registration must be updated using the online registration system
on the Department's website at
https://www.fdacs.gov/.online or by
written notification to the Department of Agriculture and Consumer Services,
Division of Consumer Services, 2005 Apalachee Parkway, Tallahassee, Florida
32399-6500.
(5) The
prohibition and registration requirements prescribed by section
692.202, F.S., shall not apply
with respect to any interest that is a de minimis indirect
interest.
Notes
Fla. Admin.
Code Ann. R. 5J-27.003
Rulemaking Authority 692.202(9), 570.07(23) FS. Law
Implemented 692.202, FS.
Adopted by
Florida
Register Volume 50, Number 055, March 19, 2024 effective
4/4/2024.
