Current through Reg. 50, No. 187; September 24, 2024
(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.
Rulemaking Authority 692.202(9), 570.07(23) FS. Law
Implemented 692.202, FS.
New 4-4-24.
