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CED-80-125 1 (1980-08-06)

handle is hein.gao/gaobabawo0001 and id is 1 raw text is: RESTRICTED- Not, t ,releaed old,,Ale d,,he General Accounting Office e,, t 1120 1o V,: of 6Pecif'ic approval JPy the Office of CeKe~siwns. & UNITED STATES GENERAL ACCOUNTING OFFICE I 13 O I WASHINGTON. D.C. 20548 RELEASED COMMUNITY ANO ECONOM IC AUGUST 6,1980 DOvIL-OrMaNT DIVISION B-199642 The Honorable Gaylord Nelson II111IIIII Chairman, Select Committee on 113015 Small Business United States Senate Dear Mr. Chairman: Subject: bonresident and Nonfarm Operator Ownership of Farmlan§.(CED-80-125) This report is in response to your February 22, 1980, letter asking us to investigate the question of nonresident And nonfarm operator ownership of farmland. Specifically, you asked that we review your committee's January 10, 1980, report entitled Ownership and Control of Farmland in the United States (Committee Print 56-195) and other sources, including Department of Agriculture (USDA) and Bureau of the Census reports, and respond to a series of questions listed in your letter. On May 19, 1980, we provided your office with an oral briefing on the results of our review. As requested, we are providing the following synopsis of the information presented at that briefing. COMPARATIVE ESTIMATES OF FARMLAND PURCHASES BY NONLOCAL BUYERS Your letter said that the committee report concluded that data we had gathered 1/ indicated that USDA data on landownership and control is misleading. Our data showed that about 25 percent of the farmland sold in certain areas during an 18-month period was purchased by nonresident businesses and 41.5 percent by nonresidents overall. An earlier USDA report entitled Farm Real Estate Market Developments, July 1977 (table 22), said that about 15 percent of U.S. farmland was purchased by nonresidents. l/Report entitled Foreign Investment in U.S. Agricultural Land--How It Shapes Up, CED-79-114, July 30, 1979. (021900)

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