Changes the laws regarding the foreign ownership of real property, with a penalty provision

HB 1991 replaces Missouri's existing laws on foreign ownership of real property with new provisions. It prohibits non-U.S. citizens or residents (referred to as "aliens") and foreign-owned businesses from acquiring or owning agricultural land (defined as over 5 acres used for farming or livestock), with an exception for agricultural land bordering Oklahoma owned by such entities before January 1, 1995. The bill establishes clear definitions for terms like "agricultural land," "alien," and "foreign business" to determine eligibility. It includes penalty provisions for violations but does not specify the penalties in the provided text. The law directly affects foreign individuals, foreign corporations, and businesses with foreign ownership interests seeking to purchase or hold agricultural property in Missouri.