Restricts all ownership of agricultural land in State by foreign governments and persons.

S 723 prohibits foreign governments and foreign persons from acquiring or purchasing agricultural land in New Jersey after the bill's effective date. Current foreign owners must sell their land within five years to a non-foreign entity (such as a U.S. citizen or business), with a deed ensuring the land remains devoted to agricultural use. The bill requires annual reports to the governor and legislature detailing foreign ownership acreage, top nationalities, and land use trends. Limited exceptions apply for land acquired through debt collection (requiring sale within two years) or inheritance, and the law does not override U.S. treaties with foreign nations.