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

New Jersey's S 316 prohibits foreign governments and foreign persons (including non-U.S. citizens, foreign-owned corporations, and entities controlled by foreign entities) from acquiring or owning agricultural land in the state after the bill's effective date. Existing foreign owners must sell their land within five years, transferring ownership to a U.S. entity while requiring the land to remain in agricultural use. The bill allows limited exceptions for land acquired through debt collection, inheritance, or security interests, but mandates that such land also be sold within two years. It requires the Agriculture Secretary to annually report on foreign ownership trends, acreage, and land use to the Governor and Legislature.