; and (2) with respect to any agricultural land for which a report is submitted under section 2, updated descriptions of each foreign person who holds an interest in at least 1 percent of the agricultural land, as that information is made available to the Secretary, categorized as a majority owner or a minority owner that holds an interest in the agricultural land. . (2) Deadline for database establishment Section 773 of division A of the Consolidated Appropriations Act, 2023 ( Public Law 117–328 ), is amended, in the first proviso, by striking 3 years and inserting 2 years . (d) Definition of foreign person Section 9(3) of the Agricultural Foreign Investment Disclosure Act of 1978 ( 7 U.S.C. 3508(3) ) is amended— (1) in subparagraph (C)(ii)(IV), by striking and at the end; (2) in subparagraph (D), by inserting and after the semicolon; and (3) by adding at the end the following: (E) any person, other than an individual or a government, that issues equity securities that are primarily traded on a foreign securities exchange within— (i) Iran; (ii) North Korea; (iii) the People's Republic of China; or (iv) the Russian Federation; . 6. Reports (a) Report from the Secretary on foreign ownership of agricultural land in the United States (1) In general Not later than 1 year after the date of enactment of this Act, and once every 2 years thereafter, the Secretary shall submit to Congress a report describing— (A) the risks and benefits, as determined by the Secretary, that are associated with foreign ownership or lease of agricultural land in rural areas (as defined in section 520 of the Housing Act of 1949 ( 42 U.S.C. 1490 )); (B) the intended and unintended misrepresentation of foreign land ownership in the annual reports prepared by the Secretary describing foreign holdings of agricultural land due to inaccurate reporting of foreign holdings of agricultural land