Due to the intense pressure from the opposition, La Libertad Avanza in the Senate made the decision to withdraw the chapter of the Law of Inviolability of Private Property related to the Land Law reform Land Law.
The initiative, which sought to relax the current regime and create more attractive conditions for investment, failed to gather the necessary political support and was left out of the legislative debate, allowing the project to move forward.
The decision was hastened on Wednesday, following a meeting among the allied sectors of the block led by Patricia Bullrich, who had been leading the negotiations in the upper house.
With the chapter removed, the rest of the project will be debated in a session scheduled for this Thursday at 2 PM, following last month's recess.
The Kirchnerist senator José Mayans
The removal of the section regarding rural lands occurred after a series of defections that began the day before and intensified in recent hours.
While Bullrich announced changes to the scheme, which included everything from total liberalization to raising the current limit from 15% to 25% of land in foreign hands, several legislators who initially supported the project began to distance themselves.
At least four key senators questioned their support, while on Wednesday explicit rejections came from governors who had previously shown closeness to the Casa Rosada, such as Osvaldo Jaldo (Tucumán) and Rolando Figueroa (Neuquén).
Even within the PRO, fractures were recorded when one bench decided to break away from the official stance due to the lack of political consensus.
Patricia Bullrich
The result was a scenario of internal disorder that ultimately made the approval of the chapter unfeasible. According to reports, the discussion shifted from technical aspects to being completely political, which accelerated the decision to withdraw the most contentious point of the initiative.
The text that was rendered ineffective aimed to modify rules related to rural lands, allowing purchases by foreign citizens and creating a favorable climate for investments in Argentina, while maintaining restrictions on the acquisition of rural lands by foreign states.
One of the most relevant changes proposed by the reform was to raise the limit of land in foreign hands from 15% to 25% per province. It also included the requirement to register all transactions in provincial real estate registries, noting the nationality of the purchasers.
These modifications would have allowed for the inflow of capital and the generation of new opportunities for productive development in various regions of the country. However, the opposing sectors ultimately frustrated that objective.
