Foreign Investment Restrictions in US Agriculture: Protecting Land and Security
This act aims to strengthen oversight of foreign investments in US agricultural land to protect food and national security. It introduces stricter penalties for failing to report such investments, increases data transparency, and restricts foreign entities' access to agricultural support programs. The goal is to prevent undue influence on a critical economic sector.
Key points
Increased financial penalties for failing to report or falsely reporting foreign investments in agricultural land, with public disclosure of non-compliant entities.
Introduction of due diligence requirements for all entities (buyers, sellers, agents) involved in agricultural land transactions to ensure compliance.
Prohibition of foreign owners or operators of agricultural land from participating in Farm Service Agency support programs, potentially affecting access to subsidies and benefits.
Creation of a new database for agricultural land owned by foreign persons and appointment of a Chief of Operations for Investigative Actions to monitor compliance and investigate harmful activities.
Expansion of the Committee on Foreign Investment in the United States (CFIUS) authority to review real estate transactions, including agricultural land, exceeding $5 million or 320 acres, especially those involving entities from countries deemed a concern.
Expired
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