Stronger National Security Review of Foreign Investment in US Farmland
This bill amends the Defense Production Act of 1950 and the Agricultural Foreign Investment Disclosure Act of 1978. It includes the Secretary of Agriculture in the Committee on Foreign Investment in the United States (CFIUS) for transactions involving agricultural land, agriculture biotechnology, or the agriculture industry. It also requires the Secretary to notify CFIUS of agricultural land transactions that may pose a national security risk, prioritizing those involving foreign countries or entities of concern.
Key points
The Secretary of Agriculture becomes a member of CFIUS for covered transactions involving agricultural land, agriculture biotechnology, or the agriculture industry (including transportation, storage, and processing).
The Secretary must notify CFIUS of agricultural land transactions believed to pose a risk to national security based on intelligence information.
The bill prioritizes notification for transactions where a foreign country of concern or foreign entity of concern acquires an interest in agricultural land.
Status:
Expired
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