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This bill would modify how the federal government reviews foreign purchases of American agricultural land. Currently, the Committee on Foreign Investment in the United States (CFIUS) oversees certain foreign investments for national security concerns. This bill would require CFIUS to review agricultural land transactions involving foreign persons from China, North Korea, Russia, or Iran that are reported to the Department of Agriculture.
The bill would expand CFIUS's membership to include the Secretary of Agriculture when reviewing transactions involving agricultural land, agricultural biotechnology, or agriculture-related industries like transportation and storage. This change aims to give the agriculture sector a formal voice in national security decisions about foreign ownership of American farmland and related agricultural assets.
If enacted, the bill would create a new process where USDA identifies potentially problematic foreign agricultural land purchases and refers them to CFIUS for national security review. This could result in some foreign acquisitions being blocked or restricted if deemed to pose security risks. The bill is currently in early stages and has not yet been reviewed by Senate committees.
AI-generated summary
Introduced in Senate
Feb 25, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 25, 2025
Introduced in Senate
Feb 25, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Feb 25, 2025
No CBO cost estimate has been published for this bill.