Safeguarding American Farms from Foreign Influence Act
This bill requires the Committee on Foreign Investment in the United States (CFIUS) to determine whether a national security review is necessary for reportable agricultural land transactions that are referred by the Department of Agriculture (USDA). (CFIUS oversees the national security risks of certain foreign investment in the United States. CFIUS has the authority to review covered transactions, which include mergers, acquisitions, and takeovers that could result in foreign control of a U.S. business; certain noncontrolling investments in businesses involved in critical technologies, critical infrastructure, or sensitive personal data; and certain real estate transactions. The President may, at the recommendation of CFIUS, suspend or prohibit transactions that threaten to impair U.S. national security.)
Specifically, the bill directs CFIUS to, within 30 days of receiving notification from USDA, determine (1) whether a reportable agricultural land transaction is a covered transaction, and (2) whether CFIUS should initiate a national security review or take another action with respect to the transaction.
Under this bill, reportable agricultural land transaction means a transaction (1) that USDA has reason to believe is a covered transaction; (2) that involves the acquisition of an interest in agricultural land by a foreign person, other than by a foreign person of an excepted foreign state or an excepted real estate foreign state, as such terms are defined in CFIUS regulations; and (3) with respect to which a foreign person is required to submit a report to USDA regarding their agricultural land transactions.
[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5409 Introduced in House (IH)]
<DOC>
118th CONGRESS
1st Session
H. R. 5409
To amend the Defense Production Act of 1950 to require the Committee on
Foreign Investment in the United States to determine whether a national
security review is needed for reportable agricultural land transactions
referred by the Secretary of Agriculture, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
September 12, 2023
Mr. Luetkemeyer introduced the following bill; which was referred to
the Committee on Financial Services, and in addition to the Committees
on Foreign Affairs, and Energy and Commerce, for a period to be
subsequently determined by the Speaker, in each case for consideration
of such provisions as fall within the jurisdiction of the committee
concerned
_______________________________________________________________________
A BILL
To amend the Defense Production Act of 1950 to require the Committee on
Foreign Investment in the United States to determine whether a national
security review is needed for reportable agricultural land transactions
referred by the Secretary of Agriculture, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Safeguarding American Farms from
Foreign Influence Act''.
SEC. 2. CONSIDERATION OF CERTAIN AGRICULTURAL LAND TRANSACTIONS.
Section 721(b)(1) of the Defense Production Act of 1950 (50 U.S.C.
4565(b)(1)) is amended by adding at the end the following:
``(I) Consideration of certain agricultural land
transactions.--
``(i) In general.--Not later than 30 days
after receiving notification from the Secretary
of Agriculture of a reportable agricultural
land transaction, the Committee shall
determine--
``(I) whether the transaction is a
covered transaction; and
``(II) if the Committee determines
that the transaction is a covered
transaction, whether the Committee
should initiate a review pursuant to
subparagraph (D), or take another
action authorized under this section,
with respect to the reportable
agricultural land transaction.
``(ii) Reportable agricultural land
transaction.--In this subparagraph, the term
`reportable agricultural land transaction'
means a transaction--
``(I) that the Secretary of
Agriculture has reason to believe is a
covered transaction;
``(II) that involves the
acquisition of an interest in
agricultural land by a foreign person,
other than by a foreign person of an
excepted foreign state or an excepted
real estate foreign state, as such
terms are defined in regulations
prescribed by the Committee; and
``(III) with respect to which a
person is required to submit a report
to the Secretary of Agriculture under
section 2(a) of the Agricultural
Foreign Investment Disclosure Act of
1978.''.
<all>
Introduced in House
Introduced in House
Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Committee Consideration and Mark-up Session Held
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 44 - 0.
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-801, Part I.
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-801, Part I.
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House Committee on Foreign Affairs Granted an extension for further consideration ending not later than Dec. 19, 2024.
House Committee on Energy and Commerce Granted an extension for further consideration ending not later than Dec. 19, 2024.
Committee on Foreign Affairs discharged.
Committee on Foreign Affairs discharged.
Committee on Energy and Commerce discharged.
Committee on Energy and Commerce discharged.
Placed on the Union Calendar, Calendar No. 782.