Bill > HR8274

This bill, the Promoting Agriculture Safeguards and Security Act of 2022 (PASS Act of 2022), amends the Defense Production Act of 1950 to include the Secretary of Agriculture on the Committee on Foreign Investment in the United States (CFIUS) and require review of certain agricultural transactions, including those in the agriculture sector and biotechnology related to agriculture. The bill also prohibits persons acting on behalf of or directed by the governments of China, Russia, Iran, or North Korea from carrying out mergers, acquisitions, or takeovers that could result in foreign control of U.S. agricultural companies. Additionally, the Secretary of Agriculture is required to submit regular reports on the risks that foreign purchases of agricultural companies pose to the U.S. agricultural sector.