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Bill > HR8274


US HR8274

US HR8274
PASS Act of 2022 Promoting Agriculture Safeguards and Security Act of 2022


summary

Introduced
07/01/2022
In Committee
07/01/2022
Crossed Over
Passed
Dead
01/03/2023

Introduced Session

117th Congress

Bill Summary

A BILL To amend the Defense Production Act of 1950 to include the Secretary of Agriculture on the Committee on For- eign Investment in the United States and require review of certain agricultural transactions, and for other pur- poses.

AI Summary

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.

Committee Categories

Business and Industry

Sponsors (18)

Last Action

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. (on 07/01/2022)

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