Bill > S4786

This bill, the Promoting Agriculture Safeguards and Security Act of 2022 or the 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 CFIUS review of certain agricultural transactions. Specifically, it requires CFIUS review of foreign investments in U.S. businesses engaged in agriculture or biotechnology related to agriculture, as well as the purchase, lease, or concession of U.S. agricultural real estate by foreign persons. The bill also prohibits transactions that would result in control by or investment from certain foreign persons in U.S. agricultural businesses or real estate, with some exceptions. Additionally, it requires the Secretary of Agriculture to regularly report on the risks posed by foreign purchases of U.S. agricultural businesses.