Bill > S4821

This bill, the Security and Oversight for International Landholdings Act of 2022 (or the SOIL Act of 2022), aims to increase oversight of foreign direct investment in agricultural land in the United States. It does this by: 1) Amending the Defense Production Act to require the Committee on Foreign Investment in the United States (CFIUS) to review acquisitions or transfers of interests in agricultural land by entities from non-market economy countries or those identified as national security risks. 2) Expanding CFIUS membership to include the Secretary of Agriculture. 3) Prohibiting federal agencies from providing assistance, including subsidies, to agricultural real estate holdings owned by entities from non-market economy countries or those identified as national security risks. 4) Amending the Agricultural Foreign Investment Disclosure Act to require disclosure of leases longer than 5 years for agricultural land, and remove the minimum acreage requirement for reporting foreign holdings. 5) Requiring the Secretary of Agriculture to annually report on foreign holdings of agricultural land in the United States, including detailed state and county-level data.