Bill > S732

This bill amends the Defense Production Act of 1950 to enhance oversight of foreign investments in U.S. agriculture, specifically focusing on investments from countries considered foreign adversaries (China, North Korea, Russia, and Iran). The bill requires the Secretary of Agriculture to be a member of the Committee on Foreign Investment in the United States (CFIUS) when reviewing transactions involving agricultural land, biotechnology, or agricultural industries like transportation, storage, and processing. It establishes a new process where the Secretary of Agriculture can notify CFIUS about potentially concerning agricultural land transactions by foreign entities from these specific countries. CFIUS must then determine whether the transaction is a "covered transaction" and decide whether to initiate a review or take other authorized actions. The provisions will remain in effect until a covered country is removed from the list of foreign adversaries. This legislation aims to provide additional scrutiny and protection for U.S. agricultural assets from potential strategic investments by countries deemed adversarial to U.S. interests.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/732/all-info