Bill > HR1713

This bill amends the Defense Production Act of 1950 to expand the Committee on Foreign Investment in the United States (CFIUS) by adding the Secretary of Agriculture as a member for transactions involving agricultural interests. Specifically, the Secretary will be included in CFIUS deliberations when a transaction relates to agricultural land, agricultural biotechnology, or the agriculture industry, including transportation, storage, and processing. The bill also introduces a new requirement for CFIUS to review certain agricultural land transactions, particularly those involving foreign persons from China, North Korea, Russia, or Iran. Under these provisions, if the Secretary of Agriculture identifies a potentially concerning agricultural land transaction based on intelligence community information, CFIUS must determine whether it constitutes a covered transaction and decide whether to initiate a review or take other authorized actions. The requirements for such reviews will automatically sunset if the specified countries are removed from the list of foreign adversaries. This legislation aims to enhance national security oversight of foreign investments in the U.S. agricultural sector by providing additional scrutiny and input from the Department of Agriculture.

Business and Industry, Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/house-bill/1713/all-info