Bill > S886

This bill strengthens oversight of foreign agricultural land ownership in the United States by amending the Agricultural Foreign Investment Disclosure Act of 1978. The legislation specifically targets potential national security risks from foreign entities, with a particular focus on countries like China and Russia. Key provisions include requiring detailed reporting on foreign land ownership, establishing a new Chief of Operations for Investigative Actions within the Department of Agriculture to monitor compliance, and creating a public database tracking agricultural land owned by foreign persons. The bill imposes civil penalties for entities that fail to report foreign land purchases or submit misleading information, and prohibits foreign persons from participating in Farm Service Agency programs. Additionally, the legislation expands the authority of the Committee on Foreign Investment in the United States to review real estate purchases by foreign entities of concern, particularly those over $5 million or 320 acres, especially in sectors like agriculture, energy extraction, and critical technology materials. The bill aims to protect U.S. agricultural security, prevent potential espionage, and ensure transparency in foreign land ownership, with an initial authorization of $35 million for fiscal year 2025 and $9 million annually through 2029 to implement these new requirements.

Agriculture and Natural Resources

https://www.congress.gov/bill/119th-congress/senate-bill/886/all-info