Bill > S1969

This bill improves the Agricultural Foreign Investment Disclosure Act (AFIDA) by introducing several key changes to enhance reporting and tracking of foreign agricultural land ownership. The bill expands reporting requirements so that any foreign person holding at least a 1 percent interest in agricultural land—either directly or through multiple ownership tiers—must now disclose their ownership. It mandates that the Secretary of Agriculture establish a memorandum of understanding with the Committee on Foreign Investment in the United States (CFIUS) to share information about foreign land ownership reports. The bill also requires the Farm Service Agency to update its foreign investment disclosure handbook within one year, incorporating recommendations from a 2024 Government Accountability Office report, and requires subsequent updates every 10 years. Additionally, the Farm Production and Conservation Business Center (FPAC-BC) must analyze and develop an implementation timeline for a streamlined electronic submission and retention process for foreign land ownership disclosures if such a process is not already established. The bill aims to improve transparency and tracking of foreign agricultural land investments, potentially addressing national security concerns by creating more comprehensive reporting mechanisms.

Agriculture and Natural Resources

https://www.congress.gov/bill/119th-congress/senate-bill/1969/all-info