Bill > HR4362

This bill amends the Agricultural Foreign Investment Disclosure Act of 1978 (AFIDA) to enhance reporting and tracking of foreign ownership of agricultural land in the United States. The bill introduces a new reporting requirement that mandates disclosure for foreign persons who hold at least a 1 percent interest in agricultural land, either directly or through multiple ownership tiers. The Farm Production and Conservation Business Center (FPAC-BC) will be responsible for validating data and ensuring compliance with these new reporting standards. The bill also requires the Secretary of Agriculture to establish a memorandum of understanding with the Committee on Foreign Investment in the United States (CFIUS) to share information about foreign land ownership reports. Additionally, the bill mandates updates to the Farm Service Agency's Foreign Investment Disclosure handbook, incorporating recommendations from a 2024 Government Accountability Office report, with updates to occur every 10 years. The legislation further requires an analysis of creating a streamlined electronic submission and retention process for AFIDA reports, with a requirement to develop an implementation timeline if such a process is not established within one year of the act's enactment. The overall goal of the bill is to improve transparency, tracking, and potential national security oversight of foreign investments in U.S. agricultural land.

Agriculture and Natural Resources

https://www.congress.gov/bill/119th-congress/house-bill/4362/all-info