[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 5007 Introduced in Senate (IS)]
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118th CONGRESS
2d Session
S. 5007
To amend the Defense Production Act of 1950 with respect to foreign
investments in United States agriculture, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
September 10, 2024
Mr. Braun (for himself, Mr. Cotton, Mr. Marshall, Mr. Grassley, Mr.
Tuberville, Mrs. Blackburn, Mr. Ricketts, Mr. Barrasso, Mr. Tester, Mr.
Fetterman, Mr. Manchin, Mrs. Fischer, Mrs. Britt, Ms. Baldwin, Mr.
Young, Ms. Ernst, and Ms. Lummis) introduced the following bill; which
was read twice and referred to the Committee on Banking, Housing, and
Urban Affairs
_______________________________________________________________________
A BILL
To amend the Defense Production Act of 1950 with respect to foreign
investments in United States agriculture, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Protecting American Agriculture from
Foreign Adversaries Act of 2024''.
SEC. 2. INCLUSION OF SECRETARY OF AGRICULTURE ON COMMITTEE ON FOREIGN
INVESTMENT IN UNITED STATES AND CONSIDERATION OF CERTAIN
AGRICULTURAL LAND TRANSACTIONS.
(a) Inclusion on the Committee.--Section 721(k) of the Defense
Production Act of 1950 (50 U.S.C. 4565(k)) is amended by adding at the
end the following:
``(8) Inclusion of the secretary of agriculture.--The
Secretary of Agriculture shall be a member of the Committee
with respect to a covered transaction that involves--
``(A) agricultural land;
``(B) agriculture biotechnology; or
``(C) the agriculture industry, including
agricultural--
``(i) transportation;
``(ii) storage; and
``(iii) processing.''.
(b) Consideration of Certain Agricultural Land Transactions.--
Section 721(b)(1) of the Defense Production Act of 1950 (50 U.S.C.
4565(b)(1)) is amended by adding at the end the following:
``(I) Consideration of certain agricultural land
transactions.--
``(i) In general.--After receiving
notification from the Secretary of Agriculture
of a reportable agricultural land transaction,
the Committee shall determine--
``(I) whether the transaction is a
covered transaction; and
``(II) if the Committee determines
that the transaction is a covered
transaction, whether the Committee
should initiate a review pursuant to
subparagraph (D), or take another
action authorized under this section,
with respect to the reportable
agricultural land transaction.
``(ii) Sunset.--The requirements under this
subparagraph shall terminate, with respect to a
foreign person of a covered country, on the
date on which that country is removed from the
list of foreign adversaries set forth in
section 791.4 of title 15, Code of Federal
Regulations.
``(iii) Definitions.--In this subparagraph:
``(I) Covered country.--The term
`covered country' means the People's
Republic of China, the Democratic
People's Republic of Korea, the Russian
Federation, or the Islamic Republic of
Iran.
``(II) Reportable agricultural land
transaction.--The term `reportable
agricultural land transaction' means a
transaction--
``(aa) that the Secretary
of Agriculture has reason to
believe is a covered
transaction;
``(bb) that involves the
acquisition of an interest in
agricultural land by a foreign
person of a covered country;
and
``(cc) with respect to
which a person is required to
submit a report to the
Secretary of Agriculture under
section 2(a) of the
Agricultural Foreign Investment
Disclosure Act of 1978 (7
U.S.C. 3501(a)).''.
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