Vote Smart's Synopsis:

Vote to pass a bill that amends and makes changes to the Committee on Foreign Investment in the United States (CFIUS), including by requiring CFIUS to determine whether a national security review is necessary for reportable agricultural land transactions that are referred by the Department of Agriculture (USDA).

Highlights:

• Amends and makes changes to the Committee on Foreign Investment in the United States (CFIUS), including by requiring CFIUS to determine whether a national security review is necessary for reportable agricultural land transactions that are referred by the Department of Agriculture (USDA) (Sec. 2).

• Specifies that CFIUS oversee the national security risks of certain foreign investments in the United States and has the authority to review covered transactions, which include (Sec. 2):

• Mergers;

• Acquisitions; and 

• Takeovers that could result in the following:

• Foreign control of a U.S. business; 

• Certain investments in businesses involved in critical technologies;

• Critical infrastructure, or sensitive personal data; and 

• Certain real estate transactions.

• Requires CFIUS to, after receiving notification from USDA determine the following, including (Sec. 2):

• Whether a reportable agricultural land transaction is a covered transaction; and

• Whether CFIUS should initiate a national security review or take another action concerning the transaction. 

• Defines “reportable agricultural land transaction” to mean a transaction that (Sec. 2):

• USDA has reason to believe is a covered transaction;

• Involves the acquisition of an interest in agricultural land by a foreign person from China, North Korea, Russia, or Iran; and

• With respect to this, a foreign person is required to submit a report to USDA regarding their agricultural land transactions.

• Expands membership of CFIUS to include the Secretary of Agriculture on covered transactions that involve agricultural land, agricultural biotechnology, or the agriculture industry, including (Sec. 2):

• Agricultural transportation;

• Storage; and

• Processing.

Full Bill Text

Full Bill Text