II 

117TH CONGRESS 

2D SESSION S. 4786 

To amend the Defense Production Act of 1950 to include the Secretary 

of Agriculture on the Committee on Foreign Investment in the United 

States and require review of certain agricultural transactions, and for 

other purposes. 

IN THE SENATE OF THE UNITED STATES 

AUGUST 6, 2022 

Mr. ROUNDS 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 to include 

the Secretary of Agriculture on the Committee on Foreign Investment in the United States and require review 

of certain agricultural transactions, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Promoting Agriculture 

5 Safeguards and Security Act of 2022’’ or the ‘‘PASS Act 

6 of 2022’’. 


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1 SEC. 2. REVIEW OF AGRICULTURE-RELATED TRANS2 ACTIONS BY CFIUS. 

3 (a) IN GENERAL.—Section 721 of the Defense Pro4 duction Act of 1950 (50 U.S.C. 4565) is amended— 

5 (1) in subsection (a)— 

6 (A) in paragraph (4)— 

7 (i) in subparagraph (A)— 

8 (I) in clause (i), by striking ‘‘; 

9 and’’ and inserting a semicolon; 

10 (II) in clause (ii), by striking the 

11 period at the end and inserting ‘‘; 

12 and’’; and 

13 (III) by adding at the end the 

14 following: 

15 ‘‘(iii) any transaction described in 

16 clause (vi) or (vii) of subparagraph (B) 

17 proposed or pending on or after the date of 

18 the enactment of this clause.’’; 

19 (ii) in subparagraph (B), by adding at 

20 the end the following: 

21 ‘‘(vi) Any other investment, subject to 

22 regulations prescribed under subpara23 graphs (D) and (E), by a foreign person in 

24 any unaffiliated United States business 

25 that is engaged in agriculture or bio26 technology related to agriculture. 


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1 ‘‘(vii) Subject to subparagraphs (C) 

2 and (E), the purchase or lease by, or a 

3 concession to, a foreign person of private 

4 real estate that is— 

5 ‘‘(I) located in the United States; 

6 and 

7 ‘‘(II) used in agriculture.’’; 

8 (iii) in subparagraph (C)(i), by strik9 ing ‘‘subparagraph (B)(ii)’’ and inserting 

10 ‘‘clause (ii) or (vii) of subparagraph (B)’’; 

11 (iv) in subparagraph (D)— 

12 (I) in clause (i), by striking ‘‘sub13 paragraph (B)(iii)’’ and inserting 

14 ‘‘clauses (iii) and (vi) of subparagraph 

15 (B)’’; 

16 (II) in clause (iii)(I), by striking 

17 ‘‘subparagraph (B)(iii)’’ and inserting 

18 ‘‘clauses (iii) and (vi) of subparagraph 

19 (B)’’; 

20 (III) in clause (iv)(I), by striking 

21 ‘‘subparagraph (B)(iii)’’ each place it 

22 appears and inserting ‘‘clauses (iii) 

23 and (vi) of subparagraph (B)’’; and 

24 (IV) in clause (v), by striking 

25 ‘‘subparagraph (B)(iii)’’ and inserting 


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1 ‘‘clauses (iii) and (vi) of subparagraph 

2 (B)’’; and 

3 (v) in subparagraph (E), by striking 

4 ‘‘clauses (ii) and (iii)’’ and inserting 

5 ‘‘clauses (ii), (iii), (iv), and (vii)’’; and 

6 (B) by adding at the end the following: 

7 ‘‘(14) AGRICULTURE.—The term ‘agriculture’ 

8 has the meaning given such term in section 3 of the 

9 Fair Labor Standards Act of 1938 (29 U.S.C. 

10 203).’’; 

11 (2) in subsection (k)(2)— 

12 (A) by redesignating subparagraphs (H), 

13 (I), and (J), as subparagraphs (I), (J), and 

14 (K), respectively; and 

15 (B) inserting after subparagraph (G) the 

16 following new subparagraph: 

17 ‘‘(H) The Secretary of Agriculture.’’; and 

18 (3) by adding at the end the following: 

19 ‘‘(r) PROHIBITION WITH RESPECT TO AGRICUL20 TURAL COMPANIES AND REAL ESTATE.— 

21 ‘‘(1) IN GENERAL.—Notwithstanding any other 

22 provision of this section, if the Committee, in con23 ducting a review and investigation under this sec24 tion, determines that a transaction described in 

25 clause (i), (vi), or (vii) of subsection (a)(4)(B) would 


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1 result in control by a covered foreign person of or 

2 investment by a covered foreign person in a United 

3 States business engaged in agriculture or private 

4 real estate used in agriculture, the President shall 

5 prohibit such transaction. 

6 ‘‘(2) WAIVER.—The President may waive, on a 

7 case-by-case basis, the requirement to prohibit a 

8 transaction under paragraph (1), not less than 30 

9 days after the President determines and reports to 

10 the relevant committees of jurisdiction that it is vital 

11 to the national security interests of the United 

12 States to waive such prohibition. 

13 ‘‘(3) DEFINED TERMS.—In this subsection: 

14 ‘‘(A) COVERED FOREIGN PERSON.—The 

15 term ‘covered foreign person’ means a person 

16 that is— 

17 ‘‘(i) acting on behalf of or otherwise 

18 directed by the government of a prohibited 

19 country; 

20 ‘‘(ii) a citizen of a prohibited country; 

21 ‘‘(iii) an entity that— 

22 ‘‘(I) is registered or organized in 

23 a prohibited country; or 

24 ‘‘(II) has a principal place of 

25 business in a prohibited country; or 


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1 ‘‘(iv) a subsidiary of an entity de2 scribed in clause (iii). 

3 ‘‘(B) PROHIBITED COUNTRY.—The term 

4 ‘prohibited country’ means any of the following: 

5 ‘‘(i) The People’s Republic of China. 

6 ‘‘(ii) The Russian Federation. 

7 ‘‘(iii) The Islamic Republic of Iran. 

8 ‘‘(iv) The Democratic People’s Repub9 lic of Korea.’’. 

10 (b) REPORT REQUIRED.—Not later than 180 days 

11 after the date of the enactment of this Act, and every 180 

12 days thereafter, the Secretary of Agriculture shall submit 

13 to the Committee on Agriculture of the House of Rep14 resentatives and the Committee on Agriculture, Nutrition, 

15 and Forestry of the Senate a report on the risks that for16 eign purchases of United States businesses engaged in ag17 riculture (as such term is defined in section 3 of the Fair 

18 Labor Standards Act of 1938 (29 U.S.C. 203)) pose to 

19 the agricultural sector of the United States. 

Æ 


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