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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 5007 Introduced in Senate (IS)]

<DOC>

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)).''.
                                 <all>
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