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[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5409 Introduced in House (IH)]

<DOC>

118th CONGRESS
  1st Session
                                H. R. 5409

To amend the Defense Production Act of 1950 to require the Committee on 
Foreign Investment in the United States to determine whether a national 
security review is needed for reportable agricultural land transactions 
   referred by the Secretary of Agriculture, and for other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                           September 12, 2023

 Mr. Luetkemeyer introduced the following bill; which was referred to 
the Committee on Financial Services, and in addition to the Committees 
    on Foreign Affairs, and Energy and Commerce, for a period to be 
subsequently determined by the Speaker, in each case for consideration 
  of such provisions as fall within the jurisdiction of the committee 
                               concerned

_______________________________________________________________________

                                 A BILL

 
To amend the Defense Production Act of 1950 to require the Committee on 
Foreign Investment in the United States to determine whether a national 
security review is needed for reportable agricultural land transactions 
   referred by the Secretary of 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 ``Safeguarding American Farms from 
Foreign Influence Act''.

SEC. 2. 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.--Not later than 30 days 
                        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) Reportable agricultural land 
                        transaction.--In this subparagraph, the term 
                        `reportable agricultural land transaction' 
                        means a transaction--
                                    ``(I) that the Secretary of 
                                Agriculture has reason to believe is a 
                                covered transaction;
                                    ``(II) that involves the 
                                acquisition of an interest in 
                                agricultural land by a foreign person, 
                                other than by a foreign person of an 
                                excepted foreign state or an excepted 
                                real estate foreign state, as such 
                                terms are defined in regulations 
                                prescribed by the Committee; and
                                    ``(III) 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.''.
                                 <all>
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