FARM Act
Bill: S.2931 | Sponsor: Sen. Tuberville, Tommy (R-AL)
Policy area: Foreign Trade and International Finance

Summary:
Foreign Adversary Risk Management Act or the FARM Act
This bill places the Secretary of Agriculture on the Committee on Foreign Investment in the United States, and it requires the committee to review any investment that could result in foreign control of any U.S. agricultural business.
Further, it includes agricultural systems and supply chains in the definitions of critical infrastructure and critical technologies for the purposes of reviewing such investments.
The Department of Agriculture and the Government Accountability Office must each analyze and report on foreign influence in the U.S. agricultural industry.

To amend the Defense Production Act of 1950 to prevent harm and 
  disruption to the United States agriculture industry by protecting 
   against foreign influence over agriculture production and supply 
                    chains, 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 ``Foreign Adversary Risk Management 
Act'' or the ``FARM Act''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) United States agriculture and supply chains are 
        critical to United States economic success and prosperity, and 
        should each be classified as critical infrastructure and 
        critical technologies.
            (2) Agriculture is the lifeblood that helps to feed United 
        States families nationwide. As such, food security is a matter 
        of national security and should be a top priority of the United 
        States.
            (3) To prevent harm to the United States public health 
        sector and to prevent disruption to the United States economy 
        and food supply chains, the increasing influence foreign 
        countries may have on the United States agriculture industry 
        and agriculture supply chains should be mitigated.

SEC. 3. UNITED STATES AGRICULTURE INCLUDED IN COMMITTEE ON FOREIGN 
              INVESTMENT IN THE UNITED STATES.

    (a) Agriculture Representative.--Section 721(k)(2) of the Defense 
Production Act of 1950 (50 U.S.C. 4565(k)(2)) is amended--
            (1) by redesignating subparagraphs (H), (I), and (J) as 
        subparagraphs (I), (J), and (K), respectively; and
            (2) by inserting after subparagraph (G) the following:
                    ``(H) The Secretary of Agriculture.''.
    (b) Review of Agriculture Investments by Foreign Entities.--Section 
721(a)(4) of the Defense Production Act of 1950 (50 U.S.C. 4565(a)(4)) 
is amended--
            (1) in subparagraph (A)--
                    (A) in clause (i), by striking ``; and'' and 
                inserting a semicolon;
                    (B) in clause (ii), by striking the period at the 
                end and inserting ``; and''; and
                    (C) by adding at the end the following:
                            ``(iii) any transaction described in 
                        subparagraph (B)(vi) that is proposed, pending, 
                        or completed on or after the date of the 
                        enactment of the Foreign Adversary Risk 
                        Management Act.''; and
            (2) in subparagraph (B), by adding at the end the 
        following:
                            ``(vi) Any transaction, merger, 
                        acquisition, transfer, agreement, takeover, or 
                        other arrangement that could result in foreign 
                        control of any United States business that is 
                        engaged in agriculture and uses agricultural 
                        products (as defined in the first section of 
                        the Act of July 2, 1926 (44 Stat. 802, chapter 
                        725; 7 U.S.C. 451)).''.
    (c) Agricultural Supply Chains Included in Critical 
Infrastructure.--Section 721(a)(5) of the Defense Production Act of 
1950 (50 U.S.C. 4565(a)(5)) is amended--
            (1) by striking ```critical infrastructure' means'' and 
        inserting the following: ```critical infrastructure'--
                            ``(i) means'';
            (2) by striking the period at the end and inserting ``; 
        and''; and
            (3) by adding at the end the following:
                            ``(ii) includes, subject to regulations 
                        prescribed by the Committee, agricultural 
                        systems and supply chains.''.
    (d) Agricultural Supply Chains Included as Critical Technologies.--
Section 721(a)(6)(A) of the Defense Production Act of 1950 (50 U.S.C. 
4565(a)(6)(A)) is amended by adding at the end the following:
                            ``(vii) Agricultural supply chains used for 
                        agricultural products (as defined in the first 
                        section of the Act of July 2, 1926 (44 Stat. 
                        802, chapter 725; 7 U.S.C. 451)).''.

SEC. 4. REPORTS ON INVESTMENTS BY FOREIGN COUNTRIES IN UNITED STATES 
              AGRICULTURE INDUSTRY.

    Not later than one year after the date of the enactment of this 
Act, the Secretary of Agriculture and the Comptroller General of the 
United States shall each--
            (1) conduct an analysis of foreign influence in the United 
        States agriculture industry; and
            (2) submit to Congress a report that includes a summary 
        of--
                    (A) foreign investments in the United States 
                agriculture industry;
                    (B) the potential for foreign investment to 
                undermine United States agriculture production and 
                agricultural supply chains;
                    (C) the largest international threats for increased 
                foreign control of, and investment in, the United 
                States agriculture sector; and
                    (D) agriculture-related espionage and theft 
                techniques used by foreign governments, including any 
                attempts to target United States agricultural 
                intellectual property, innovation, research and 
                development, cost or pricing data, or internal strategy 
                documents.
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