Title: Farm Credit for Americans Act of 2022
Policy area: Agriculture and Food

Summary:
Farm Credit for Americans Act of 2022
This bill makes foreign persons ineligible for any credit or financial services provided by a Farm Credit System institution, with specified exceptions. The bill takes effect on January 1, 2024.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 4954 Introduced in Senate (IS)]

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117th CONGRESS
  2d Session
                                S. 4954

To amend the Farm Credit Act of 1971 to make foreign persons ineligible 
 for Farm Credit System institution financing, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 27, 2022

Mr. Grassley (for himself and Mr. Brown) introduced the following bill; 
  which was read twice and referred to the Committee on Agriculture, 
                        Nutrition, and Forestry

_______________________________________________________________________

                                 A BILL


 
To amend the Farm Credit Act of 1971 to make foreign persons ineligible 
 for Farm Credit System institution financing, 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 ``Farm Credit for Americans Act of 
2022''.

SEC. 2. INELIGIBILITY OF FOREIGN PERSONS FOR FARM CREDIT SYSTEM 
              INSTITUTION FINANCING.

    Part G of title IV of the Farm Credit Act of 1971 (12 U.S.C. 2219 
et seq.) is amended by adding at the end the following:

``SEC. 4.40. INELIGIBILITY OF FOREIGN PERSONS FOR FARM CREDIT SYSTEM 
              INSTITUTION FINANCING.

    ``(a) In General.--Effective beginning on January 1, 2024, except 
as provided in subsection (b), a foreign person (as defined in section 
9 of the Agricultural Foreign Investment Disclosure Act of 1978 (7 
U.S.C. 3508)) shall be ineligible for any credit or financial services 
provided by a Farm Credit System institution.
    ``(b) Exceptions.--The prohibition under subsection (a) shall not 
apply to--
            ``(1) any credit provided pursuant to a written loan 
        agreement entered into prior to January 1, 2024, or any 
        financial services related to such credit;
            ``(2) any participation in a loan pursuant to section 
        1.5(12)(C), 2.2(13), or 3.1(11)(A) originated by a lender that 
        is not a Farm Credit System institution;
            ``(3) any participation in a loan to a similar entity 
        pursuant to section 3.1(11)(B)(i) or 4.18A;
            ``(4) any credit or financial services provided pursuant to 
        section 3.7(b);
            ``(5) any investment made by a Farm Credit System 
        institution pursuant to section 1.5(15), 2.2(10), 3.1(13)(A), 
        or 8.11;
            ``(6) any note, bond, debenture, or other similar 
        obligation issued by the Federal Farm Credit Banks Funding 
        Corporation pursuant to this Act; or
            ``(7) any security or obligation issued or guaranteed by 
        the Federal Agricultural Mortgage Corporation pursuant to this 
        Act.''.
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