SAFE Act of 2016

Bill: 114-s-3161
Sponsor: full_name: Sen. Grassley, Chuck [R-IA]
Introduced: 2016-07-12
Policy area: Foreign Trade and International Finance
Subjects: Agricultural trade

Corporate finance and management

Department of Agriculture

Executive agency funding and structure

Foreign and international corporations

U.S. and foreign investments
Latest action: action_date: 2016-07-12
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2016-07-12
action_desc: Introduced in Senate
text: <p><b>Securing American Food Equity Act of 2016 or the SAFE Act of 2016 </b></p> <p>This bill amends the Defense Production Act of 1950 to include the Secretary of Agriculture on the Committee on Foreign Investment in the United States (CFIUS) and to require CFIUS to consider the national security-related effects on agricultural assets in reviewing transactions. </p> <p>(CFIUS is an interagency committee authorized under current law to review transactions that could result in control of a U.S. business by a foreign person in order to determine the effects of the transactions on national security.)</p>

tv_txt: II 114th CONGRESS 2d Session S. 3161 IN THE SENATE OF THE UNITED STATES July 12, 2016 Mr. Grassley introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To include the Secretary of Agriculture on the Committee on Foreign Investment in the United States and to provide for the consideration by that Committee of the national security effects of foreign investment on agricultural assets.

1. Short title This Act may be cited as the Securing American Food Equity Act of 2016 or the SAFE Act of 2016 . 2. Consideration of agricultural effects of foreign investment by Committee on Foreign Investment in the United States (a) Consideration of national security effects on agricultural assets Section 721(f)(6) of the Defense Production Act of 1950 ( 50 U.S.C. 4565(f)(6) ) is amended by inserting and agricultural after major energy . (b) Inclusion of Secretary of Agriculture 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. .