DARE Act of 2023

Bill: 118-hr-1448
Sponsor: full_name: Rep. Feenstra, Randy [R-IA-4]
Introduced: 2023-03-08
Policy area: International Affairs
Latest action: action_date: 2023-03-08
text: 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.

Summaries:
action_date: 2023-03-08
action_desc: Introduced in House
text: <p><b>Defend America's Rural Energy Act of 2023 or the DARE Act of 2023</b></p> <p>This bill requires the Committee on Foreign Investment in the United States (CFIUS) to review certain real estate transactions by foreign governments. (CFIUS is an interagency committee that oversees the national security risk of certain foreign direct investments in the U.S. economy. It may recommend that the President suspend or prohibit certain transactions.)</p> <p>Under the bill, CFIUS must review the acquisition by a foreign government or an entity acting on its behalf of (1) agricultural land used to grow corn and soybeans for the purpose of renewable energy, or (2) land used for wind turbines or other wind energy production. The transfer of an interest in such land to a foreign government or an entity acting on its behalf is likewise subject to CFIUS review.</p> <p>The bill also prohibits China, Russia, Iran, and North Korea, as well as persons acting on their behalf, from acquiring any interest in these types of land. </p>

tv_txt: I 118th CONGRESS 1st Session H. R. 1448 IN THE HOUSE OF REPRESENTATIVES March 8, 2023 Mr. Feenstra (for himself, Mr. Van Orden , Mr. Lawler , Mr. Guest , and Mr. Higgins of Louisiana ) 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 prohibit investment by foreign adversaries in United States real estate suitable for renewable energy or renewable fuels production, and for other purposes.

1. Short title This Act may be cited as the Defend America’s Rural Energy Act of 2023 or the DARE Act of 2023 . 2. Transactions relating to United States real estate suitable for renewable energy or renewable fuels production Section 721 of the Defense Production Act of 1950 ( 50 U.S.C. 4565 ) is amended— (1) in subsection (a)(4)— (A) in subparagraph (A)— (i) in clause (i), by striking ; and and inserting a semicolon; (ii) in clause (ii), by striking the period at the end and inserting ; and ; and (iii) 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 this clause. ; and (B) in subparagraph (B), by adding at the end the following: (vi) Any acquisition of, or transfer of an interest to, a foreign government or an entity acting on behalf of a foreign government with respect to— (I) agricultural land used to grow corn and soybeans for the purpose of renewable energy; or (II) land used for wind turbines or other wind energy production. ; and (2) by adding at the end the following: (r) Prohibition with respect to certain transactions relating to real estate suitable for renewable energy or renewable fuels production (1) In general Notwithstanding any other provision of law, a covered country (or a person acting on behalf of a covered country) may not acquire any interest with respect to land described in subclause (I) or (II) of subsection (a)(4)(B)(vi). (2) Covered country In this subsection, the term covered country means each of the following: (A) China. (B) Iran. (C) North Korea. (D) Russia. .