February 27, 2025
Mr. Lucas introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committees on Energy and Commerce, and Foreign Affairs, 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
To amend the Defense Production Act of 1950 to include the Secretary of Agriculture as a member of the Committee on Foreign Investment in the United States, and for other purposes.
Section 1. Short title
This Act may be cited as the Agricultural Risk Review Act of 2025
.
Sec. 2. Inclusion of the Secretary of Agriculture on CFIUS
Section 721(k) of the Defense Production Act of 1950 (50 U.S.C. 4565(k)) is amended by adding at the end the following:
(8) Inclusion of the Secretary of Agriculture
The Secretary of Agriculture shall be a member of the Committee with respect to a covered transaction that involves—
(A)
agricultural land;
(B)
agriculture biotechnology; or
(C)
the agriculture industry, including agricultural transportation, storage, and processing.
Sec. 3. 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
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 transactionmeans a transaction—(I)
that the Secretary of Agriculture has reason to believe is a covered transaction, based on information from or in cooperation with the intelligence community;
(II)
that involves the acquisition of an interest in agricultural land by a foreign person of the People’s Republic of China, the Democratic People’s Republic of Korea, the Russian Federation, or the Islamic Republic of Iran; 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.
(iii) Sunset
The requirements under this subparagraph shall terminate, with respect to a foreign person of the respective foreign country, on the date that the People’s Republic of China, the Democratic People’s Republic of Korea, the Russian Federation, or the Islamic Republic of Iran, as the case may be, is removed from the list of foreign adversaries in section 791.4 of title 15, Code of Federal Regulations.