This bill amends the Defense Production Act of 1950 to strengthen oversight of foreign investments in American agriculture. It requires the Secretary of Agriculture to join the Committee on Foreign Investment in the United States when reviewing transactions involving agricultural land, agriculture biotechnology, or agricultural industries like transportation, storage, and processing. The legislation specifically targets acquisitions of agricultural land interests by foreign persons from China, North Korea, Russia, and Iran, requiring the committee to determine whether such transactions pose national security concerns and whether to initiate a formal review. These requirements will continue until a country is removed from the list of foreign adversaries, providing an ongoing mechanism to monitor and potentially block agricultural investments from identified foreign adversaries. The bill does not specify new funding requirements or implementation timelines beyond the existing foreign investment review process.
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