FARM Act
This bill brings foreign purchases of American farms and agricultural businesses under direct national security oversight. It adds the Secretary of Agriculture to the federal panel that reviews foreign investments and classifies agricultural supply chains as critical infrastructure, allowing the government to block deals that give foreign buyers control over U.S. food production. Additionally, federal agencies must submit annual reports to Congress tracking foreign agricultural investments, supply chain vulnerabilities, and attempts by foreign actors to steal farming technology or trade secrets.
What this bill touches.
Who it helps · who it burdens.
Who it helps
- Secretary of AgricultureAppointed as a permanent statutory member of the Committee on Foreign Investment in the United States (CFIUS), gaining a direct role in national security reviews of foreign investments (Sec. 2(a)).
Who it burdens
- Foreign entities investing in U.S. agricultureSubject to CFIUS national security review and potential restrictions on proposed, pending, or completed transactions, mergers, or agreements that could result in foreign control of U.S. agricultural businesses (Sec. 2(b)), with agricultural systems and supply chains classified as critical infrastructure and critical technologies (Sec. 2(c), Sec. 2(d)).
- U.S. agricultural businesses seeking foreign investmentTransactions, mergers, acquisitions, and agreements involving foreign control become subject to CFIUS national security reviews and scrutiny as critical infrastructure and critical technologies (Sec. 2(b), Sec. 2(c), Sec. 2(d)).
- Department of Agriculture and Government Accountability OfficeMust conduct annual analyses and submit reports to Congress assessing foreign investments, supply chain vulnerabilities, national security threats, and agriculture-related espionage or intellectual property theft (Sec. 3).
The provisions, in plain language.
Adds the Secretary of Agriculture as a permanent member of the Committee on Foreign Investment in the United States (CFIUS).
Expands CFIUS national security reviews to include proposed, pending, or completed transactions that could result in foreign control of U.S. agricultural businesses.
Designates agricultural systems and supply chains as critical infrastructure for foreign investment national security reviews.
Classifies agricultural supply chains as critical technologies under foreign investment review laws.
Requires the Secretary of Agriculture and the Comptroller General to submit annual reports to Congress analyzing foreign investments, espionage, intellectual property theft, and security risks in the U.S. agriculture sector.