Section 1 Short title
This Act may be cited as the “Farm Credit for Americans Act of 2022”.
Farm Credit for Americans Act of 2022
A BILL
To amend the Farm Credit Act of 1971 to make foreign persons ineligible for Farm Credit System institution financing, and for other purposes.
Sec. 2 Ineligibility of foreign persons for Farm Credit System institution financing
Part G of title IV of the Farm Credit Act of 1971 (12 U.S.C. 2219 et seq.) is amended by adding at the end the following:
“4.40. Ineligibility of foreign persons for Farm Credit System institution financing
“(a) In general—Effective beginning on January 1, 2024, except as provided in subsection (b), a foreign person (as defined in section 9 of the Agricultural Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3508)) shall be ineligible for any credit or financial services provided by a Farm Credit System institution.
“(b) Exceptions—The prohibition under subsection (a) shall not apply to—
“(1) any credit provided pursuant to a written loan agreement entered into prior to January 1, 2024, or any financial services related to such credit;
“(2) any participation in a loan pursuant to section 1.5(12)(C), 2.2(13), or 3.1(11)(A) originated by a lender that is not a Farm Credit System institution;
“(3) any participation in a loan to a similar entity pursuant to section 3.1(11)(B)(i) or 4.18A;
“(4) any credit or financial services provided pursuant to section 3.7(b);
“(5) any investment made by a Farm Credit System institution pursuant to section 1.5(15), 2.2(10), 3.1(13)(A), or 8.11;
“(6) any note, bond, debenture, or other similar obligation issued by the Federal Farm Credit Banks Funding Corporation pursuant to this Act; or
“(7) any security or obligation issued or guaranteed by the Federal Agricultural Mortgage Corporation pursuant to this Act.”