Section 1 Short title
This Act may be cited as the “Protecting American Agriculture from Foreign Adversaries Act of 2024”.
Protecting American Agriculture from Foreign Adversaries Act of 2024
A BILL
To amend the Defense Production Act of 1950 and the Agricultural Foreign Investment Disclosure Act of 1978 with respect to foreign investments in United States agriculture.
Sec. 2 Inclusion of Secretary of Agriculture on Committee on Foreign Investment in United States and notification requirement for particular covered transaction
Inclusion on the committee— 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—For purposes of paragraph (2)(J), 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—
“(i) transportation;
“(ii) storage; and
“(iii) processing.”
Notification of a particular covered transaction— The Agricultural Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3501, et seq.) is amended—
in section 2, by adding at the end the following:
“(g)
“(1) The Secretary shall, to the maximum extent practicable, notify the Committee on Foreign Investment in the United States with respect to each covered transaction relating to agricultural land that the Secretary has reason to believe, based on information received from or in cooperation with the intelligence community—
“(A) may pose a risk to the national security of the United States; and
“(B) requires a report to be submitted to the Secretary of Agriculture under subsection (a).
“(2) Under paragraph (1), the Secretary shall prioritize notification in the case of a covered transaction where a foreign country of concern or a foreign entity of concern acquires or transfers an interest in agricultural land other than a security interest.”
in section 9—
in paragraph (5), by striking “and”;
in paragraph (6), by striking the period at the end and inserting a semicolon; and
by adding at the end the following:
“(7) the term “covered transaction” has the meaning given such term in section 721(a) of the Defense Production Act of 1950 (50 U.S.C. 4565(a));
“(8) the terms “foreign country of concern” and “foreign entity of concern” have the meanings given such terms in section 10612(a) of the CHIPS Act of 2022 (42 U.S.C. 19221(a)), respectively; and
“(9) the term “intelligence community” has the meaning given such term in section 3 of the National Security Act of 1947 (50 U.S.C. 3003).”