A bill to increase oversight of foreign direct investment in agricultural land in the United States, and for other purposes. A bill to increase oversight of foreign direct investment in...

Bill 119 s 1012, also known as the "Foreign Investment in Agricultural Land Oversight and Transparency Act," aims to enhance the monitoring and regulation of foreign direct investment in agricultural land within the United States. The bill seeks to address concerns about the potential impact of foreign ownership of American farmland on food security, national security, and the environment. Under this legislation, the Secretary of Agriculture would be required to establish a national database to track foreign ownership of agricultural land. This database would provide transparency and allow for better oversight of foreign investments in the agricultural sector. Additionally, the bill would mandate that foreign investors report their acquisitions of agricultural land to the Secretary of Agriculture, ensuring that these transactions are properly documented and monitored. Furthermore, the bill includes provisions to safeguard against potential threats to national security posed by foreign ownership of agricultural land. It requires the Committee on Foreign Investment in the United States (CFIUS) to review certain transactions involving foreign investment in agricultural land to assess any potential risks to national security. This increased scrutiny aims to protect American interests and prevent any exploitation of the agricultural sector by foreign entities. Overall, Bill 119 s 1012 seeks to strengthen oversight of foreign direct investment in agricultural land in the United States to ensure that such investments are conducted in a transparent and responsible manner. By enhancing monitoring and regulation of foreign ownership of American farmland, the bill aims to protect food security, national security, and the environment while promoting the interests of American farmers and consumers.