S 68 — FARM Act

Bill Text

• Introduced Introduced in Senate Current html January 25, 2023

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill includes agriculture in the Committee on Foreign Investment in the United States and enhances scrutiny of foreign transactions in the agriculture sector.

• 50 U.S.C. 4565(k)(2)

  subparagraphs (H), (I), and (J) → subparagraphs (I), (J), and (K)

  This change updates the designation of subparagraphs to include an agriculture representative.

• 50 U.S.C. 4565(k)(2)

  The Secretary of Agriculture.

  This adds the Secretary of Agriculture as a member of the Committee on Foreign Investment in the United States.

• 50 U.S.C. 4565(a)(4)

  and → ;

  This change modifies the punctuation to accommodate the new clause that follows.

• 50 U.S.C. 4565(a)(4)

  the period at the end → ; and

  This change prepares for an additional clause regarding agriculture transactions.

• 50 U.S.C. 4565(a)(4)

  any transaction described in subparagraph (B)(vi) that is proposed, pending, or completed on or after the date of the enactment of the Foreign Adversary Risk Management Act.

  This addition expands the definition of covered transactions to include foreign control transactions related to agriculture.

• 50 U.S.C. 4565(a)(4)(B)

  Any transaction, merger, acquisition, transfer, agreement, takeover, or other arrangement that could result in foreign control of any United States business that is engaged in agriculture and uses agricultural products (as defined in the first section of the Act of July 2, 1926 (44 Stat. 802, chapter 725; 7 U.S.C. 451)).

  This new subparagraph explicitly includes agriculture-related transactions under scrutiny.

• 50 U.S.C. 4565(a)(5)

  `critical infrastructure' means → `critical infrastructure'-- `(A) means'

  This changes the definition structure of 'critical infrastructure' to allow for additional specifications.

• 50 U.S.C. 4565(a)(5)

  the end → ; and

  This change permits an additional qualification to be added.

• 50 U.S.C. 4565(a)(5)

  includes, subject to regulations prescribed by the Committee, agricultural systems and supply chains.

  This explicitly includes agricultural systems and supply chains as critical infrastructure.

• 50 U.S.C. 4565(a)(6)(A)

  Agricultural supply chains used for agricultural products (as defined in the first section of the Act of July 2, 1926 (44 Stat. 802, chapter 725; 7 U.S.C. 451)).

  This adds agricultural supply chains to the definition of critical technologies.

Action History

1. January 25, 2023

   Introduced in Senate

2. January 25, 2023

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

• Mike Braun · Cosponsor
• Kevin Cramer · Cosponsor
• Roger Marshall · Cosponsor
• Cynthia M. Lummis · Cosponsor
• Rick Scott · Cosponsor
• John Hoeven · Cosponsor
• Marsha Blackburn · Cosponsor
• Katie Boyd Britt · Cosponsor
• Deb Fischer · Cosponsor
• Steve Daines · Cosponsor
• Eric Schmitt · Cosponsor
• Tommy Tuberville · Primary

Subjects