S.Amdt. 3189

This amendment, submitted by Mr. Rounds and Ms. Cortez Masto, aims to change the Defense Production Act of 1950 to give the Committee on Foreign Investment in the United States (CFIUS) more power to review and stop certain agricultural transactions.

Key Changes and Goals:

• Agricultural Reviews: It adds "agriculture" to the act and requires the Committee to determine if a "reportable agricultural land transaction" is a "covered transaction" within 30 days of being notified by the Secretary of Agriculture.

• New Prohibitions: The President must prohibit transactions if the Committee finds that a "covered foreign person" (someone acting for the government of a "covered country") would:

  • Lease or buy agricultural land located close to a U.S. military installation or other sensitive government property.
  • Gain control of a U.S. business engaged in agriculture.

• Covered Countries: The restrictions specifically target foreign persons linked to the governments of the People's Republic of China, the Russian Federation, the Islamic Republic of Iran, and the Democratic People's Republic of Korea, provided they are determined to be foreign adversaries.

• Exceptions and Waivers: The President can waive these prohibitions on a case-by-case basis if it is reported to specific House and Senate committees that the waiver is in the national interest of the United States.

• Administrative Requirements: It requires departments or agencies on the Committee to submit their most recent spending plans and directs the President to issue regulations to carry out these changes.