Current status is Referred to the Subcommittee on Nutrition and Foreign Agriculture.

119th CONGRESS

1st Session

H. R. 620

1. Short title
2. United States agriculture included in Committee on Foreign Investment in the United States
3. Reports on investments by foreign countries in United States agriculture industry

1. Short title

This Act may be cited as the "Foreign Adversary Risk Management Act" or the "FARM Act".

2. United States agriculture included in Committee on Foreign Investment in the United States

(a) Agriculture representative - Section 721(k)(2) of the Defense Production Act of 1950 (50 U.S.C. 4565(k)(2)) is amended—

(1) - by redesignating subparagraphs (H), (I), and (J) as subparagraphs (I), (J), and (K), respectively; and

(2) - by inserting after subparagraph (G) the following:

(H) - The Secretary of Agriculture.

(b) Review of agriculture investments by foreign entities - Section 721(a)(4) of the Defense Production Act of 1950 (50 U.S.C. 4565(a)(4)) is amended—

(1) - in subparagraph (A)—

(A) - in clause (i), by striking "; and" and inserting a semicolon;

(B) - in clause (ii), by striking the period at the end and inserting "; and"; and

(iii) - 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.

(2) - in subparagraph (B), by adding at the end the following:

(vi) - 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)).

(c) Agricultural supply chains included in critical infrastructure - Section 721(a)(5) of the Defense Production Act of 1950 (50 U.S.C. 4565(a)(5)) is amended—

(1) - by striking ""critical infrastructure" means" and inserting the following:

(i) - means

(2) - by striking the period at the end and inserting "; and"; and

(3) - by adding at the end the following:

(ii) - includes, subject to regulations prescribed by the Committee, agricultural systems and supply chains.

(d) Agricultural supply chains included as critical technologies - Section 721(a)(6)(A) of the Defense Production Act of 1950 (50 U.S.C. 4565(a)(6)(A)) is amended by adding at the end the following:

(vii) - 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)).

3. Reports on investments by foreign countries in United States agriculture industry

Not later than one year after the date of the enactment of this Act and annually thereafter, the Secretary of Agriculture and the Comptroller General of the United States shall each—

(1) - conduct an analysis of foreign influence in the United States agriculture industry; and

(2) - submit to Congress a report that includes a summary of—

(A) - foreign investments in the United States agriculture industry;

(B) - the potential for foreign investment to undermine United States agriculture production and agricultural supply chains;

(C) - the largest international threats for increased foreign control of, and investment in, the United States agriculture sector; and

(D) - agriculture-related espionage and theft techniques used by foreign governments, including any attempts to target United States agricultural intellectual property, innovation, research and development, cost or pricing data, or internal strategy documents.