This bill requires the Secretary of Agriculture to sign one or more memoranda of understanding with the Committee on Foreign Investment in the United States (CFIUS) within 1 year. Under those agreements, the Secretary must provide CFIUS with all relevant information from reports filed under section 2 of the Agricultural Foreign Investment Disclosure Act (AFIDA). The bill says the information must include each AFIDA report, the identity of the foreign persons in each report, and the date each report was submitted. The bill also requires the Secretary to update the Farm Service Agency handbook titled "Foreign Investment Disclosure" within 2 years and to incorporate recommendations from a Government Accountability Office (GAO) report dated January 18, 2024. After that update, the handbook must be updated every 10 years and may include future GAO recommendations.
If you file an AFIDA report or follow foreign ownership of agricultural land, the information you report to the Secretary will be shared with CFIUS under the required memoranda of understanding. The Farm Service Agency handbook on foreign investment disclosure will be revised within 2 years and on a 10-year schedule afterward.
No publicly available information on costs, funding, or budget effects is included in the bill text.
No publicly available information.
No publicly available information.