S 2060
Farmland act of 2023
Farmland Act of 2023
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Bill overview
The Farmland Act of 2023 expands the authority of the Committee on Foreign Investment in the United States (CFIUS) to review foreign land transactions, particularly those involving agriculture, energy, or critical materials, exceeding $5 million or 320 acres. It adds the Secretary of Agriculture and the Commissioner of Food and Drugs to CFIUS membership, strengthens enforcement of the Agricultural Foreign Investment Disclosure Act (AFIDA) through a new Chief of Operations, and prohibits foreign owners from participating in Farm Service Agency programs. The bill also requires the USDA and Homeland Security to create a database of agricultural land owned by foreign persons and includes provisions for increased oversight and reporting related to foreign investment in agricultural land.
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Primary sponsor
Cosponsor
Debbie Stabenow
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