Us Congress 2023-2024 Regular Session

Us Congress Senate Bill SB168 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	II
2	2	118THCONGRESS
3	3	1
4	4	STSESSION S. 168
5	5	To amend the Defense Production Act of 1950 to include the Secretary
6	6	of Agriculture on the Committee on Foreign Investment in the United
7	7	States and require review of certain agricultural transactions, and for
8	8	other purposes.
9	9	IN THE SENATE OF THE UNITED STATES
10	10	JANUARY31, 2023
11	11	Mr. R
12	12	OUNDS(for himself, Mr. HOEVEN, Mr. TESTER, Mr. CRAMER, Ms. LUM-
13	13	MIS, and Mr. THUNE) introduced the following bill; which was read twice
14	14	and referred to the Committee on Banking, Housing, and Urban Affairs
15	15	A BILL
16	16	To amend the Defense Production Act of 1950 to include
17	17	the Secretary of Agriculture on the Committee on For-
18	18	eign Investment in the United States and require review
19	19	of certain agricultural transactions, and for other pur-
20	20	poses.
21	21	Be it enacted by the Senate and House of Representa-1
22	22	tives of the United States of America in Congress assembled, 2
23	23	SECTION 1. SHORT TITLE. 3
24	24	This Act may be cited as the ‘‘Promoting Agriculture 4
25	25	Safeguards and Security Act of 2023’’ or the ‘‘PASS Act 5
26	26	of 2023’’. 6
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29	29	•S 168 IS
30	30	SEC. 2. REVIEW OF AGRICULTURE-RELATED TRANS-1
31	31	ACTIONS BY CFIUS. 2
32	32	(a) I
33	33	NGENERAL.—Section 721 of the Defense Pro-3
34	34	duction Act of 1950 (50 U.S.C. 4565) is amended— 4
35	35	(1) in subsection (a)— 5
36	36	(A) in paragraph (4)— 6
37	37	(i) in subparagraph (A)— 7
38	38	(I) in clause (i), by striking ‘‘; 8
39	39	and’’ and inserting a semicolon; 9
40	40	(II) in clause (ii), by striking the 10
41	41	period at the end and inserting ‘‘; 11
42	42	and’’; and 12
43	43	(III) by adding at the end the 13
44	44	following: 14
45	45	‘‘(iii) any transaction described in 15
46	46	clause (vi) or (vii) of subparagraph (B) 16
47	47	proposed or pending on or after the date of 17
48	48	the enactment of this clause.’’; 18
49	49	(ii) in subparagraph (B), by adding at 19
50	50	the end the following: 20
51	51	‘‘(vi) Any other investment, subject to 21
52	52	regulations prescribed under subpara-22
53	53	graphs (D) and (E), by a foreign person in 23
54	54	any unaffiliated United States business 24
55	55	that is engaged in agriculture or bio-25
56	56	technology related to agriculture. 26
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59	59	•S 168 IS
60	60	‘‘(vii) Subject to subparagraphs (C) 1
61	61	and (E), the purchase or lease by, or a 2
62	62	concession to, a foreign person of private 3
63	63	real estate that is— 4
64	64	‘‘(I) located in the United States; 5
65	65	and 6
66	66	‘‘(II) used in agriculture.’’; 7
67	67	(iii) in subparagraph (C)(i), by strik-8
68	68	ing ‘‘subparagraph (B)(ii)’’ and inserting 9
69	69	‘‘clause (ii) or (vii) of subparagraph (B)’’; 10
70	70	(iv) in subparagraph (D)— 11
71	71	(I) in clause (i), by striking ‘‘sub-12
72	72	paragraph (B)(iii)’’ and inserting 13
73	73	‘‘clauses (iii) and (vi) of subparagraph 14
74	74	(B)’’; 15
75	75	(II) in clause (iii)(I), by striking 16
76	76	‘‘subparagraph (B)(iii)’’ and inserting 17
77	77	‘‘clauses (iii) and (vi) of subparagraph 18
78	78	(B)’’; 19
79	79	(III) in clause (iv)(I), by striking 20
80	80	‘‘subparagraph (B)(iii)’’ each place it 21
81	81	appears and inserting ‘‘clauses (iii) 22
82	82	and (vi) of subparagraph (B)’’; and 23
83	83	(IV) in clause (v), by striking 24
84	84	‘‘subparagraph (B)(iii)’’ and inserting 25
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87	87	•S 168 IS
88	88	‘‘clauses (iii) and (vi) of subparagraph 1
89	89	(B)’’; and 2
90	90	(v) in subparagraph (E), by striking 3
91	91	‘‘clauses (ii) and (iii)’’ and inserting 4
92	92	‘‘clauses (ii), (iii), (iv), and (vii)’’; and 5
93	93	(B) by adding at the end the following: 6
94	94	‘‘(14) A
95	95	GRICULTURE.—The term ‘agriculture’ 7
96	96	has the meaning given such term in section 3 of the 8
97	97	Fair Labor Standards Act of 1938 (29 U.S.C. 9
98	98	203).’’; 10
99	99	(2) in subsection (k)(2)— 11
100	100	(A) by redesignating subparagraphs (H), 12
101	101	(I), and (J), as subparagraphs (I), (J), and 13
102	102	(K), respectively; and 14
103	103	(B) inserting after subparagraph (G) the 15
104	104	following new subparagraph: 16
105	105	‘‘(H) The Secretary of Agriculture.’’; and 17
106	106	(3) by adding at the end the following: 18
107	107	‘‘(r) P
108	108	ROHIBITIONWITHRESPECT TO AGRICUL-19
109	109	TURALCOMPANIES ANDREALESTATE.— 20
110	110	‘‘(1) I
111	111	N GENERAL.—Notwithstanding any other 21
112	112	provision of this section, if the Committee, in con-22
113	113	ducting a review and investigation under this sec-23
114	114	tion, determines that a transaction described in 24
115	115	clause (i), (vi), or (vii) of subsection (a)(4)(B) would 25
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119	119	result in control by a covered foreign person of or 1
120	120	investment by a covered foreign person in a United 2
121	121	States business engaged in agriculture or private 3
122	122	real estate used in agriculture, the President shall 4
123	123	prohibit such transaction. 5
124	124	‘‘(2) W
125	125	AIVER.—The President may waive, on a 6
126	126	case-by-case basis, the requirement to prohibit a 7
127	127	transaction under paragraph (1), not less than 30 8
128	128	days after the President determines and reports to 9
129	129	the relevant committees of jurisdiction that it is vital 10
130	130	to the national security interests of the United 11
131	131	States to waive such prohibition. 12
132	132	‘‘(3) D
133	133	EFINED TERMS.—In this subsection: 13
134	134	‘‘(A) C
135	135	OVERED FOREIGN PERSON .—The 14
136	136	term ‘covered foreign person’ means a person 15
137	137	that is— 16
138	138	‘‘(i) acting on behalf of or otherwise 17
139	139	directed by the government of a prohibited 18
140	140	country; 19
141	141	‘‘(ii) a citizen of a prohibited country; 20
142	142	‘‘(iii) an entity that— 21
143	143	‘‘(I) is registered or organized in 22
144	144	a prohibited country; or 23
145	145	‘‘(II) has a principal place of 24
146	146	business in a prohibited country; or 25
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150	150	‘‘(iv) a subsidiary of an entity de-1
151	151	scribed in clause (iii). 2
152	152	‘‘(B) P
153	153	ROHIBITED COUNTRY .—The term 3
154	154	‘prohibited country’ means any of the following: 4
155	155	‘‘(i) The People’s Republic of China. 5
156	156	‘‘(ii) The Russian Federation. 6
157	157	‘‘(iii) The Islamic Republic of Iran. 7
158	158	‘‘(iv) The Democratic People’s Repub-8
159	159	lic of Korea.’’. 9
160	160	(b) R
161	161	EPORTREQUIRED.—Not later than 180 days 10
162	162	after the date of the enactment of this Act, and every 180 11
163	163	days thereafter, the Secretary of Agriculture shall submit 12
164	164	to the Committee on Agriculture of the House of Rep-13
165	165	resentatives and the Committee on Agriculture, Nutrition, 14
166	166	and Forestry of the Senate a report on the risks that for-15
167	167	eign purchases of United States businesses engaged in ag-16
168	168	riculture (as such term is defined in section 3 of the Fair 17
169	169	Labor Standards Act of 1938 (29 U.S.C. 203)) pose to 18
170	170	the agricultural sector of the United States. 19
171	171	Æ
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