If enacted, the bill will significantly modify existing regulations by broadening the definitions and criteria for reporting foreign agricultural investments. By mandating more stringent disclosures, the bill seeks to facilitate the tracking of international stakeholders involved in U.S. agricultural land. This move is likely to enhance national security by allowing authorities to scrutinize foreign ownership and ensure that agricultural resources are safeguarded against potential threats arising from foreign control.
Summary
SB3666, titled the 'AFIDA Improvements Act of 2024', proposes amendments to the Agricultural Foreign Investment Disclosure Act of 1978. The bill's primary aim is to enhance reporting obligations regarding foreign ownership of agricultural land in the United States. It stipulates that any foreign entity or person holding at least a 1 percent interest in agricultural land must be disclosed under the revised reporting framework. This change is designed to ensure greater transparency and oversight of foreign investments that may impact national food security.
Contention
Opponents of the bill may argue that the increased scrutiny on foreign investments could have adverse effects on agricultural growth, potentially deterring legitimate foreign investment essential for the sector. There are concerns that these heightened regulations could lead to unnecessary bureaucracy, making it more complicated for agricultural businesses to engage with foreign partners. Furthermore, some stakeholders might perceive the push for these amendments as a reaction to specific geopolitical tensions, raising questions about the balance between security and the facilitation of international business operations.
Protecting America's Agricultural Land from Foreign Harm Act of 2025This bill prohibits persons associated with the governments of Iran, North Korea, China, or Russia from purchasing or leasing agricultural land in the United States.Specifically, the President must prohibit any person (individual or entity) owned by, controlled by, or subject to the jurisdiction or direction of these foreign governments from purchasing or leasing (1) public agricultural land that is owned by the United States and administered by a federal department or agency, or (2) private agricultural land that is located in the United States.A person that violates or attempts to violate this prohibition is subject to civil and criminal penalties. This prohibition does not require a person that owns or leases agricultural land as of the date of this bill's enactment to sell that land.Further, the President must prohibit a person associated with these foreign governments and who leases, or who has full or partial ownership of, agricultural land in the United States from participating in Department of Agriculture (USDA) programs. Exceptions are included to allow for participation in USDA programs related to food safety, the health and labor safety of individuals, or certain reporting and disclosure requirements.The bill excludes U.S. citizens or lawful permanent residents from these restrictions.The bill also amends the Agricultural Foreign Investment Disclosure Act of 1978 (AFIDA) to require reporting on security interests and leases.Finally, the Government Accountability Office must submit a report to Congress on AFIDA.