119-s1012

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 1012 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
 S. 1012

To increase oversight of foreign direct investment in agricultural land 
 in the United States, and for other purposes.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 March 12, 2025

 Mr. Lankford (for himself, Mr. Bennet, Mr. Risch, and Mr. Tillis) 
introduced the following bill; which was read twice and referred to the 
 Committee on Agriculture, Nutrition, and Forestry

_______________________________________________________________________

 A BILL

To increase oversight of foreign direct investment in agricultural land 
 in the United States, and for other purposes.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Security and Oversight for 
International Landholdings Act of 2025'' or the ``SOIL Act of 2025''.

SEC. 2. REVIEW BY COMMITTEE ON FOREIGN INVESTMENT IN THE UNITED STATES 
 OF CERTAIN AGRICULTURAL REAL ESTATE TRANSACTIONS.

 

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
            (C) by adding at the end the following:
 ``
            (iii) any transaction described in clause
            (vi) or
            (vii) of subparagraph
        (B) proposed or 
 pending on or after the date of the enactment 
 of this clause.''; and

    (2) in subparagraph
        (B) , by adding at the end the 
 following:
 ``
            (vi) Any acquisition or transfer of an 
 interest, other than a security, in 
 agricultural land held by a person that is a 
 national of, or is organized under the laws or 
 otherwise subject to the jurisdiction of, a 
 country--
 ``
            (I) designated as a nonmarket 
 economy country pursuant to 

section 771

    (18) of the Tariff Act of 1930 (19 
 U.S.C. 1677

    (18) ); or
 ``
            (II) identified as a country that 
 poses as risk to the national security 
 of the United States in the most recent 
 annual report on worldwide threats 
 issued by the Director of National 
 Intelligence pursuant to 

section 108B 
 of the National Security Act of 1947 
 (50 U.S.C. 3043b)(commonly known as the 
 `Annual Threat Assessment').''.

SEC. 3. REVIEW BY COMMITTEE ON FOREIGN INVESTMENT IN THE UNITED STATES 
 OF REAL ESTATE TRANSACTIONS NEAR MILITARY INSTALLATIONS.

 

Section 721

    (a)

    (4)
        (B) of the Defense Production Act of 1950 (50 
U.S.C. 4565

    (a)

    (4)
        (B) ), as amended by 

section 2, is amended by adding at 
the end the following:
 ``
            (vii) Any acquisition or transfer of an 
 interest, other than a security, in any form of 
 real estate that is located not more than 50 
 miles from a military installation (as that 
 term is defined in 

section 2801
            (c) (4) of title 
 10, United States Code) other than residential 
 property held by a person that is a national 
 of, or is organized under the laws or otherwise 
 subject to the jurisdiction of, a country--
 ``
            (I) designated as a nonmarket 
 economy country pursuant to 

section 771

    (18) of the Tariff Act of 1930 (19 
 U.S.C. 1677

    (18) ); or
 ``
            (II) identified as a country that 
 poses as risk to the national security 
 of the United States in the most recent 
 annual report on worldwide threats 
 issued by the Director of National 
 Intelligence pursuant to 

section 108B 
 of the National Security Act of 1947 
 (50 U.S.C. 3043b)(commonly known as the 
 `Annual Threat Assessment').''.

SEC. 4. PROHIBITION ON USE OF FUNDS FOR CERTAIN AGRICULTURAL REAL 
 ESTATE HOLDINGS.

 No assistance, including subsidies, may be provided by any Federal 
agency to a person for an agricultural real estate holding wholly or 
partly owned by a person that is a national of, or is organized under 
the laws or otherwise subject to the jurisdiction of, a country--

    (1) designated as a nonmarket economy country pursuant to 
 

section 771

    (18) of the Tariff Act of 1930 (19 U.S.C. 1677

    (18) ); 
 or

    (2) identified as a country that poses as risk to the 
 national security of the United States in the most recent 
 annual report on worldwide threats issued by the Director of 
 National Intelligence pursuant to 

section 108B of the National 
 Security Act of 1947 (50 U.S.C. 3043b)(commonly known as the 
 ``Annual Threat Assessment'').

SEC. 5. DISCLOSURE REQUIREMENTS FOR FOREIGN AGRICULTURAL REAL ESTATE 
 HOLDINGS.

    (a) Reporting Requirements.--

Section 2

    (a) of the Agricultural 
Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3501

    (a) ) is 
amended--

    (1) in the first sentence of the matter preceding paragraph

    (1) --
        (A) by inserting ``, or enters into a leasing 
 agreement the period of which is longer than 5 years 
 with respect to agricultural land,'' after 
 ``agricultural land''; and
        (B) by striking ``acquisition or transfer'' and 
 inserting ``acquisition, transfer, or lease''; and

    (2) in paragraph

    (4) , by striking ``acquired or 
 transferred'' and inserting ``acquired, transferred, or 
 leased''.

    (b) Revocation of Minimum Acreage Requirement.--

Section 9

    (1) of the 
Agricultural Foreign Investment Disclosure Act of 1978 (7 U.S.C. 
3508

    (1) ) is amended by inserting ``, subject to the condition that the 
Secretary may not exclude land from this definition based on the 
acreage of the land'' before the semicolon at the end.

SEC. 6. REPORTS OF HOLDINGS OF AGRICULTURAL LAND IN THE UNITED STATES 
 BY FOREIGN PERSONS.

 

Section 6 of the Agricultural Foreign Investment Disclosure Act of 
1978 (7 U.S.C. 3505) is amended--

    (1) by striking the section designation and heading and all 
 that follows through ``Not later than'' and inserting the 
 following:

``

SEC. 6. REPORTS.

 ``

    (a) Transmission of Reports to States.--Not later than''; and

    (2) by adding at the end the following:
 ``

    (b) Annual Report.--
 ``

    (1) In general.--Annually, the Secretary shall prepare 
 and make publicly available a report describing holdings of 
 agricultural land by foreign persons, as determined by reports 
 submitted under 

section 2, including--
 ``
        (A) an analysis of the countries with the most 
 extensive agricultural land holdings on a State-by-
 State and county-by-county basis;
 ``
        (B) data and an analysis of agricultural land 
 holdings in each county in the United States by a 
 foreign person from--
 ``
            (i) the People's Republic of China;
 ``
            (ii) the Russian Federation; or
 ``
            (iii) any other country that the 
 Secretary determines to be appropriate; and
 ``
            (C) an analysis of the sectors and industries for 
 which the agricultural land holdings are used.
 ``

    (2) Transmission to states.--The Secretary shall transmit 
 the report prepared under paragraph

    (1) to each State 
 department of agriculture or appropriate State agency described 
 in subsection

    (a) in conjunction with the applicable reports 
 transmitted under that subsection.''.
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