Sens. Mike Rounds (R-S.D.) and John Tester (D-Mont.) on Feb. 1 introduced a bill to ban China, Russia, Iran, and North Korea from buying or leasing U.S. farmland and agricultural businesses.
The proposed legislation, named the PASS (Promoting Agriculture Safeguards and Security) Act of 2023, would require the president to report to Congress on any waiver granted to the prohibited countries. It would also make the secretary of agriculture a standing member of the Committee on Foreign Investment in the United States (CFIUS), a federal panel that reviews foreign acquisitions for national security risks, and specify agricultural investments as falling under CFIUS’ jurisdiction.
