Bill to Ban Foreign Purchases of Farmland Reintroduced
Sen. Mike Rounds, R-S.D., and Senate Agriculture Appropriations Subcommittee Chairman John Hoeven, R-N.D., reintroduced the Promoting Agriculture Safeguards and Security (PASS) Act, legislation to ban individuals and entities controlled by China, Russia, Iran and North Korea from purchasing agricultural land and businesses located near U.S. military installations or sensitive sites.
Specifically, the PASS Act would ban purchases of agricultural land by individuals/entities controlled by North Korea, China, Russia and Iran near military installations and sensitive sites. It would also make the Secretary of Agriculture a voting member of the Committee on Foreign Investment in the United States (CFIUS) for all covered transactions involving the purchase of agricultural land, biotechnology, and any other transaction related to the agriculture industry in the United States.
Specifically, the PASS Act would ban purchases of agricultural land by individuals/entities controlled by North Korea, China, Russia and Iran near military installations and sensitive sites. It would also make the Secretary of Agriculture a voting member of the Committee on Foreign Investment in the United States (CFIUS) for all covered transactions involving the purchase of agricultural land, biotechnology, and any other transaction related to the agriculture industry in the United States.