January 22, 2025
Mr. Jackson of Texas (for himself, Mr. Sessions, Mr. Panetta, Mr. Vicente Gonzalez of Texas, Mr. Moylan, Mr. Zinke, Mr. Estes, Mr. Finstad, Mrs. Hinson, Mrs. Miller of Illinois, Mr. Costa, Mr. Fallon, Mr. Messmer, Mr. Rose, Mr. Weber of Texas, Mr. Johnson of South Dakota, Mr. Newhouse, and Mr. Crawford) introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned
To amend the Defense Production Act of 1950 to prevent harm and disruption to the United States agriculture industry by protecting against foreign influence over agriculture production and supply chains, and for other purposes.
Section 1. Short title
This Act may be cited as the Foreign Adversary Risk Management Act
or the FARM Act
.
Sec. 2. United States agriculture included in Committee on Foreign Investment in the United States
(a) Agriculture representative
Section 721(k)(2) of the Defense Production Act of 1950 (50 U.S.C. 4565(k)(2)) is amended—
(1)
by redesignating subparagraphs (H), (I), and (J) as subparagraphs (I), (J), and (K), respectively; and
(2)
by inserting after subparagraph (G) the following:
(H)
The Secretary of Agriculture.
(b) Review of agriculture investments by foreign entities
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 subparagraph (B)(vi) that is proposed, pending, or completed on or after the date of the enactment of the Foreign Adversary Risk Management Act.; and
(2)
in subparagraph (B), by adding at the end the following:
(vi)
Any transaction, merger, acquisition, transfer, agreement, takeover, or other arrangement that could result in foreign control of any United States business that is engaged in agriculture and uses agricultural products (as defined in the first section of the Act of July 2, 1926 (44 Stat. 802, chapter 725; 7 U.S.C. 451)).
(c) Agricultural supply chains included in critical infrastructure
Section 721(a)(5) of the Defense Production Act of 1950 (50 U.S.C. 4565(a)(5)) is amended—
(1)
by striking
and inserting the following:critical infrastructure
means
critical infrastructure—(i)
means;
(2)
by striking the period at the end and inserting ; and
; and
(3)
by adding at the end the following:
(ii)
includes, subject to regulations prescribed by the Committee, agricultural systems and supply chains.
(d) Agricultural supply chains included as critical technologies
Section 721(a)(6)(A) of the Defense Production Act of 1950 (50 U.S.C. 4565(a)(6)(A)) is amended by adding at the end the following:
(vii)
Agricultural supply chains used for agricultural products (as defined in the first section of the Act of July 2, 1926 (44 Stat. 802, chapter 725; 7 U.S.C. 451)).
Sec. 3. Reports on investments by foreign countries in United States agriculture industry
Not later than one year after the date of the enactment of this Act and annually thereafter, the Secretary of Agriculture and the Comptroller General of the United States shall each—
(1)
conduct an analysis of foreign influence in the United States agriculture industry; and
(2)
submit to Congress a report that includes a summary of—
(A)
foreign investments in the United States agriculture industry;
(B)
the potential for foreign investment to undermine United States agriculture production and agricultural supply chains;
(C)
the largest international threats for increased foreign control of, and investment in, the United States agriculture sector; and
(D)
agriculture-related espionage and theft techniques used by foreign governments, including any attempts to target United States agricultural intellectual property, innovation, research and development, cost or pricing data, or internal strategy documents.