,,ii  #aaith ,,congress  #ast ,session  
,s4 #ijc  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,march #f1 #bjbe,mr4
 ,rounds 7for himself1 ,ms4 ,cortez     
,masto1 ,ms4 ,lummis1 ,mr4 ,thune1 and  
,mr4 ,hoeven7 introduced the following  
bill2 which was read twice and referred 
to the ,committee on ,banking1 ,housing1
 and ,urban ,affairs  ,a ,,bill  ,to    
amend the ,defense ,production ,act of  
#aiej to require the ,committee on      
,foreign ,investment in the ,united     
,states to review and prohibit certain  
transactions relating to agriculture4   
#a4 ,short title ,this ,act may be cited
 as the ,promoting ,agriculture         
,safeguards and ,security ,act or the   
,,pass ,act4  #b4 ,review and           
prohibitions by ,committee on ,foreign  
,investment in the ,united ,states of   
certain transactions relating to        
agriculture  7a7 ,in general ,section   
#gba of the ,defense ,production ,act of
 #aiej 7#ej ,u4,s4,c4 #defe7 is         
amended-- 7#a7 in subsection 7a71 by    

adding at the end the following3  7#ad7 
,agriculture ,the term agriculture has  
the meaning given that term in section  
#c of the ,fair ,labor ,standards ,act  
of #aich 7#bi ,u4,s4,c4 #bjc74  2  7#b7 
in subsection 7b77#a71 by adding at the 
end the following3  7,i7 ,consideration 
of certain agricultural land            
transactions  7i7 ,in general ,not later
 than #cj days after receiving          
notification from the ,secretary of     
,agriculture of a reportable            
agricultural land transaction1 the      
,committee shall determine-- 7,i7       
whether the transaction is a covered    
transaction2 and  7,,ii7 if the         
,committee determines that the          
transaction is a covered transaction1   
whether to-- 7aa7 request the submission
 of a notice under clause 7i7 of        
subparagraph 7,c7 or a declaration under
 clause 7v7 of such subparagraph        
pursuant to the process established     
under subparagraph 7,h72 or  7bb7       
initiate a review pursuant to           

subparagraph 7,d74  7ii7 ,reportable    
agricultural land transaction defined   
,in this subparagraph1 the term         
reportable agricultural land transaction
 means a transaction-- 7,i7 that the    
,secretary of ,agriculture has reason to
 believe is a covered transaction2      
7,,ii7 that involves the acquisition of 
an interest in agricultural land by a   
foreign person1 other than an excepted  
investor or an excepted real estate     
investor1 as such terms are defined in  
regulations prescribed by the           
,committee2 and  7,,iii7 with respect to
 which a person is required to submit a 
report to the ,secretary of ,agriculture
 under section #b7;a7 of the            
,agricultural ,foreign ,investment      
,disclosure ,act of #aigh 7#g ,u4,s4,c4 
#ceja7;a774  2  7#c7 in subsection      
7k77#b7-- 7,a7 by redesignating         
subparagraphs 7,h71 7,i71 and 7,j7 as   
subparagraphs 7,i71 7,j71 and 7,k71     
respectively2 and  7,b7 by inserting    
after subparagraph 7,g7 the following3  

7,h7 ,the ,secretary of ,agriculture1   
with respect to any covered transaction 
related to the purchase of agricultural 
land or agricultural biotechnology or   
otherwise related to the agriculture    
industry in the ,united ,states4  2 and 
7#d7 by adding at the end the following3
  7r7 ,prohibitions relating to         
purchases of agricultural land and      
agricultural businesses  7#a7 ,in       
general ,if the ,committee1 in          
conducting a review under this section1 
determines that a transaction described 
in clause 7i71 7ii71 or 7iv7 of         
subsection 7a77#d77;,b7 would result in 
the purchase or lease by a covered      
foreign person of real estate described 
in paragraph 7#b7 or would result in    
control by a covered foreign person of a
 ,united ,states business engaged in    
agriculture1 the ,president shall       
prohibit the transaction unless a party 
to the transaction voluntarily chooses  
to abandon the transaction4  7#b7 ,real 
estate described ,subject to regulations

 prescribed by the ,committee1 real     
estate described in this paragraph is   
agricultural land 7as defined in section
 #i of the ,agricultural ,foreign       
,investment ,disclosure ,act of #aigh   
7#g ,u4,s4,c4 #cejh77 in the ,united    
,states that is in close proximity      
7subject to subsection 7a77#d77;,c77ii77
 to a ,united ,states military          
installation or another facility or     
property of the ,united ,states         
,government that is-- 7,a7 sensitive for
 reasons relating to national security  
for purposes of subsection              
7a77#d77;,b77ii77,,ii77bb72 and  7,b7   
identified in regulations prescribed by 
the ,committee4  7#c7 ,waiver ,the      
,president may waive1 on a case-by-case 
basis1 the requirement to prohibit a    
transaction under paragraph 7#a7 after  
the ,president determines and reports to
 the ,committee on ,banking1 ,housing1  
and ,urban ,affairs of the ,senate and  
the ,committee on ,financial ,services  
of the ,house of ,representatives that  

the waiver is in the national interest  
of the ,united ,states4  7#d7 ,covered  
foreign person defined  7,a7 ,in general
 ,in this subsection1 subject to        
regulations prescribed by the           
,committee1 the term covered foreign    
person-- 7i7 means any foreign person   
7including a foreign entity7 that acts  
as an agent1 representative1 or employee
 of1 or acts at the direction or control
 of1 the government of a covered        
country2 and  7ii7 does not include a   
,united ,states citizen or an alien     
lawfully admitted for permanent         
residence to the ,united ,states4  7,b7 
,covered country defined ,for purposes  
of subparagraph 7,a71 the term covered  
country means any of the following      
countries1 if the country is determined 
to be a foreign adversary pursuant to   
section #gia4d of title #ae1 ,code of   
,federal ,regulations 7or a successor   
regulation73 7i7 ,the ,people's         
,republic of ,china4  7ii7 ,the ,russian
 ,federation4  7iii7 ,the ,islamic      

,republic of ,iran4  7iv7 ,the          
,democratic ,people's ,republic of      
,korea4  4  7b7 ,spending plans ,not    
later than #fj days after the date of   
the enactment of this ,act1 each        
department or agency represented on the 
,committee on ,foreign ,investment in   
the ,united ,states shall submit to the 
chairperson of the ,committee a copy of 
the most recent spending plan required  
under section #agba7;b7 of the ,foreign 
,investment ,risk ,review ,modernization
 ,act of #bjah 7#ej ,u4,s4,c4 #defe     
note74  7c7 ,regulations  7#a7 ,in      
general ,the ,president shall direct1   
subject to section #eec of title #e1    
,united ,states ,code1 the issuance of  
regulations to carry out the amendments 
made by this section4  7#b7 ,effective  
date ,the regulations prescribed under  
paragraph 7#a7 shall take effect not    
later than one year after the date of   
the enactment of this ,act4  7d7        
,effective date2 applicability ,the     
amendments made by this section shall-- 

7#a7 take effect on the date that is #cj
 days after the effective date of the   
regulations under subsection 7c77#b72   
and  7#b7 apply with respect to a       
covered transaction 7as defined in      
section #gba of the ,defense ,production
 ,act of #aiej 7#ej ,u4,s4,c4 #defe77   
that is proposed1 pending1 or completed 
on or after the date described in       
paragraph 7#a74