HR620-119

1. Short title This Act may be cited as the Foreign Adversary Risk Management Act or the FARM Act.

2. United States agriculture included in Committee on Foreign Investment in the United States Section 721(k)(2) of the Defense Production Act of 1950 (50 U.S.C. 4565(k)(2)) is amended— by redesignating subparagraphs (H), (I), and (J) as subparagraphs (I), (J), and (K), respectively; and by inserting after subparagraph (G) the following: The Secretary of Agriculture. Section 721(a)(4) of the Defense Production Act of 1950 (50 U.S.C. 4565(a)(4)) is amended— in subparagraph (A)— in clause (i), by striking ; and and inserting a semicolon; in clause (ii), by striking the period at the end and inserting ; and; and by adding at the end the following: 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. in subparagraph (B), by adding at the end the following: 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)). Section 721(a)(5) of the Defense Production Act of 1950 (50 U.S.C. 4565(a)(5)) is amended— by striking critical infrastructure means and inserting the following: critical infrastructure— means by striking the period at the end and inserting ; and; and by adding at the end the following: includes, subject to regulations prescribed by the Committee, agricultural systems and supply chains. 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: 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)). (H)The Secretary of Agriculture.. (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 (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)).. critical infrastructure— (i)means; (ii)includes, subject to regulations prescribed by the Committee, agricultural systems and supply chains.. (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))..

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— conduct an analysis of foreign influence in the United States agriculture industry; and submit to Congress a report that includes a summary of— foreign investments in the United States agriculture industry; the potential for foreign investment to undermine United States agriculture production and agricultural supply chains; the largest international threats for increased foreign control of, and investment in, the United States agriculture sector; and 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.