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S 4786 117th Congress Senate Agriculture and Food Agricultural trade Asia China Congressional oversight Europe Federal officials Foreign and international corporations Iran Middle East North Korea Russia U.S. and foreign investments

PASS Act of 2022

Introduced: August 6, 2022 Introduced by: Rounds, Mike Republican · South Dakota See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 6, 2022
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Aug 6, 2022
Introduced in Senate
 Plain-English summary Congressional Research Service

Promoting Agriculture Safeguards and Security Act of 2022 or the PASS Act of 2022

This bill establishes requirements to address the national security risk to the agricultural sector of the United States.

Specifically, the bill prohibits persons who are acting on behalf of China, Russia, Iran, or North Korea from purchasing or investing in U.S. agricultural land and companies. The President may waive this prohibition, on a case-by-case basis, if the President determines that the waiver is vital to U.S. national security interests.

The bill also places the Secretary of Agriculture on the Committee on Foreign Investment in the United States (CFIUS) and requires CFIUS to review certain transactions involving investments by foreign persons in the U.S. agricultural sector.

Additionally, the Department of Agriculture must report on the risks that foreign purchases of U.S. businesses engaged in agriculture pose to the agricultural sector of the United States.

What's happening now August 6, 2022

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 1