Toward ramping up federal oversight of American farmland purchases, U.S. Rep. Randy Feenstra (R-IA) on July 28 proposed a bipartisan bill that would require the review and public disclosure of certain farmland purchased or leased by foreign adversaries of the United States.
“For far too long, our government has not administered the laws on the books to protect American farmland from acquisition by our foreign adversaries,” Rep. Feenstra said on Monday. “If we fail to actively monitor foreign purchases of our farmland, we jeopardize our national, economic, energy, and food security.”
If enacted, the Foreign Agricultural Restrictions to Maintain Local Agriculture and National Defense (FARMLAND) Act of 2023, H.R. 5078, which Rep. Feenstra sponsored with original cosponsor U.S. Rep. Elissa Slotkin (D-MI), would amend the Agricultural Foreign Investment Disclosure Act of 1978 to strengthen oversight over foreign investment in the U.S. agricultural industry, according to the bill’s text.
“As a strong advocate for stopping our adversaries, like China, from buying our farmland, I am proud to introduce the FARMLAND Act, which will develop new oversight measures for foreign farmland purchases, require the Secretary of Agriculture to report the threats of foreign acquisition of American farmland to Congress, and punish foreign investors who fail to disclose farmland purchases,” said Rep. Feenstra.
Specifically, H.R. 5078 would authorize the Committee on Foreign Investment in the United States (CFIUS) to review all purchases or leases of American farmland by foreign entities that exceed $5 million or 320 acres, and require the secretaries of Agriculture and Homeland Security to publish an annual report outlining any threats or national security risks of foreign investment in American farmland, according to a bill summary provided by Rep. Feenstra’s staff.
The legislation also directs the Agriculture Secretary to develop a public database of all farmland owned by foreign governments and other entities, and limit foreign-owned or operated land from participating in Farm Service Agency programs, the summary says.
“With almost 50 percent of farmland expected to change hands in the next two decades, it is vital that we monitor and track any foreign entity buying large amounts of our farmland,” Rep. Feenstra said. “Born and raised in rural Iowa, I firmly believe that American farmland belongs to American farmers, and I will continue to lead the fight to protect our farmers and rural communities.”
Rep. Slotkin added that the U.S. cannot allow strategic competitors like China to gain control of American farmland. “This legislation will help ensure our agricultural land does not come under the control of the Chinese Communist Party or other bad actors who might seek to use that control against us,” she said.
H.R. 5078 is the companion bill to the same-named S. 2060, introduced on June 20 by bill sponsor U.S. Sen. Joni Ernst (R-IA) and original cosponsor U.S. Sen. Debbie Stabenow (D-MI).
The lawmakers hope to see the legislation become part of the 2023 Farm Bill.