S. 1012

119 S1012 IS: Security and Oversight for International Landholdings Act of 2025
 U.S. Senate
 2025-03-12
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 II  119th CONGRESS  1st Session  S. 1012  IN THE SENATE OF THE UNITED STATES   March 12, 2025   Mr. Lankford  (for himself,  Mr. Bennet ,  Mr. Risch , and  Mr. Tillis ) introduced the following bill; which was read twice and referred to the  Committee on Agriculture, Nutrition, and Forestry    A BILL
To increase oversight of foreign direct investment in agricultural land in the United States, and for other purposes.
1.
Short title
This Act may be cited as the   Security and Oversight for International Landholdings Act of 2025   or the   SOIL Act of 2025  .
2.
Review by Committee on Foreign Investment in the United States of certain agricultural real estate transactions
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 clause (vi) or (vii) of subparagraph (B) proposed or pending on or after the date of the enactment of this clause.
 ; and
(2)
in subparagraph (B), by adding at the end the following:
(vi)
Any acquisition or transfer of an interest, other than a security, in agricultural land held by a person that is a national of, or is organized under the laws or otherwise subject to the jurisdiction of, a country—
(I)
designated as a nonmarket economy country pursuant to section 771(18) of the Tariff Act of 1930 ( 19 U.S.C. 1677(18) ); or
(II)
identified as a country that poses as risk to the national security of the United States in the most recent annual report on worldwide threats issued by the Director of National Intelligence pursuant to section 108B of the National Security Act of 1947 ( 50 U.S.C. 3043b )(commonly known as the  Annual Threat Assessment ).
 .
3.
Review by Committee on Foreign Investment in the United States of real estate transactions near military installations
Section 721(a)(4)(B) of the Defense Production Act of 1950 ( 50 U.S.C. 4565(a)(4)(B) ), as amended by section 2, is amended by adding at the end the following:
(vii)
Any acquisition or transfer of an interest, other than a security, in any form of real estate that is located not more than 50 miles from a military installation (as that term is defined in section 2801(c)(4) of title 10, United States Code) other than residential property held by a person that is a national of, or is organized under the laws or otherwise subject to the jurisdiction of, a country—
(I)
designated as a nonmarket economy country pursuant to section 771(18) of the Tariff Act of 1930 ( 19 U.S.C. 1677(18) ); or
(II)
identified as a country that poses as risk to the national security of the United States in the most recent annual report on worldwide threats issued by the Director of National Intelligence pursuant to section 108B of the National Security Act of 1947 ( 50 U.S.C. 3043b )(commonly known as the  Annual Threat Assessment ).
 .
4.
Prohibition on use of funds for certain agricultural real estate holdings
No assistance, including subsidies, may be provided by any Federal agency to a person for an agricultural real estate holding wholly or partly owned by a person that is a national of, or is organized under the laws or otherwise subject to the jurisdiction of, a country—
(1)
designated as a nonmarket economy country pursuant to section 771(18) of the Tariff Act of 1930 ( 19 U.S.C. 1677(18) ); or
(2)
identified as a country that poses as risk to the national security of the United States in the most recent annual report on worldwide threats issued by the Director of National Intelligence pursuant to section 108B of the National Security Act of 1947 ( 50 U.S.C. 3043b )(commonly known as the  Annual Threat Assessment ).
5.
Disclosure requirements for foreign agricultural real estate holdings
(a)
Reporting requirements
Section 2(a) of the Agricultural Foreign Investment Disclosure Act of 1978 ( 7 U.S.C. 3501(a) ) is amended—
(1)
in the first sentence of the matter preceding paragraph (1)—
(A)
by inserting  , or enters into a leasing agreement the period of which is longer than 5 years with respect to agricultural land,  after  agricultural land ; and
(B)
by striking  acquisition or transfer  and inserting  acquisition, transfer, or lease ; and
(2)
in paragraph (4), by striking  acquired or transferred  and inserting  acquired, transferred, or leased .
(b)
Revocation of minimum acreage requirement
Section 9(1) of the Agricultural Foreign Investment Disclosure Act of 1978 ( 7 U.S.C. 3508(1) ) is amended by inserting  , subject to the condition that the Secretary may not exclude land from this definition based on the acreage of the land  before the semicolon at the end.
6.
Reports of holdings of agricultural land in the United States by foreign persons
Section 6 of the Agricultural Foreign Investment Disclosure Act of 1978 ( 7 U.S.C. 3505 ) is amended—
(1)
by striking the section designation and heading and all that follows through  Not later than  and inserting the following:
6.
Reports
(a)
Transmission of reports to States
Not later than
 ; and
(2)
by adding at the end the following:
(b)
Annual report
(1)
In general
Annually, the Secretary shall prepare and make publicly available a report describing holdings of agricultural land by foreign persons, as determined by reports submitted under section 2, including—
(A)
an analysis of the countries with the most extensive agricultural land holdings on a State-by-State and county-by-county basis;
(B)
data and an analysis of agricultural land holdings in each county in the United States by a foreign person from—
(i)
the People’s Republic of China;
(ii)
the Russian Federation; or
(iii)
any other country that the Secretary determines to be appropriate; and
(C)
an analysis of the sectors and industries for which the agricultural land holdings are used.
(2)
Transmission to States
The Secretary shall transmit the report prepared under paragraph (1) to each State department of agriculture or appropriate State agency described in subsection (a) in conjunction with the applicable reports transmitted under that subsection.
 .