ABSTRACT

Foreign Farmland Ownership in the United States [November 18, 2021]   [open pdf - 844KB]

From the Document: "Legislation introduced in the 117th Congress seeks to restrict foreign investment and ownership of U.S. agricultural land. In 2019, foreign persons and entities held an interest in 2.7% of U.S. privately owned agricultural land--covering crop, grazing, and forest land--according to the U.S. Department of Agriculture (USDA). Other related legislation seeks to limit the eligibility of foreign persons and entities for USDA farm program benefits. [...] Legislation before Congress seeks to increase oversight of foreign investment and ownership of U.S. agricultural land. Several bills would amend the Defense Production Act of 1950 [...] to include the Secretary of Agriculture as a member of the Committee on Foreign Investment in the United States (CFIUS). USDA is not currently a member of CFIUS. CFIUS is an interagency committee authorized to review certain transactions involving foreign investment in the United States and real estate transactions by foreign persons, in order to determine the effect of such transactions on U.S. national security. [...] [T]he House-passed FY2022 Agriculture appropriations bill would require USDA to take actions to 'prohibit the purchase' of agricultural land by 'companies owned, in full or in part, by China, Russia, Iran, or North Korea'[.] [...] Similar provisions were not taken up in the Senate."

Report Number:
CRS In Focus, IF11977
Author:
Publisher:
Date:
2021-11-18
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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