To amend the Defense Production Act of 1950 to include the Secretary of Agriculture on the Committee on Foreign Investment in the United States and require review of certain agricultural transactions.

SA 813. Mr. ROUNDS (for himself, Mr. Tester, Mr. Daines, Mr. Kennedy,
and Ms. Lummis) submitted an amendment intended to be proposed by him
to the bill S. 2226, to authorize appropriations for fiscal year 2024
for military activities of the Department of Defense, for military
construction, and for defense activities of the Department of Energy,
to prescribe military personnel strengths for such fiscal year, and for
other purposes; which was ordered to lie on the table; as follows:

At the end of subtitle G of title X, insert the following:

SEC. 1083. REVIEW OF AGRICULTURE-RELATED TRANSACTIONS BY
COMMITTEE ON FOREIGN INVESTMENT IN THE UNITED
STATES.

Section 721 of the Defense Production Act of 1950 (50
U.S.C. 4565) is amended--
(1) in subsection (a)--
(A) in paragraph (4)--
(i) in subparagraph (A)--

(I) in clause (i), by striking ``; and'' and inserting a
semicolon;
(II) in clause (ii), by striking the period at the end and
inserting ``; and''; and
(III) 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.'';
(ii) in subparagraph (B), by adding at the end the
following:
``(vi) Any other investment, subject to regulations
prescribed under subparagraphs (D) and (E), by a foreign
person in any unaffiliated United States business that is
engaged in agriculture or biotechnology related to
agriculture.
``(vii) Subject to subparagraphs (C) and (E), the purchase
or lease by, or a concession to, a foreign person of private
real estate that is--

``(I) located in the United States;
``(II) used in agriculture; and
``(III) more than 320 acres or valued in excess of
$5,000,000.'';

(iii) in subparagraph (C)(i), by striking ``subparagraph
(B)(ii)'' and inserting ``clause (ii) or (vii) of
subparagraph (B)'';
(iv) in subparagraph (D)--

(I) in clause (i), by striking ``subparagraph (B)(iii)''
and inserting ``clauses (iii) and (vi) of subparagraph (B)'';
(II) in clause (iii)(I), by striking ``subparagraph
(B)(iii)'' and inserting ``clauses (iii) and (vi) of
subparagraph (B)'';
(III) in clause (iv)(I), by striking ``subparagraph
(B)(iii)'' each place it appears and inserting ``clauses
(iii) and (vi) of subparagraph (B)''; and
(IV) in clause (v), by striking ``subparagraph (B)(iii)''
and inserting ``clauses (iii) and (vi) of subparagraph (B)'';
and

(v) in subparagraph (E), by striking ``clauses (ii) and
(iii)'' and inserting ``clauses (ii), (iii), (iv), and
(vii)''; and
(B) by adding at the end the following:
``(14) Agriculture.--The term `agriculture' has the meaning
given such term in section 3 of the Fair Labor Standards Act
of 1938 (29 U.S.C. 203).'';
(2) in subsection (k)(2)--
(A) by redesignating subparagraphs (H), (I), and (J), as
subparagraphs (I), (J), and (K), respectively; and
(B) inserting after subparagraph (G) the following new
subparagraph:

[[Page S3001]]

``(H) The Secretary of Agriculture (nonvoting, ex
officio).''; and
(3) by adding at the end the following:
``(r) Prohibition With Respect to Agricultural Companies
and Real Estate.--
``(1) In general.--Notwithstanding any other provision of
this section, if the Committee, in conducting a review and
investigation under this section, determines that a
transaction described in clause (i), (vi), or (vii) of
subsection (a)(4)(B) would result in control by a covered
foreign person of or investment by a covered foreign person
in a United States business engaged in agriculture or private
real estate used in agriculture, the President shall prohibit
such transaction.
``(2) Waiver.--The President may waive, on a case-by-case
basis, the requirement to prohibit a transaction under
paragraph (1), not less than 30 days after the President
determines and reports to the relevant committees of
jurisdiction that it is vital to the national security
interests of the United States to waive such prohibition.
``(3) Defined terms.--In this subsection:
``(A) Covered person.--
``(i) In general.--Except as provided by clause (ii), the
term `covered person'--

``(I) has the meaning given the term `a person owned by,
controlled by, or subject to the jurisdiction or direction of
a foreign adversary' in section 7.2 of title 15, Code of
Federal Regulations (as in effect on the date of the
enactment of the National Defense Authorization Act for
Fiscal Year 2024), except that each reference to `foreign
adversary' in that definition shall be deemed to be a
reference to the government of a covered country; and
``(II) includes an entity that--

``(aa) is registered in or organized under the laws of a
covered country;
``(bb) has a principal place of business in a covered
country; or
``(cc) has a subsidiary with a principal place of business
in a covered country.
``(ii) Exclusions.--The term `covered person' does not
include a United States citizen or an alien lawfully admitted
for permanent residence to the United States.
``(B) Covered country.--The term `covered country' means
any of the following:
``(i) The People's Republic of China.
``(ii) The Russian Federation.
``(iii) The Islamic Republic of Iran.
``(iv) The Democratic People's Republic of Korea.''.
______