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PASS Act of 2022

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

Official summary

Version 00 · Introduced in Senate · Aug 6, 2022

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.

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Who introduced it

Sen. Rounds, Mike [R-SD] · R–SD

Committees

  • Banking, Housing, and Urban Affairs Committee
0 cosponsorship records, including any withdrawals

    Actions

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

    2. Introduced in Senate

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