S. 2060 — FARMLAND Act of 2023

This bill expands federal authority and oversight over foreign investments in the U.S. agricultural industry. The bill expands the authority of the Committee on Foreign Investment in the United States (CFIUS) to include the review of land transactions (involving foreign entities) that exceed $5 million or 320 acres of land over the preceding three years. This applies to land that is primarily used for agriculture, the extraction of energy sources, or the extraction of critical precursor materials for biological technology industries, information technology components, or national defense technologies. Further, the bill adds the Secretary of Agriculture and the Commissioner of Food and Drugs...