S. 1012 — SOIL Act of 2025

This section expands the definition of covered real estate transactions subject to review by the Committee on Foreign Investment in the United States (CFIUS) to include any acquisition or transfer of an interest, other than a security, in U.S. agricultural land by a person who is a national of, or organized under the laws or otherwise subject to the jurisdiction of, a country that either (1) is designated as a nonmarket economy country under section 771(18) of the Tariff Act of 1930 or (2) is identified as posing a risk to U.S. national security in the most recent Annual Threat Assessment by the Director of National Intelligence. Such transactions proposed or pending on or after the date of enactment are subject to CFIUS review.

This section includes within covered real estate transactions subject to review by the Committee on Foreign Investment in the United States (CFIUS) any acquisition or transfer of an interest—other than a security—in real estate located not more than 50 miles from a military installation (as defined in 10 U.S.C. 2801(c)(4)), other than residential property held by a person who is a national of, or organized under the laws of or otherwise subject to the jurisdiction of, a country designated as a nonmarket economy country (19 U.S.C. 1677(18)) or identified as posing a risk to U.S. national security in the most recent Annual Threat Assessment issued by the Director of National Intelligence.

This section prohibits any Federal agency from providing assistance, including subsidies, to a person for an agricultural real estate holding wholly or partly owned by a national of, or entity organized under the laws of or subject to the jurisdiction of, a country that (1) is designated as a nonmarket economy country under section 771(18) of the Tariff Act of 1930 (19 U.S.C. 1677(18)), or (2) is identified as posing a risk to U.S. national security in the most recent annual worldwide threats report (i.e., Annual Threat Assessment) by the Director of National Intelligence (50 U.S.C. 3043b).

This section amends the Agricultural Foreign Investment Disclosure Act of 1978 (AFIDA) by (1) requiring foreign persons to report leases of agricultural land for periods longer than five years, in addition to acquisitions and transfers (previously limited to acquisitions and transfers), within 90 days; and (2) prohibiting the Secretary of Agriculture from excluding land from the definition of agricultural land based on acreage. (AFIDA requires such reports to disclose details including the foreign person's identity, land description, and intended agricultural use.)

This section revises reporting requirements under the Agricultural Foreign Investment Disclosure Act of 1978 (AFIDA)—which requires foreign persons to disclose acquisitions, transfers, or changes in interests in U.S. agricultural land to USDA—by (1) redesignating the existing semiannual transmittal of such individual reports to state departments of agriculture (for land in the state) as subsection (a), and (2) adding subsection (b) to require the Secretary to annually prepare and publicly release a report on foreign holdings of U.S. agricultural land. The annual report must include (A) an analysis of countries with the most extensive holdings on a state-by-state and county-by-county basis; (B) data and analysis of holdings in each U.S. county by persons from China, Russia, or other countries the Secretary deems appropriate; and (C) an analysis of sectors and industries for which the land is used. The Secretary must transmit the annual report to relevant state agencies along with semiannual transmittals under subsection (a).