S. 179 — FARM Act

This section expands the Committee on Foreign Investment in the United States's (CFIUS's) jurisdiction to review foreign investments in U.S. agriculture for national security risks. (As background, CFIUS reviews covered transactions by foreign persons, such as mergers or acquisitions that could result in control of a U.S. business, including those involving critical infrastructure or technologies.) Specifically, it (1) adds the Secretary of Agriculture as a CFIUS member; (2) designates as a covered transaction, if proposed, pending, or completed on or after enactment, any transaction that could result in foreign control of a U.S. business engaged in agriculture and using agricultural products (as defined in 7 U.S.C. 451); (3) includes agricultural systems and supply chains as critical infrastructure, subject to CFIUS regulations; and (4) designates agricultural supply chains used for such products as critical technologies.

This section directs the Secretary of Agriculture and the Comptroller General of the United States to each conduct an analysis of foreign influence in the U.S. agriculture industry and submit a report to Congress not later than one year after enactment of this Act. The report must summarize (1) foreign investments in the U.S. agriculture industry, (2) the potential for such investments to undermine U.S. agricultural production and supply chains, (3) the largest international threats for increased foreign control of and investment in the U.S. agriculture sector, and (4) agriculture-related espionage and theft techniques used by foreign governments, including attempts to target U.S. agricultural intellectual property, innovation, research and development, cost or pricing data, or internal strategy documents.