[Congressional Record Volume 169, Number 123 (Tuesday, July 18, 2023)]
[Senate]
[Pages S3000-S3001]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  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.''.
                                 ______