[Congressional Record Volume 170, Number 115 (Thursday, July 11, 2024)]
[Senate]
[Pages S4742-S4743]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2418. Mr. BRAUN submitted an amendment intended to be proposed by 
him to the bill S. 4638, to authorize appropriations for fiscal year 
2025 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 H of title X, add the following:

     SEC. 1095. AGRICULTURAL FOREIGN INVESTMENT DISCLOSURES.

       (a) Reporting; Enforcement.--

[[Page S4743]]

       (1) Reporting requirement.--Section 2 of the Agricultural 
     Foreign Investment Disclosure Act of 1978 (7 U.S.C. 3501) is 
     amended by adding at the end the following:
       ``(g) Minimum Ownership.--In the case of agricultural land 
     in which more than 1 foreign person acquires or transfers any 
     interest, other than a security interest, the reporting 
     requirements under this section shall apply to each foreign 
     person that holds at least a 1-percent interest in that 
     land--
       ``(1) directly through the first tier of ownership; or
       ``(2) in the aggregate through an interest in other 
     entities at various tiers.''.
       (2) Enforcement.--Section 4 of the Agricultural Foreign 
     Investment Disclosure Act of 1978 (7 U.S.C. 3503) is 
     amended--
       (A) by striking the section designation and all that 
     follows through ``The Secretary'' and inserting the 
     following:

     ``SEC. 4. INVESTIGATIVE ACTIONS.

       ``(a) In General.--The Secretary''; and
       (B) by adding at the end the following:
       ``(b) Actions by FPAC-BC.--As part of the actions taken 
     under subsection (a), the Farm Production and Conservation 
     Business Center shall--
       ``(1) take such actions as are necessary to validate the 
     data collected under section 2, including revising and 
     validating information throughout the data collection 
     process;
       ``(2) take such actions as are necessary to ensure 
     compliance with section 2(g); and
       ``(3) in coordination with the Farm Service Agency, to the 
     maximum extent practicable, identify persons that have 
     carried out an activity subject to a civil penalty described 
     in paragraph (1) or (2) of section 3(a).''.
       (b) Disclosure Improvements.--
       (1) Memoranda of understanding.--Not later than 1 year 
     after the date of enactment of this Act, the Secretary of 
     Agriculture (referred to in this subsection as the 
     ``Secretary'') shall enter into 1 or more memoranda of 
     understanding with the Committee on Foreign Investment in the 
     United States under which the Secretary shall provide to the 
     Committee all relevant information relating to reports on 
     foreign ownership of United States agricultural land 
     submitted to the Secretary under section 2 of the 
     Agricultural Foreign Investment Disclosure Act of 1978 (7 
     U.S.C. 3501), including information relating to--
       (A) each report submitted to the Secretary; and
       (B) with respect to each such report--
       (i) the identity of the person submitting the report; and
       (ii) the date of submission.
       (2) Handbook updates.--
       (A) First update.--
       (i) In general.--Not later than 1 year after the date of 
     enactment of this Act, the Secretary shall update the most 
     recent version of the Farm Service Agency handbook entitled 
     ``Foreign Investment Disclosure'' as the Secretary determines 
     to be necessary for the effective implementation of the 
     Agricultural Foreign Investment Disclosure Act of 1978 (7 
     U.S.C. 3501 et seq.).
       (ii) Requirement.--The update under clause (i) shall 
     incorporate recommendations included in the report of the 
     Government Accountability Office entitled ``Foreign 
     Investments in U.S. Agricultural Land: Enhancing Efforts to 
     Collect, Track, and Share Key Information Could Better 
     Identify National Security Risks'' and dated January 18, 
     2024.
       (B) Subsequent updates.--After updating the handbook 
     described in subparagraph (A)(i) under that subparagraph, the 
     Secretary shall update the handbook not less frequently than 
     once every 10 years thereafter, including by incorporating 
     any relevant recommendations of the Government Accountability 
     Office.
       (3) Analysis of streamlined process for electronic 
     submission and retention of reports.--
       (A) Definition of covered process.--In this paragraph, the 
     term ``covered process'' means the streamlined process for 
     electronic submission and retention of disclosures under the 
     Agricultural Foreign Investment Disclosure Act of 1978 (7 
     U.S.C. 3501 et seq.) required under section 773 of division A 
     of the Consolidated Appropriations Act, 2023 (7 U.S.C. 3501 
     note; 136 Stat. 4509).
       (B) Analysis.--If the covered process is not established by 
     the date that is 1 year after the date of enactment of this 
     Act, the Farm Production and Conservation Business Center, in 
     coordination with the Farm Service Agency, shall, by that 
     date--
       (i) carry out an analysis of the specific steps required to 
     establish the covered process and the elements of the covered 
     process; and
       (ii) develop a timeline for specific implementation 
     benchmarks to be met.
       (C) Report.--The Secretary shall submit to the Committee on 
     Agriculture, Nutrition, and Forestry of the Senate and the 
     Committee on Agriculture of the House of Representatives a 
     report describing the analysis and implementation timeline 
     under subparagraph (B), if applicable.
                                 ______