[Congressional Record Volume 170, Number 115 (Thursday, July 11, 2024)]
[Senate]
[Pages S5066-S5067]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2841. Mr. LANKFORD (for himself, Mr. Bennet, and Mr. Tillis) 
submitted an amendment intended to be

[[Page S5067]]

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 appropriate place, insert the following:

     SEC. ___. SOIL ACT OF 2024.

       (a) Short Title.--This section may be cited as the 
     ``Security and Oversight for International Landholdings Act 
     of 2024'' or the ``SOIL Act of 2024''.
       (b) Review by Committee on Foreign Investment in the United 
     States of Certain Agricultural Real Estate Transactions.--
     Section 721(a)(4) of the Defense Production Act of 1950 (50 
     U.S.C. 4565(a)(4)) is amended--
       (1) in subparagraph (A)--
       (A) in clause (i), by striking ``; and'' and inserting a 
     semicolon;
       (B) in clause (ii), by striking the period at the end and 
     inserting ``; and''; and
       (C) 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.''; and
       (2) in subparagraph (B), by adding at the end the 
     following:
       ``(vi) Any acquisition or transfer of an interest, other 
     than a security, in agricultural land held by a person that 
     is a national of, or is organized under the laws or otherwise 
     subject to the jurisdiction of, a country--

       ``(I) designated as a nonmarket economy country pursuant to 
     section 771(18) of the Tariff Act of 1930 (19 U.S.C. 
     1677(18)); or
       ``(II) identified as a country that poses as risk to the 
     national security of the United States in the most recent 
     annual report on worldwide threats issued by the Director of 
     National Intelligence pursuant to section 108B of the 
     National Security Act of 1947 (50 U.S.C. 3043b)(commonly 
     known as the `Annual Threat Assessment').''.

       (c) Review by Committee on Foreign Investment in the United 
     States of Real Estate Transactions Near Military 
     Installations.--Section 721(a)(4)(B) of the Defense 
     Production Act of 1950 (50 U.S.C. 4565(a)(4)(B)), as amended 
     by section 2, is amended by adding at the end the following:
       ``(vii) Any acquisition or transfer of an interest, other 
     than a security, in any form of real estate that is located 
     not more than 50 miles from a site listed in Appendix A to 
     part 802 of title 31, Code of Federal Regulations or other 
     military installation (as that term is defined in section 
     802.227 of title 31, Code of Federal Regulations) other than 
     residential property held by a person that is a national of, 
     or is organized under the laws or otherwise subject to the 
     jurisdiction of, a country--

       ``(I) designated as a nonmarket economy country pursuant to 
     section 771(18) of the Tariff Act of 1930 (19 U.S.C. 
     1677(18)); or
       ``(II) identified as a country that poses as risk to the 
     national security of the United States in the most recent 
     annual report on worldwide threats issued by the Director of 
     National Intelligence pursuant to section 108B of the 
     National Security Act of 1947 (50 U.S.C. 3043b)(commonly 
     known as the `Annual Threat Assessment').''.

       (d) Prohibition on Use of Funds for Certain Agricultural 
     Real Estate Holdings.--No assistance, including subsidies, 
     may be provided by any Federal agency to a person for an 
     agricultural real estate holding wholly or partly owned by a 
     person that is a national of, or is organized under the laws 
     or otherwise subject to the jurisdiction of, a country--
       (1) designated as a nonmarket economy country pursuant to 
     section 771(18) of the Tariff Act of 1930 (19 U.S.C. 
     1677(18)); or
       (2) identified as a country that poses as risk to the 
     national security of the United States in the most recent 
     annual report on worldwide threats issued by the Director of 
     National Intelligence pursuant to section 108B of the 
     National Security Act of 1947 (50 U.S.C. 3043b)(commonly 
     known as the ``Annual Threat Assessment'').
                                 ______