To require the Secretary of Agriculture to enter into a memoranda of understanding with CFIUS with respect to reports under AFIDA and to update the AFIDA handbook.
- Sponsor
- Rep. Bacon, Don [R-NE-2]
- Committees
- Agriculture Committee (primary)
- Last action
- May 11, 2026
Bottom line
The bill aims to enhance national security oversight and transparency regarding foreign ownership of U.S. agricultural land by improving data sharing with CFIUS and ensuring the AFIDA reporting guidelines are current and effective.
What it actually does
This bill mandates two key actions for the Secretary of Agriculture: first, to establish a memorandum of understanding (MOU) with the Committee on Foreign Investment in the United States (CFIUS) within one year to share data on foreign ownership of U.S. agricultural land collected under the Agricultural Foreign Investment Disclosure Act of 1978 (AFIDA). Second, it requires the Secretary to update the AFIDA handbook within two years, incorporating recommendations from a January 2024 Government Accountability Office (GAO) report, and to conduct subsequent updates every 10 years.
Proponents argue
Proponents argue that this bill is a critical step to safeguard national security by providing CFIUS with essential information to assess potential risks associated with foreign investments in strategically important agricultural land. They contend that improved data sharing and updated guidance will close existing loopholes and ensure better enforcement of foreign investment disclosure laws, directly addressing concerns raised by the GAO.
Opponents contend
Opponents might argue that while the intent is valid, the bill could create additional bureaucratic burdens for the Department of Agriculture and potentially for foreign investors without a clear demonstration that existing mechanisms are insufficient or that the proposed changes will yield significant new national security insights. Some may also raise concerns about the scope of data sharing or potential impacts on legitimate foreign investment.
The bill is very short and straightforward, allowing for quick comprehension and evaluation.
Section 1(a)
Mandate for Data Sharing MOU with CFIUS
This provision requires the Secretary of Agriculture to enter into one or more memoranda of understanding (MOUs) with the Committee on Foreign Investment in the United States (CFIUS) within one year of the bill's enactment. The purpose of these MOUs is to ensure that the Secretary provides CFIUS with all relevant information from reports on foreign ownership of United States agricultural land, including the identities of foreign persons and the dates of report submissions.
Supporters argue
Supporters argue that this provision is crucial for national security, as it directly addresses a gap in information sharing that could allow potentially hostile foreign investments in critical U.S. agricultural infrastructure to go unexamined by CFIUS. By formalizing data sharing, it ensures that CFIUS has the necessary intelligence to identify and mitigate risks.
Critics contend
Critics might contend that while data sharing is important, the specific details of the MOU could lead to unnecessary bureaucratic hurdles or an overreach of CFIUS's mandate without clear evidence of widespread, unaddressed national security threats from agricultural land ownership. Some may also argue that existing informal channels are sufficient.
Tradeoffs
This provision balances the imperative of national security oversight with the administrative burden on federal agencies and potential concerns about the scope of government surveillance over foreign investments.
Section 1(b)
Regular Updates to AFIDA Handbook
This section mandates that the Secretary of Agriculture update the Farm Service Agency's 'Foreign Investment Disclosure' handbook. The first update must occur within two years of enactment and incorporate recommendations from a January 18, 2024, Government Accountability Office (GAO) report. Subsequent updates are required every 10 years thereafter, also incorporating any new GAO recommendations.