PASS Act
Sponsored By: Senator Mike Rounds
Introduced
Summary
This bill would expand CFIUS oversight of agricultural land and agribusiness transactions and add a new prohibition pathway for deals tied to foreign adversaries. It would create a special review route for agricultural land and link certain transactions to national security checks near sensitive U.S. sites.
Show full summary
- Farmers and landowners would face new review rules for sales or leases of agricultural land that trigger a report under the Agricultural Foreign Investment Disclosure Act. CFIUS would get a 30-day window to decide whether to require a fuller notice, a declaration, or start a formal review after the Secretary of Agriculture flags a deal.
- Foreign investors identified as "covered foreign persons" would face sharper limits when buying or controlling U.S. agricultural real estate or agribusinesses near military or other government facilities. The President must block such transactions unless parties abandon them, though case-by-case waivers are possible and must be reported to congressional committees.
- Federal agencies on CFIUS must submit a spending plan within 60 days and the President would have 1 year to issue implementing regulations. The bill’s changes would take effect 30 days after those regulations become effective.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
New agriculture role on investment reviews
This bill would add the Agriculture Secretary to the foreign-investment review committee for cases about farm land, ag biotechnology, or other agriculture matters. It would make each agency on the committee send its most recent spending plan within 60 days after enactment. The bill would also require the President to issue the rules that implement these changes through normal notice-and-comment rulemaking, and those rules must take effect within one year.
Limits on foreign purchases of farm land
This bill would add new rules about foreign purchases of U.S. farm land. It would define which countries and foreign persons are "covered" and which farm parcels count as sensitive. If the Agriculture Secretary flags a reported farm-land deal, the foreign-investment committee would have 30 days to decide whether to seek a notice or start a full review. If the committee finds a security risk, the President would have to block sales or leases of certain farm land near military or other sensitive sites or block control of U.S. farm businesses by covered foreign persons, unless parties drop the deal. The President could waive a block in a specific case if he reports the waiver to two congressional committees and says it is in the national interest.
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Sponsors & CoSponsors
Sponsor
Mike Rounds
SD • R
Cosponsors
Sen. Cortez Masto, Catherine [D-NV]
NV • D
Sponsored 3/6/2025
Cynthia Lummis
WY • R
Sponsored 3/6/2025
Sen. Thune, John [R-SD]
SD • R
Sponsored 3/6/2025
John Hoeven
ND • R
Sponsored 3/6/2025
Kevin Cramer
ND • R
Sponsored 3/14/2025
Sen. Husted, Jon [R-OH]
OH • R
Sponsored 11/3/2025
Roll Call Votes
No roll call votes available for this bill.
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