House Passes Bills to Expand CFIUS, Sanction Pirates
The House approved bills late June 23 dealing with anti-piracy sanctions and foreign investment in U.S. farmland.
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By voice vote, the House passed the Agricultural Risk Review Act, which would make USDA a permanent member of the Committee on Foreign Investment in the U.S. for agricultural transactions (see 2503070005). The proposal also would require CFIUS to consider farmland transactions referred by USDA.
Rep. Frank Lucas, R-Okla., who introduced the CFIUS bill, said the measure is needed to address “an increasing amount of potentially hostile foreign investment in U.S. farmland," especially by China.
The Lucas legislation now heads to the Senate. A House aide familiar with the bill told Export Compliance Daily that "we’ve seen great interest in the Senate and expect movement in the next few weeks.”
By a 392-14 vote, the House passed a bill by Rep. Jonathan Jackson, D-Ill., that would sanction foreign individuals and entities engaged in piracy (see 2503120063 and 2504090052). The Sanction Sea Pirates Act is aimed at countering a recent surge in Somali pirate attacks.
Jackson's office plans to begin seeking Senate support for his bill now that the House has approved it, said James Gomez, senior legislative assistant to the lawmaker.