SOIL Act of 2025
SOIL Act of 2025
Plain Language Summary
# SOIL Act of 2025 Summary **What It Would Do** The SOIL Act would require stricter oversight of foreign purchases of American agricultural land and other property near sensitive military sites. It expands the powers of CFIUS (the Committee on Foreign Investment in the United States)—a government body that already reviews certain foreign investments for national security concerns—to scrutinize more agricultural land deals, particularly those involving countries with nonmarket economies (like China) or countries deemed security risks. The bill would also require CFIUS review of any real estate transactions within 50 miles of military installations. **Who It Affects** The bill would primarily affect foreign investors and companies from certain countries who want to buy U.S. farmland or property near military bases.
It could also impact American agricultural landowners, as foreign buyers might face additional delays and scrutiny when purchasing land. Domestic buyers and investments would not be affected. **Current Status** The bill was introduced by Senator James Lankford (R-OK) in the 119th Congress and is currently in committee, meaning it hasn't yet been debated or voted on by the full Senate. The bill text appears incomplete in the provided information.
CRS Official Summary
Security and Oversight for International Landholdings Act of 2025 or the SOIL Act of 2025This bill establishes and expands requirements for reviewing and disclosing transactions regarding foreign investments in agricultural land.The Committee on Foreign Investment in the United States (CFIUS) must review certain investments in agricultural land held by a person (i.e., individual or entity) that is a national of, or subject to the jurisdiction of, a country (1) designated as a nonmarket economy, or (2) identified as posing a risk to the national security of the United States. Under current law, CFIUS reviews the national security implications of certain foreign investments in U.S. businesses or real estate, including critical infrastructure or technologies.CFIUS must also review certain real estate acquisitions or transfers of an interest, other than a security, for nonresidential properties that are located within 50 miles of a military installation.The bill also prohibits federal assistance, including subsidies, from being provided to a person for an agricultural real estate holding which is owned by any of the foreign persons specified above.The bill requires any foreign person who enters into a leasing agreement for agricultural land that is longer than five years to report the lease to the Department of Agriculture (USDA). Current requirements only apply to agriculture land acquired or transferred.Further, USDA must prepare and make publicly available an annual report describing agricultural land holdings by foreign persons, including specific information related to foreign persons from China and Russia.
Latest Action
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.