East Idaho Times

U.S. Senators Jim Risch, James Lankford, Thom Tillis, and Michael Bennet have introduced the Security and Oversight of International Landholdings (SOIL) Act. This legislation aims to increase oversight and transparency regarding foreign acquisitions of American agricultural land that could pose a threat to national security.

Senator Risch expressed concerns about foreign ownership of U.S. farmland, stating, "America has some of the best farmland in the world, and it would be a grave mistake to allow Communist China to take ownership of this valuable resource." He emphasized that the SOIL Act is designed to prevent countries like China and Russia from purchasing agricultural land near U.S. military installations.

Senator Lankford also voiced his apprehensions about China's activities in the United States: "China continues to buy up American farm land, steal our patents, and expand their authoritarian worldview." He stressed America's commitment to maintaining its economic and military strength as a demonstration of its values.

The SOIL Act proposes several measures to deter foreign investment in U.S. agriculture:

- It requires the Committee on Foreign Investment in the United States (CFIUS) to review agricultural real estate purchases by certain foreign entities.

- It bans federal assistance for specific foreign-held real estate holdings.

- It broadens disclosure requirements for land purchases made by foreign entities.