As ordered reported by the House Committee on Financial Services on March 5, 2025
H.R. 1713, Agricultural Risk Review Act of 2025As ordered reported by the House Committee on Financial Services on March 5, 2025
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|---|---|---|---|---|---|---|---|---|---|---|---|
By Fiscal Year, Millions of Dollars | 2025 | 2025-2030 | 2025-2035 | ||||||||
Direct Spending (Outlays) | 0 | 0 | 0 | ||||||||
Revenues | 0 | 0 | 0 | ||||||||
Increase or Decrease (-) in the Deficit | 0 | 0 | 0 | ||||||||
Spending Subject to Appropriation (Outlays) | * | 10 | not estimated | ||||||||
Increases net direct spending in any of the four consecutive 10-year periods beginning in 2036?
| No
| Statutory pay-as-you-go procedures apply?
| No
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Mandate Effects
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Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2036?
| No
| Contains intergovernmental mandate?
| Excluded from UMRA
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Contains private-sector mandate?
| Excluded from UMRA
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* = between zero and $500,000.
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On This Page
H.R. 1713 would require the Department of Agriculture (USDA) to notify the Committee on Foreign Investment in the United States (CFIUS) of any agricultural land purchased by a foreign investor that may raise national security concerns. CFIUS, an interagency committee, reviews potential national security threats of foreign investment in the United States. The committee would determine whether the transactions qualify as covered transactions under its authority and take appropriate action based on that determination. The bill also would add USDA to CFIUS.
Under current law, foreign investors are required to disclose to USDA their acquisition or disposal of agricultural land. Although USDA does not currently assess land transactions for national security risks, it does provide agencies in the intelligence community with information on land purchased by investors from certain countries. Using information from USDA and CFIUS about staffing requirements for similar notification and review activities, CBO estimates that implementing H.R. 1713 would cost $10 million over the 2025-2030 period. Any related spending would be subject to the availability of appropriated funds.
USDA currently participates in CFIUS investigations related to agricultural investment upon request. Therefore, CBO estimates that the costs to add USDA to the committee would not be significant over the 2025-2030 period.
CBO has not reviewed H.R. 1713 for intergovernmental or private-sector mandates. Section 4 of the Unfunded Mandates Reform Act excludes from the application of that act any legislative provisions that are necessary for national security. CBO has determined that the provisions of the Defense Production Act of 1950, as amended by the bill, would fall under that exclusion.
The CBO staff contacts for this estimate are Caroline Dorminey and Matthew Pickford (for federal costs) and Brandon Lever (for mandates). The estimate was reviewed by H. Samuel Papenfuss, Deputy Director of Budget Analysis.
Phillip L. Swagel
Director, Congressional Budget Office