To require the Secretary of Agriculture to enter into a memoranda of understanding with CFIUS with respect to reports under AFIDA and to update the AFIDA handbook.

This bill directs the Secretary of Agriculture to establish formal agreements with CFIUS to share information regarding foreign ownership of U.S. agricultural land. Under these new memoranda of understanding, the Department must provide CFIUS with details on submitted reports, including the identities of foreign investors and submission dates. Additionally, the bill requires the Secretary to update the relevant Farm Service Agency handbook within two years to incorporate recommendations from a recent Government Accountability Office report on national security risks. Future updates to this handbook are mandated every ten years to ensure continued alignment with oversight suggestions. These changes directly affect the administrative processes of the Department of Agriculture and its interaction with the Committee on Foreign Investment in the United States.