Home Blog Page 393

Urban Wealth Funds: A New Approach to City Financing

0

Urban Wealth Funds: A New Approach to City Financing

Definition of Urban Wealth Funds

BY JOE WALLACE 

SEPTEMBER 15, 2024

Urban Wealth Funds (UWFs) are city-owned investment vehicles designed to manage and maximize the value of municipal assets, such as real estate, infrastructure, and public services. These funds aim to generate revenue that can be reinvested into the city to support economic growth, infrastructure development, and public services, thereby reducing the need for debt financing or reliance on tax revenues. By strategically managing underutilized or surplus assets, cities can leverage their wealth in ways that align with long-term urban planning goals.

Examples of Cities with Urban Wealth Funds

Several cities around the world have established Urban Wealth Funds, each with varying degrees of success:

  1. Copenhagen, Denmark

    • Success Story: Copenhagen is often cited as a leading example of UWF success. In the 1990s, the city established the Copenhagen City & Port Development Corporation to manage its extensive waterfront properties. The fund transformed the previously industrial waterfront into vibrant mixed-use districts, generating significant revenue through property sales and leases. Profits were reinvested into the city’s infrastructure, including the development of the city’s metro system. This self-financing model allowed Copenhagen to upgrade its urban infrastructure without burdening taxpayers.
  2. Hong Kong, China

    • Success Story: The Hong Kong Mass Transit Railway Corporation (MTR) operates as a UWF by using land and real estate to fund public transportation. MTR generates revenue not just from ticket sales but also through property development above and around transit stations. This model has proven highly successful, making the MTR one of the few profitable public transit systems in the world while contributing to the city’s real estate market and urban development.
  3. Stockholm, Sweden

    • Mixed Outcomes: Stockholm has utilized an Urban Wealth Fund to manage its publicly owned properties, which include significant land holdings and real estate assets. While the fund has been instrumental in managing the city’s resources efficiently, critics argue that the aggressive privatization of public land has driven up housing costs, limiting access to affordable housing for residents. This highlights the challenge of balancing public good with profit motives.
  4. Hamburg, Germany

    • Success Story: Hamburg’s HafenCity project is another prominent example of a UWF in action. The city established HafenCity Hamburg GmbH, a fund responsible for redeveloping the old harbor area. The project is largely self-financing, with revenue generated from land sales being reinvested into infrastructure, public spaces, and housing projects. HafenCity has transformed the city’s landscape, enhancing its appeal as a residential and business hub.
  5. Chicago, USA

    • Failure Example: Chicago’s experience with its UWF stands as a cautionary tale. In the early 2000s, the city attempted to leverage its assets, such as parking meters, through long-term leases to private entities. While this brought in immediate cash flow, the long-term consequences were problematic. The city lost significant future revenue streams and control over pricing, leading to higher costs for residents and widespread public discontent. Chicago’s example underscores the importance of strategic planning and the potential pitfalls of privatization without careful oversight.

Successes and Failures of Urban Wealth Funds

The successes of Urban Wealth Funds largely depend on transparent governance, strategic asset management, and alignment with public interest. In cities like Copenhagen and Hamburg, UWFs have enabled urban transformation and development without significant public debt, showcasing the potential of these funds when managed well. The ability to turn underutilized land into vibrant communities with sustainable financing is a powerful tool for urban planners.

However, the failures, such as those seen in Chicago, illustrate the risks involved. Poorly structured deals, lack of public oversight, and prioritizing short-term gains over long-term value can undermine the potential benefits. Cities must carefully balance the drive for profitability with the need to maintain public access and affordability.

Conclusion

Urban Wealth Funds represent a promising approach to city financing and urban development. By leveraging municipal assets in strategic ways, these funds can provide cities with a sustainable revenue source, reducing dependence on taxes and borrowing. However, the success of a UWF hinges on robust management, clear public benefit objectives, and safeguards against mismanagement. Cities considering this approach must learn from both the successes and failures of others to navigate the complexities of turning public wealth into lasting urban prosperity.

 

4o

What is the TEMPORARY PROTECTED STATUS (TPS)?

0

What is the TEMPORARY PROTECTED STATUS (TPS)?

COMPLIED BY CCO STAFF

SEPTEMBER 5, 2024

  • TPS is a temporary immigration status granted to eligible nationals of a foreign state designated for TPS under the INA, or to eligible individuals without nationality who last habitually resided in the designated foreign state, regardless of their country of birth.
  • During the TPS designation period, TPS beneficiaries are eligible to remain in the United States, may not be removed, and are authorized to obtain EADs if they continue to meet the requirements of TPS.

  • TPS beneficiaries may also apply for and be granted travel authorization as a matter of DHS discretion.
  • To qualify for TPS, beneficiaries must meet the eligibility standards at INA section 244(c)(1)-(2),8 U.S.C. 1254a(c)(1)-(2).
  • When the Secretary terminates a foreign state’s TPS designation, beneficiaries return to one of the following:

○ The same immigration status or category that they maintained before TPS, if any (unless that status or category has since expired or terminated); or

○ Any other lawfully obtained immigration status or category they received while registered for TPS, if it is still valid beyond the date their TPS terminates.

Processes for Cubans, Haitians, Nicaraguans, and Venezuelans

immediate family members may request to come to the United States in a safe and orderly way. Qualified beneficiaries who are outside the United States and lack U.S. entry documents may be considered, on a case-by-case basis, for advanced authorization to travel and a temporary period of parole for up to two years for urgent humanitarian reasons or significant public benefit. To participate, eligible beneficiaries must:

Have a supporter in the United States;

Undergo and clear robust security vetting;

Meet other eligibility criteria; and

Warrant a favorable exercise of discretion.

Individuals participating in these processes must have a supporter in the United States who agrees to provide them with financial support for the duration of their parole in the United States. The first step in the process is for the U.S.-based supporter to file a Form I-134A, Online Request to be a Supporter and Declaration of Financial Support, with USCIS for each beneficiary they seek to support, including minor children. The U.S. government will then review the supporter information provided in Form I-134A to ensure that they can financially support the beneficiaries they are agreeing to support.

See below for additional information on the processes and country-specific eligibility requirements. Additional information is also available on our Frequently Asked Questions About the Processes for Cubans, Haitians, Nicaraguans, and Venezuelans page.

Temporary Protected Status

The Department of Homeland Security has extended through Aug. 3, 2025, the validity of certain Employment Authorization Documents (EADs) issued to Temporary Protected Status (TPS) beneficiaries under the designation of Haiti.

If you are currently a TPS beneficiary under the Haiti designation and you have not yet re-registered for TPS under the most recent extension, you must submit  Form I-821, Application for Temporary Protected Status, by Aug. 30, 2024, to keep your TPS benefits.

Working in the United States

Many noncitizens want to come to the United States to work. This page provides a summary of employment-based nonimmigrant and immigrant visa classifications and other categories of noncitizens who are eligible for employment authorization. Each classification provides a link to more detailed information on its requirements.

A common way to work temporarily in the United States as a nonimmigrant is for a prospective employer to file a petition with USCIS on your behalf. The Temporary (Nonimmigrant) Workers webpage describes the main nonimmigrant temporary worker classifications.

If you have the right combination of skills, education, and/or work experience, you may be able to live and work permanently in the United States by seeking an employment-based immigrant visa. The Permanent Workers webpage describes the five employment-based immigrant visa preferences (also called categories).

If you live outside the United States and want to work here, you generally must apply for a visa from the U.S. Department of State (DOS), unless a visa is not required for people from your country of nationality. You may visit DOS’ Travel Without a Visa page for more information.

In many cases, USCIS must approve your petition before you are eligible to apply to DOS for a visa or seek admission at a port of entry. Before entering the United States, you must present yourself to a U.S. Customs and Border Protection (CBP) officer and receive permission to enter the United States and engage in your proposed activity.

If you are in the United States in a lawful nonimmigrant status that does not provide employment authorization, you generally may apply for:

  • A change of status to a nonimmigrant classification that provides employment authorization; or
  • An adjustment of status to become a lawful permanent resident. This may be a concurrent filing with an immigrant visa petition or, depending on the circumstances may require an applicant to obtain an approved immigrant visa before applying for an adjustment of status to become a lawful permanent resident.

Depending on the classification you seek, your change or adjustment of status application might require a U.S. employer or other qualified requestor to file an application or petition on your behalf to establish your eligibility before we approve your application. However, if you apply based on certain classifications (for example, an alien with extraordinary ability or as a nonimmigrant E-1 or E-2 principal treaty trader or investor), you may be eligible to self-petition, which means applying on your own behalf.

Additionally, if you are in the United States, including if you are an applicant for permanent residence or a certain family member of an alien who has lawful nonimmigrant status, you may file Form I-765, Application for Employment Authorization, to request employment authorization and an Employment Authorization Document(EAD). You may also apply for an EAD that shows such authorization if your immigration status authorizes you to work in the United States without restrictions.

The conditions you must meet and how long you can work in the United States depend on the type of immigration status the Department of Homeland Security (DHS) grants. You must comply with all conditions of your employment authorization and the terms of your admission to this country. If you violate any of the conditions, you could be removed from or denied re-entry into the United States.

FOOTNOTE: THE CITY-COUNTY OBSERVER POSTED THIS ARTICLE WITHOUT BIAS, OPINION, OR EDITING.

SPECIAL: Economic Trends in Evansville, Indiana

1

Economic Trends in Evansville, Indiana: A Look at Wages, Inflation, and Purchasing Power from 2020 to 2024

BY JOE WALLACE

SEPTEMBER 10, 2024

The Evansville, Indiana Metropolitan Statistical Area (MSA) has experienced significant economic shifts from January 2020 to August 2024. This period has been marked by changes in unemployment rates, average wages, and inflation, all contributing to a notable impact on the purchasing power of residents. Below, we explore these metrics and their implications on the region’s economic health.

Key Economic Metrics

Metric January 2020 August 2024 Change
Unemployment Rate 3.4% 4.5% +1.1%
Average Wage $21.60/hr $23.10/hr +6.94%
Inflation Rate 0.1% (2020) 4.82% annually Total: +20.74%
Purchasing Power -13.8%

Unemployment Rate

The unemployment rate in Evansville increased from 3.4% in January 2020 to 4.5% in August 2024. This rise reflects broader economic challenges, including the pandemic’s impact, which initially spiked unemployment across the nation. Although the current rate indicates some recovery, the lingering effects have kept unemployment above pre-pandemic levels, suggesting that the job market in Evansville has not fully rebounded ​(FRED St. Louis Fed)

Average Wage Growth

Average wages in the Evansville MSA have seen modest growth, increasing from approximately $21.60 per hour in 2020 to $23.10 per hour by 2023, representing a 6.94% rise. While this increase seems positive, it is essential to contextualize wage growth within the broader economic environment, particularly considering inflation’s impact on real income. Nominal wage growth without corresponding adjustments for inflation can lead to misconceptions about improved economic conditions​.

Inflation and Its Impact on Purchasing Power

From 2020 to 2024, inflation in the Evansville area averaged about 4.82% annually, leading to a cumulative increase of approximately 20.74% over this period. This inflation rate reflects national trends, where the cost of goods and services has outpaced wage growth, driven by factors like supply chain disruptions, increased demand, and broader economic uncertainties​.

The inflation rate’s impact is seen starkly when comparing wage growth to the inflation rate. Despite the 6.94% increase in average wages, inflation’s cumulative effect has significantly eroded purchasing power, resulting in a net decrease of 13.8%. In other words, while workers in Evansville are earning more in nominal terms, their ability to purchase goods and services has diminished, highlighting the critical challenge inflation poses to household budgets.

Calculating Purchasing Power Change

To understand the change in purchasing power, one must subtract the inflation rate from the wage increase. In this case, a 6.94% wage increase against a 20.74% inflation rate results in a purchasing power decrease of approximately 13.8%. This calculation reveals that the cost of living in Evansville has outpaced wage growth, reducing the real value of earnings and squeezing household finances​.

Implications for Residents and Policymakers

The declining purchasing power in Evansville is a clear signal that wage increases alone are not sufficient to keep pace with rising costs. For residents, this means tighter budgets and potentially difficult choices about spending. For policymakers and business leaders, the data underscores the importance of addressing wage stagnation and inflation. Efforts could include targeted economic policies to support wage growth, incentives for businesses to increase productivity, and measures to manage inflation pressures.

Conclusion

The Evansville MSA’s economic landscape from 2020 to 2024 illustrates the complex interplay between wages, inflation, and employment. While wage growth offers some optimism, the overshadowing impact of inflation has resulted in a tangible loss of purchasing power for residents. As the region continues to navigate these economic challenges, focusing on sustainable wage growth and inflation control will be critical to improving economic resilience and quality of life for its citizens.
REFERENCE:  United States Bureau of Labor and Statistics

Harvest season is here; Dept. of Ag shares tips to stay safe around farm equipment on roads

0

INDIANAPOLIS — Harvest season is officially underway for Indiana’s 94,000 farmers, which means more slow-moving farm equipment will be on Indiana’s rural roads and highways. To keep Hoosiers safe this year, state agencies are asking motorists to be alert and patient, as they share the road with farm equipment this fall.

“The fall is an exciting time for all Hoosiers as the temperatures cool and the leaves turn colors. And Hoosier farmers share that excitement as they prepare to begin harvest,” said Lt. Gov. Suzanne Crouch, Indiana’s Secretary of Agriculture and Rural Development. “While traveling rural roads and highways this fall, remember to watch for large farm equipment moving between fields as they work to harvest the crops, and be sure to know the proper steps to safely navigate around.”

In 2022 four vehicles were involved in crashes with farm equipment in Indiana which resulted in one death, according to the National Highway Traffic Safety Administration.

“Moving farm equipment can be one of the most dangerous parts of a farmers job,” said Don Lamb, director of the Indiana State Department of Agriculture. “When motorists know how to safely navigate around farm equipment, our roads are safer. By working together, farmers and everyday Hoosiers can ensure they arrive safely to their destination.”

Farm equipment during harvest season could include tractors, combines, grain carts, grain wagons and large trucks hauling agricultural products. These vehicles are wide, sometimes taking up most of the road, and often travel at speeds no greater than 25 mph.

The following list includes several safety tips for motorists approaching large farm equipment:

  • Farmers will pull over when they are able to let motorists pass, but it may take time for them to get to a safe place to do so.
  • Be alert. Farm equipment is wide, sometimes taking up most of the road.
  • Be careful when passing. Do not pass in a designated “No Passing Zone” or within 100 feet of any intersection, railroad grade crossing, bridge, elevation structure or tunnel.
  • Do not try to pass a slow-moving vehicle on the left without ensuring that the vehicle is not planning a left turn. It may appear that the driver is pulling over for you to pass when it is actually preparing to turn. You will drive right into its path, endangering yourself and the farmer.
  • Avoid tailgating, as some farm equipment might have to make sudden stops along the road.
  • Allow plenty of time to get to a destination, be aware of alternate routes and avoid distractions.

“When you see farmers out working and moving from field to field, please be patient as they work to harvest their crops which are needed to help feed our communities and the world,” said Doug Carter, Indiana State Police Superintendent. “Let’s all work together to help ensure everyone’s safety on our roadways.”

Rev Up for the 5th Annual Splendid Teapot Race at WPL

0

Join us for an evening of steampunk fun at the 5th Annual Splendid Teapot Race, hosted by the Greater Evansville Steampunk Society! Mark your calendar for Monday, September 16th, and get ready for a one-of-a-kind event in Willard Public Library’s Browning Gallery.

Event Details:

Date: Monday, September 16, 2024

Time: 5:30 PM

Location: Browning Gallery

This year, participants will craft and race teapot-inspired cars using RC cars or tanks! The rules are simple: vehicles can be no taller than 16 inches or wider than 14 inches, and they must prominently feature a teapot. Let your creativity run wild—whether you’re going for speed or style, we have categories for every kind of racer!

Compete for awards in:

– Fastest Course Completion Time

– Best Looking Racer

– Most Interesting Race

– Best Dressed Racer

…and more!

Pro tip: Steampunk-related trinkets can be offered as bribes for extra points!

Steampunk or Victorian-style attire is encouraged, and all ages are welcome to join in the fun. Whether you’re a seasoned enthusiast or a curious newcomer, we invite you to come and experience this whimsical and creative event. Admission is free!

Willard Public Library

Hoosier History Highlights

0

September 15 – September 21

This Week in Indiana History


Market Square Arena September 15, 1974 The first public event was held at the new Market Square Arena in Indianapolis. Singer Glen Campbell entertained the opening night audience.

September 16, 1822 William Conner purchased 80 acres in Marion County to establish an area for Native Americans and French fur traders to transact business. This is likely the origin of “Trader’s Point.”

Conner


Canton Glass September 17, 1891 The Canton glass Company opened in Marion, taking advantage of the natural gas “boom” in that area of the state.

September 19, 1892 The gates opened for the Indiana State Fair at its new locations on East 38th Street. In previous years the fair had been held at Military Park and the area of Camp Morton State Fair

James Dean September 21, 1975 The historical James Dean Museum was dedicated in Fairmount. Displays included memorabilia about actor James Dean who grew up in the Grant County town.

Our Where in Indiana? from last week was taken at the Whitley County Historical Museum in Columbia City. This massive mastodon jaw was found in Whitley County.

160  

Where in Indiana?

Do you know where this photograph was taken?

Visit us on Instagram to submit your answer.

163

Follow us on Instagram: @instatehousetouroffice


Hoosier Barns

©René Stanley


barn


Indiana Statehouse Tour Office

Indiana Department of Administration

Guided Tours of the Indiana Statehouse are offered Monday through Saturday.  For more information, contact us.

(317) 233-5293
Estanley@idoa.in.gov


Statehouse Virtual Tour

Indiana Quick Quiz

1.How many Indiana counties have 30,000 or more people?

2. How many Indiana counties have populations exceeding 100,000?

3. How many Indiana counties have populations exceeding 250,000?

4. .How many Indiana counties have fewer than 10,000 people?

Answers Below


IN

For more activities

             in IN

https://www.visitindiana.com/


Answers

1. 54

2. 17

3. 5

4. 5

hg

A friend worth your tears, will never make you cry.

– William Conner

Please send your favorite Hoosier quote to: RegEdwards@idoa.in.gov


barn


barn


barn


EPD DAILY ACTIVITY REPORT

0
EPD

EPD DAILY ACTIVITY REPORT

 

 

FOOTNOTE: EPD DAILY ACTIVITY REPORT information was provided by the EPD and posted by the City-County-County Observer without opinion, bias, or editing.

Elizabeth Mercer paces UE women at Cardinal Cup

0

 First of three rounds complete

 SIMPSONVILLE, Ky. – Freshman Elizabeth Mercer finished at 2-over par to pace the University of Evansville women’s golf team in the opening round of the Cardinal Cup at the University of Louisville Golf Course.

Mercer recorded a 2-over 74 to lead the Purple Aces.  Her 2-over score has her in a tie for 18th place following the first of three rounds.  Completing Friday’s round with a 77 was Mallory Russell.  She is 5-over and is tied for 36th.

Next up for UE was Louise Standtke.  The freshman scored a 78 to rank in a tie for the 50th position.  She was followed by Kate Petrova, who carded a 79.  Petrova is tied for 59th.  Destynie Sheridan shot a 99 in the opening 18.

Rutgers holds the lead in the team standings.  The Scarlet Knights had a team score of 291 to finish the day three in front of Middle Tennessee State and six in front of a third-place tie between Louisville and Western Kentucky.  Evansville is in 12th place, just one behind Coastal Carolina and two off the pace of 10th-place Cincinnati.

Grace Lu of Rutgers has the individual lead.  Her 3-under 69 paces Catie Craig of WKU by one stroke.  The teams are back on course for the second round on Saturday.

Bipartisan Braun bill adds more oversight to protect American agriculture from foreign adversaries

0

Braun, Tuberville, Manchin, Cotton, Tester, Marshall, Fetterman, Grassley, Blackburn, Ricketts, Barrasso, Britt, Baldwin, Young, Fischer, Ernst, and Lummis lead Senate version of bill expected to move in House this week

Sen. Fetterman, Sen. Grassley, Sen. Blackburn, Sen. Ricketts, Sen. Barrasso, Sen. Britt, Sen. Baldwin, Sen. Young, Sen. Fischer, Sen. Ernst, and Sen. Lummis introduced the Protecting American Agriculture from Foreign Adversaries Act of 2024 to add the Secretary of Agriculture to the Committee on Foreign Investment in the United States (CFIUS) to add another layer of scrutiny on foreign acquisitions of U.S. farmland and agricultural industries and, specifically, flag farmland purchases by foreign adversaries like China, North Korea, Russia and Iran for CFIUS. This will add much-needed extra oversight in this process. According to the USDA, over 43.4 million acres of U.S. agricultural land is foreign-owned. 

Rep. Dan Newhouse introduced the legislation in the House of Representatives.

The House of Representatives is expected to move on this legislation this week.

The House Rules Committee met about this bill Monday, September 9. 

“Chinese ownership of American farmland increased more than 20-fold in the past decade. The amount of American soil in the hands of our foreign adversaries will only go up if we do not implement restrictions and oversight, especially on nations that compromise our national security and agricultural supply chains. I’m proud to lead this effort to protect American farms and food security.”— Sen. Mike Braun

“Joe Biden and Kamala Harris have bowed to China every chance that they get—even when it comes to our agriculture industry. In the last decade alone, we have seen a surge of over 35% in foreign land purchases—including in my home state of Alabama. We can’t give our adversaries like China, Russia, North Korea, and Iran room to negatively influence our agricultural supply chains and food production. Food security is national security, which is why I’m proud to introduce this legislation with Senator Braun that ensures the Secretary of Agriculture has a seat at the table on CFIUS and the opportunity to push back on proposed foreign ag investments.” – Sen. Tommy Tuberville

 Allowing foreign adversaries like the Chinese Communist Party to purchase American farmland and agribusiness poses an unacceptable risk to our food security and national security,” said Tester. “Congress needs to act, and our bipartisan bill will secure much needed oversight to help stop bad actors who want to undermine our country. I’ll keep working with my Republican colleagues to fully prohibit the Chinese Communist Party from purchasing a single inch of American farmland.” Sen. Jon Tester

 “The purchase of American land by our adversaries like the Chinese Communist Party drains our country of resources and puts our national security at risk. We should not allow anyone working on behalf of hostile foreign powers to own a single inch of American soil.” – Sen. Tom Cotton

“The Protecting American Agriculture from Foreign Adversaries Act of 2024 is an essential tool for safeguarding our nation’s agricultural resources from foreign threats. In recent years, we’ve witnessed a troubling surge in foreign ownership of American farmland, posing serious risks to both our national security and food security. This commonsense bill gives the Secretary of Agriculture a permanent review role on CFIUS to prevent adversaries who don’t share our values from gaining control over American agricultural assets, which will protect our farms in West Virginia and across the country.”—Sen. Joe Manchin

  

“When adversarial foreign governments buy up U.S. farmland, it undermines economic opportunities for families across America’s Heartland and presents obvious national security threats. The federal government’s number one job is to protect its citizens. Our legislation would support that fundamental responsibility by taking commonsense actions to address current vulnerabilities.” – Sen. Chuck Grassley

 

“The Chinese Communist Party has proven over and over again they cannot be trusted. They are our adversary, not our ally. All Americans should be alarmed by the amount of American farmland China and other foreign entities own. Giving our adversaries any control over our agricultural resources is a direct threat to our national and food security. Senator Braun’s legislation will help protect America’s farms and safeguard our food supply.” — Sen. John Barrasso

 

“Food security is national security and that requires America’s farmland be protected from foreign adversaries, like China. I believe one acre of American farmland owned by the Chinese Communist Party is one acre too many,” said Senator Britt. “To protect Alabama and America’s farmland from being purchased by malign actors, the Secretary of Agriculture must have a seat at the table. This commonsense legislation ensures the Secretary of Agriculture is made a permanent member of CFIUS in order to weigh in on the needs of America’s agriculture industry when reviewing foreign investment and ownership.”—Sen. Katie Britt

 

“Nearly two-thirds of land in Indiana – and more than half of all land in the United States – is farmland. Recent efforts by China and other adversaries to buy agricultural land across the country could present a national security threat. Indiana is a leader in restricting these purchases, but Congress must act to ensure permanent safeguards are in place in all fifty states.” – Sen. Todd Young

“Food security is national security, and for too long, the federal government has allowed the Chinese Communist Party (CCP) to put our security at risk by turning a blind eye to their steadily increasing purchases of American farmland. It is not enough to just discuss this issue—we must take immediate action to stop the CCP from further encroachment. By adding the Secretary of Agriculture to CFIUS, we can ensure much-needed oversight of agricultural land purchases by foreign adversaries, which will protect American farmers and the industry as a whole. The Chinese Communist Party has long sought to undermine our institutions and very way of life, and I am proud to lead this effort to support farmers in Central Washington and across the nation.”— Rep. Dan Newhouse

  

The Protecting American Agriculture from Foreign Adversaries Act of 2024 would: 

 

  1. Permanently include the Secretary of Agriculture as a member of the Committee on Foreign Investment in the United States (CFIUS) with respect to covered transactions involving agricultural land, agricultural biotech, or the transportation, storage, and processing of agricultural products.
  2. Authorize the Secretary of Agriculture to report both agricultural land transactions that involve foreign persons of China, North Korea, Russia, or Iran, and transactions that require AFIDA reporting to CFIUS. 

This bill is sponsored by the Indiana Farm Bureau, American Farm Bureau, Indiana Soybean Alliance, and the Indiana Corn Growers Association.