Bill > HR4736

This bill amends the Consolidated Farm and Rural Development Act to allow Farm Credit System institutions (which provide financing and technical assistance to the agricultural sector) to offer financing and support for essential community facilities projects in rural areas. These projects can include those related to healthcare, education, childcare, public safety, and other vital services. The bill sets a 15% asset limit on the amount of financing these institutions can provide, and requires them to offer the financing opportunity to at least one other lending institution and report the offer to the Farm Credit Administration. The amendment will take effect on October 1, 2023.