summary
Introduced
09/21/2023
09/21/2023
In Committee
09/21/2023
09/21/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A bill to amend the Consolidated Farm and Rural Development Act to modify limitations on amounts of farm ownership loans and operating loans, and for other purposes.
AI Summary
This bill amends the Consolidated Farm and Rural Development Act to increase the maximum loan amounts for farm ownership loans and operating loans, both for direct loans and guaranteed loans. It also modifies the calculation of the inflation adjustment for these loan limits, changes the down payment requirement for the Down Payment Loan Program, and raises the microloan limit. Additionally, the bill requires the Secretary of Agriculture to promulgate regulations allowing certain distressed guaranteed loans to be refinanced into direct loans issued by the Farm Service Agency. The bill expresses the sense of Congress that access to credit is essential for the success of farmers and ranchers, and that Farm Service Agency loan programs should be fully funded to meet producer demand and support family farms.
Committee Categories
Agriculture and Natural Resources
Sponsors (4)
Last Action
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (on 09/21/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/2890/all-info |
| BillText | https://www.congress.gov/118/bills/s2890/BILLS-118s2890is.pdf |
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