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Bill > HR8198


US HR8198

Heirs Education and Investment to Resolve Succession of Property Act


summary

Introduced
05/01/2024
In Committee
09/03/2024
Crossed Over
Passed
Dead
01/03/2025

Introduced Session

118th Congress

Bill Summary

A BILL To reauthorize and improve the relending program to resolve ownership and succession on farmland, and for other purposes.

AI Summary

This bill, the Heirs Education and Investment to Resolve Succession of Property Act, aims to reauthorize and improve the relending program that helps resolve ownership and succession issues on farmland. It does this by: 1. Reauthorizing the Heirs Property Intermediary Relending Program until 2028. 2. Authorizing the Secretary of Agriculture to enter into cooperative agreements with eligible nonprofit organizations to provide free legal or accounting services to "underserved heirs" (those with limited financial resources, from socially disadvantaged groups, or veterans) to help resolve property ownership and succession issues on farmland or forest land with multiple owners. 3. Requiring the Secretary to submit annual reports to Congress on the activities carried out under the new cooperative agreements program. 4. Extending the requirement for the Secretary to report annually on the operations and outcomes of the relending program to resolve ownership and succession on farmland. 5. Extending the requirement for the Secretary to report on land access and farmland ownership data collection through 2028.

Committee Categories

Agriculture and Natural Resources

Sponsors (4)

Last Action

Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit. (on 09/03/2024)

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