Bill > HR3211

This bill establishes a Precision Agriculture Loan Program designed to help agricultural producers adopt advanced farming technologies. Precision agriculture is defined as managing crop and livestock production inputs (like seed, fertilizer, water, and chemicals) with high spatial and temporal specificity to improve efficiency and reduce environmental impact. The program, which will be administered by the Farm Service Agency, will provide loans up to $500,000 with a maximum term of 12 years to eligible producers who have a satisfactory credit history and can demonstrate their ability to repay the loan. The loans can be used to purchase precision agriculture equipment, which includes technologies like GPS-based mapping, satellite imagery, yield monitors, soil sensors, data management software, and auto-steer systems. Borrowers must provide loan security, either through a lien on the purchased equipment or another form acceptable to the Secretary of Agriculture. The bill also requires annual reporting to Congressional committees, including detailed data about loan recipients, such as their age, farm size, agricultural commodities, loan amounts, and demographic information. The goal is to encourage the adoption of advanced agricultural technologies that can help farmers reduce input costs, improve productivity, and maintain environmental quality.

Agriculture and Natural Resources

https://www.congress.gov/bill/119th-congress/house-bill/3211/all-info