Bill > S3126

This bill, known as the Fair Credit for Farmers Act of 2025, introduces comprehensive reforms to agricultural lending and farm loan programs. The bill provides significant relief for farmers by deferring payments on direct farm loans for eligible borrowers for two years, reducing the interest rate on these loans to 0.125 percent during that period, and waiving guarantee fees for certain producers like limited resource farmers, socially disadvantaged farmers, beginning farmers, and veteran farmers. The legislation also reforms farm loan eligibility requirements by allowing more flexibility for beginning farmers, removing previous restrictions based on debt write-downs, and establishing new guidelines for loan collateralization that protect farmers' primary residences. Additionally, the bill enhances the National Appeals Division process by shifting the burden of proof to the agricultural agency for appellants with adjusted gross incomes below $300,000, and requiring agencies to use existing information when implementing appeal determinations. These reforms aim to provide more supportive and accessible financial assistance to farmers, particularly those facing economic challenges or just starting in agriculture.

Agriculture and Natural Resources

https://www.congress.gov/bill/119th-congress/senate-bill/3126/all-info