Legislation1w ago
42
To authorize implementation grants to community-based nonprofits to operate one-stop reentry centers.
HR8548Rep. Kamlager-Dove, Sydney [D-CA-37] (D-CA)
introduced
HR7475119th CongressWALLET
Expedited Guaranteed Lender Pilot Program Act
Sponsored By: Representative Rep. Scott, Austin [R-GA-8]
Introduced
Summary
An Expedited Loan Guarantee Approval Pilot Program would create a fast-track process for USDA-guaranteed bridge loans so creditworthy borrowers can get quicker approvals through Preferred Certified Lenders. The bill also directs the Secretary to streamline certain lender certifications and eligibility checks while keeping existing legal requirements intact except for timing of processing.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Faster USDA bridge loans for farms
This bill would create a pilot to speed approvals for USDA-guaranteed bridge loans. The pilot must begin within 1 year of enactment and would end on September 30, 2031. You would be able to use the expedited process only if a Preferred Certified Lender services the loan and that lender finds you creditworthy. The USDA would be asked to consider streamlining certain certification and determination steps and must report to House and Senate Agriculture committees within 1 year and then every year. The pilot would not allow waiving other statutory requirements, but it could affect timing for processing applications.
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Sponsors & CoSponsors
Sponsor
Rep. Scott, Austin [R-GA-8]
GA • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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