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119-hr-4156119th CongressWALLET

Support for Ownership and Investment in Land Act

Sponsored By: Representative Bacon, Don [R-NE-2]

Introduced

Summary

Creates a pilot for USDA pre-approval or pre-qualification of direct farm ownership loans to speed applications and give prospective borrowers clearer upfront certainty. The program aims to streamline loan checks and reduce surprises for applicants.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Pilot pre-approval for farm ownership loans

This bill would test a pre-approval step for USDA direct farm ownership loans. It aims to speed up applications and give borrowers more certainty. USDA could set different eligibility rules for pilot loans, while all other loan rules would still apply. The pilot would start within 1 year of enactment, include an initial and then yearly reports, and end on September 30, 2030. USDA would also consider streamlining required determinations to make reviews faster.

Sponsors & CoSponsors

Sponsor

Bacon, Don [R-NE-2]

NE • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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