# 119-s-469: Family Farm and Small Business Exemption Act

119-s-469, Family Farm and Small Business Exemption Act, is a 119th Congress bill sponsored by Sen. Ernst, Joni [R-IA] (R-IA); status introduced; PRIA reads it as touching household money (as of 2026-07-29).

- Canonical: https://policyrisk.com/legislation/119-s-469
- As of: 2026-07-29
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-469
- Congress: 119
- Title: Family Farm and Small Business Exemption Act
- Status: introduced
- Introduced: 2025-02-06
- Sponsor: Sen. Ernst, Joni [R-IA] (R-IA)
- Cosponsors: 13
- Policy area: Education
- Touches household money: yes
- Last recorded action: 2026-07-29

## Summary

**Restores an exemption to keep the net worth of family farms and qualifying small businesses out of FAFSA asset calculations.** The bill would exclude the net value of a family farm where the family lives and of a family-owned small business with up to 100 full-time or full-time equivalent employees from the Title IV need-analysis process. - Families on a family farm would not have the farm's net worth counted in FAFSA asset totals, removing a large illiquid asset from the calculation. - Families that own and control a small business with no more than 100 full-time equivalent employees would likewise exclude that business's net value from FAFSA assets. - Students from those households would report lower counted assets on federal need forms, which can change their assessed need for federal student aid.

## Cosponsors (13)

- Sen. Bennet, Michael F. [D-CO] (D-CO), 2025-02-06T00:00:00.000Z
- Sen. Grassley, Chuck [R-IA] (R-IA), 2025-02-06T00:00:00.000Z
- Sen. Marshall, Roger [R-KS] (R-KS), 2025-02-06T00:00:00.000Z
- Sen. Justice, James C. [R-WV] (R-WV), 2025-02-06T00:00:00.000Z
- Sen. Moran, Jerry [R-KS] (R-KS), 2025-02-06T00:00:00.000Z
- Sen. Hoeven, John [R-ND] (R-ND), 2025-02-06T00:00:00.000Z
- Sen. Rounds, Mike [R-SD] (R-SD), 2025-02-06T00:00:00.000Z
- Sen. Boozman, John [R-AR] (R-AR), 2025-02-06T00:00:00.000Z
- Sen. Tillis, Thomas [R-NC] (R-NC), 2025-02-06T00:00:00.000Z
- Sen. Ricketts, Pete [R-NE] (R-NE), 2025-02-11T00:00:00.000Z
- Sen. Tuberville, Tommy [R-AL] (R-AL), 2025-06-11T00:00:00.000Z
- Sen. Gallego, Ruben [D-AZ] (D-AZ), 2025-09-02T00:00:00.000Z
- Sen. McCormick, David [R-PA] (R-PA), 2026-07-27T00:00:00.000Z

## Provisions PRIA read

- Exclude family farms and small businesses: benefit, medium. This bill would change how Title IV need analysis counts family assets. It would allow families to exclude the net value of a family farm they live on. It would also allow families to exclude the net value of a small business they own and control. That business must have no more than 100 full-time…

## Related bills

- 119-sres-913: A resolution relating to the death of the Honorable Nancy Kassebaum, former United States Senator for the State of Kansas.
- 119-sres-897: A resolution honoring the life, service, and legacy of the Honorable Jon Llewellyn Kyl, former Senator for the State of Arizona.
- 119-sres-801: A resolution honoring the life and legacy of the Honorable Lindsey Olin Graham, a Senator from the State of South Carolina.
- 119-sres-755: A resolution honoring the life of the Honorable Donald W. Riegle, Jr., former Senator for the State of Michigan.
- 119-sres-739: A resolution honoring the life and legacy of John Seymour, the late Senator for the State of California.
- 119-sres-723: A resolution honoring the life of Dirk Arthur Kempthorne, former United States Senator for the State of Idaho.

## Sources
- [119-s-469 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/469)

## Related
- [119-sres-913: A resolution relating to the death of the Honorable Nancy Kassebaum, former Uni…](https://policyrisk.com/legislation/119-sres-913)
- [119-sres-897: A resolution honoring the life, service, and legacy of the Honorable Jon Llewel…](https://policyrisk.com/legislation/119-sres-897)
- [119-sres-801: A resolution honoring the life and legacy of the Honorable Lindsey Olin Graham,…](https://policyrisk.com/legislation/119-sres-801)
- [119-sres-755: A resolution honoring the life of the Honorable Donald W. Riegle, Jr., former S…](https://policyrisk.com/legislation/119-sres-755)
- [119-sres-739: A resolution honoring the life and legacy of John Seymour, the late Senator for…](https://policyrisk.com/legislation/119-sres-739)
- [119-sres-723: A resolution honoring the life of Dirk Arthur Kempthorne, former United States…](https://policyrisk.com/legislation/119-sres-723)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-469 (as of 2026-07-29).