Support for Ownership and Investment in Land Act of 2026
Sponsored By: Representative Bacon, Don [R-NE-2]
Introduced
Summary
Expedited approval for farm ownership loans is the bill's main goal. It would create a time-limited pilot to speed qualification and approval for direct farm ownership loans and for guaranteed farm ownership loans handled by Preferred Certified Lenders, with annual reporting on results.
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- Farmers and prospective buyers: Would face a faster qualification and approval process for direct loans and for guaranteed loans when served by a Preferred Certified Lender. This aims to reduce delay for creditworthy applicants.
- Preferred Certified Lenders: Would play a bigger role in speeding guaranteed loan approvals by using their own creditworthiness determinations under the pilot.
- USDA and Congress: The Secretary would be required to start the pilot within one year and send annual reports to agriculture committees. The pilot authority would end on September 30, 2031, and some fiscal-year timing language is made more flexible "to the extent practicable."
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Faster farm loan approvals pilot
This bill would create a time‑limited pilot to speed qualification and approval for certain farm ownership loans. It would cover direct farm ownership loans and guaranteed ownership loans serviced by a Preferred Certified Lender for borrowers that lender finds creditworthy. The Agriculture Secretary would have to start the pilot within one year and send a report to the House and Senate Agriculture Committees within one year and then annually. The pilot would end on September 30, 2031, and it would not let agencies waive statutory requirements except for application timing.
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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