Bill · S. 910· Senate(119-S-910)
Farm Ownership Improvement Act
- Introduced
- 3/10/2025
- Last activity
- 3/10/2025 — Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
- Sponsored by
- Peter Welch
- Cosponsors
- - 1 - 1
- Introduced
- In Committee
What this bill would do
This bill, known as the "Farm Ownership Improvement Act," directs the Secretary of Agriculture to create a 5-year pilot program. The program focuses on implementing a pre-qualification or pre-approval process for farmers and ranchers seeking direct farm ownership loans under the Consolidated Farm and Rural Development Act. To determine financial viability and repayment likelihood, the Secretary may use alternative methods such as financial benchmarking. The Secretary is also tasked with prioritizing outreach to organizations that work with beginning farmers or ranchers. Finally, the Secretary must evaluate the program and submit annual reports to relevant Senate and House committees.
Yes· 3 of 5
Would farmers be better off under this?+7
The bill specifically creates easier paths for farmers and ranchers to secure ownership loans.
Would business owners be better off under this?+5
Farmers and ranchers can benefit from a streamlined loan pre-qualification process.
Would people in rural areas be better off under this?+5
By targeting beginning farmers and ranchers, the bill supports rural economic development.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Streamlined Loan Process: The establishment of a pre-qualification or pre-approval process for direct farm ownership loans could benefit farmers and ranchers (Section 2, subsection a).
-
Flexible Financial Evaluation: The Secretary may use alternative methods, such as financial benchmarking, to evaluate a participant's financial viability and likelihood of loan repayment (Section 2, subsection b).
-
Support for New Producers: The Secretary is directed to prioritize outreach to organizations that have demonstrated engagement with beginning farmers or ranchers (Section 2, subsection d).
Potential Negative Impacts for People
- No Explicit Negative Impacts Identified: The provided text does not list specific provisions that result in negative consequences or burdens for individuals or groups.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Farmers+7Good For Business Owners+5Good For Rural Residents+5
- Economy And Finance
- Improves Small Business Support+5
- Environment Energy And Infrastructure
- Improves Rural Development+5
- 3/10/2025
- Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
- 2 Cosponsors added.
- Introduced in Senate
John HoevenRepublican · North Dakota
Tina SmithDemocrat · Minnesota