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Farmer Support: Loans for Modern Agricultural Equipment

This new act establishes a loan program for farmers to purchase modern equipment, helping them manage crops and livestock more efficiently. The goal is to reduce resource consumption, such as water and fertilizers, which can lower production costs and improve environmental quality. Farmers can apply for loans up to $500,000 for up to 12 years, making it easier to invest in innovative technologies.
Key points
Loans up to $500,000 available for precision agriculture equipment, such as GPS systems, soil sensors, or data management software.
Loans are for crop or livestock producers with a satisfactory credit history and ability to repay.
Maximum loan term is 12 years, providing flexibility for farmers' financial planning.
The program aims to support agricultural efficiency, reduce resource waste, and protect the environment.
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Additional Information
Print number: 117_HR_9047
Sponsor: Rep. Feenstra, Randy [R-IA-4]
Process start date: 2022-09-29
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Precision Agriculture Loan Program Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9047.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-09-29.

What are the main provisions?

Key points include:

  • Loans up to $500,000 available for precision agriculture equipment, such as GPS systems, soil sensors, or data management software.
  • Loans are for crop or livestock producers with a satisfactory credit history and ability to repay.
  • Maximum loan term is 12 years, providing flexibility for farmers' financial planning.
  • The program aims to support agricultural efficiency, reduce resource waste, and protect the environment.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Feenstra, Randy [R-IA-4].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Agriculture Economy Environment