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Restricting Farm Credit for Foreign Persons

Starting January 1, 2024, individuals defined as 'foreign persons' will be ineligible for new credit or financial services from the Farm Credit System. This change primarily affects non-US citizens or entities seeking agricultural financing through this specific system, without altering access for eligible Americans.
Key points
Foreign persons will not be able to get new loans or financial services from the Farm Credit System starting January 1, 2024.
Existing loan agreements made before this date are not affected by this change.
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Status:
Expired
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Additional Information
Print number: 117_S_4954
Sponsor: Sen. Grassley, Chuck [R-IA]
Process start date: 2022-09-27
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Farm Credit for Americans Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_4954.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-09-27.

What are the main provisions?

Key points include:

  • Foreign persons will not be able to get new loans or financial services from the Farm Credit System starting January 1, 2024.
  • Existing loan agreements made before this date are not affected by this change.
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 Sen. Grassley, Chuck [R-IA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Agriculture Economy