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Farmer Aid: Financial Support for 2024 Crop Year

This act introduces one-time payments for farmers who faced losses in 2024 due to high production costs and low commodity prices. It aims to help maintain financial stability for farms by providing support during a challenging period. Payments are capped to ensure fair distribution of funds.
Key points
Farmers may receive one-time financial assistance if their expected crop returns in 2024 are less than production costs.
Support covers crops like corn, soybeans, wheat, cotton, rice, sorghum, oats, and barley, plus other eligible commodities determined by the Secretary of Agriculture.
Payment amounts depend on economic loss and planted acreage, with caps ranging from $175,000 to $350,000 based on farming income percentage.
Funding comes from the Commodity Credit Corporation and is designated as emergency spending, not impacting general budget scorecards.
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Additional Information
Print number: 118_HR_10045
Sponsor: Rep. Kelly, Trent [R-MS-1]
Process start date: 2024-10-25
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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

Farmer Assistance and Revenue Mitigation Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_10045.

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 2024-10-25.

What are the main provisions?

Key points include:

  • Farmers may receive one-time financial assistance if their expected crop returns in 2024 are less than production costs.
  • Support covers crops like corn, soybeans, wheat, cotton, rice, sorghum, oats, and barley, plus other eligible commodities determined by the Secretary of Agriculture.
  • Payment amounts depend on economic loss and planted acreage, with caps ranging from $175,000 to $350,000 based on farming income percentage.
  • Funding comes from the Commodity Credit Corporation and is designated as emergency spending, not impacting general budget scorecards.
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. Kelly, Trent [R-MS-1].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Agriculture Economy