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Farmer Aid: New Emergency Loan Rules and Financial Support

This act modifies the emergency loan program for farmers, making it easier to access financial support during difficult times. Farmers can now use loans for a wider range of needs, including maintaining employee payroll and covering costs related to supply chain disruptions. Additionally, the act introduces zero-interest loans and prioritizes those affected by natural disasters and historically underserved groups.
Key points
Zero interest rate on emergency loans for farmers, reducing financial burden during challenging periods.
Loans can be used for maintaining employee payroll, covering costs due to supply chain disruptions, and making rent or mortgage payments.
Easier access to loans for farmers in historically underserved states for crop insurance and those impacted by natural disasters.
Waiver of the requirement to exhaust other loan options before applying for an emergency loan in response to natural disasters.
Allocation of $10 billion for the emergency loan program, providing significant financial support until 2029.
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Additional Information
Print number: 118_HR_10363
Sponsor: Rep. Hayes, Jahana [D-CT-5]
Process start date: 2024-12-11
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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

Helping America’s Farmers Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_10363.

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 2024-12-11.

What are the main provisions?

Key points include:

  • Zero interest rate on emergency loans for farmers, reducing financial burden during challenging periods.
  • Loans can be used for maintaining employee payroll, covering costs due to supply chain disruptions, and making rent or mortgage payments.
  • Easier access to loans for farmers in historically underserved states for crop insurance and those impacted by natural disasters.
  • Waiver of the requirement to exhaust other loan options before applying for an emergency loan in response to natural disasters.
  • Allocation of $10 billion for the emergency loan program, providing significant financial support until 2029.
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. Hayes, Jahana [D-CT-5].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Agriculture.

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