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Limiting Funds for Rural Economic Development Loans in 2024

This bill aims to cap the available funds for the Rural Economic Development Loans Program Account within the U.S. Department of Agriculture. For fiscal year 2024, the program will be limited to a maximum of $50 million, potentially impacting financial support for businesses and initiatives in rural areas.
Key points
The maximum amount for rural economic development loans in 2024 will be capped at $50 million.
This may reduce the number or value of available loans for businesses and projects in rural areas.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_HR_2280
Sponsor: Rep. Biggs, Andy [R-AZ-5]
Process start date: 2023-03-29
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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

To provide for a limitation on availability of funds for US Department of Agriculture, Rural Business-Cooperative Service, Rural Econoic Development Loans Program Account for fiscal year 2024.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2280.

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 2023-03-29.

What are the main provisions?

Key points include:

  • The maximum amount for rural economic development loans in 2024 will be capped at $50 million.
  • This may reduce the number or value of available loans for businesses and projects in rural areas.
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. Biggs, Andy [R-AZ-5].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development.

Is this summary verified?

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

CATEGORIES

Agriculture Public Investments Economy