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Easier Farm Loans: Reduced Experience Requirement for Farmers

New rules make it easier for farmers and ranchers to get direct farm real estate loans. Instead of three years of experience, only one year or other acceptable education or experience is now required. This means more people, including young farmers, can apply for financial support to develop their farms sooner.
Key points
The experience requirement for direct farm real estate loans has been reduced from three years to one year.
Individuals with other acceptable education or experience can also meet the criteria, opening up loans to a wider group of farmers.
The minimum experience period for certain exceptions has also been shortened from three years to six months or one year, depending on the situation.
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Additional Information
Print number: 118_HR_5172
Sponsor: Rep. Nunn, Zachary [R-IA-3]
Process start date: 2023-08-08
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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 amend the Consolidated Farm and Rural Development Act to reduce the eligibility requirement for direct farm real estate loans, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5172.

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 2023-08-08.

What are the main provisions?

Key points include:

  • The experience requirement for direct farm real estate loans has been reduced from three years to one year.
  • Individuals with other acceptable education or experience can also meet the criteria, opening up loans to a wider group of farmers.
  • The minimum experience period for certain exceptions has also been shortened from three years to six months or one year, depending on the situation.
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. Nunn, Zachary [R-IA-3].

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 2025-12-25.

CATEGORIES

Agriculture Real Estate