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Easier Loan Repayment and Access for Farmers

This act aims to support farmers facing financial difficulties by offering payment deferrals and zero-interest loans. It also simplifies rules for new loan applications and improves the appeals process for denied assistance, making it easier for farmers to access necessary funds and receive fair treatment.
Key points
Two-year deferral of farm loan payments with zero interest for economically distressed farmers.
Easier access to new farm loans, including debt refinancing and no time limits on loan closures.
Restrictions on using a farmer's primary residence as loan collateral and easier release of such collateral.
Improved appeals process: agencies must justify denials and bear the burden of proof for lower-income farmers.
Possibility of compensation if assistance was wrongly denied and caused losses.
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Expired
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Additional Information
Print number: 118_HR_5296
Sponsor: Rep. Adams, Alma S. [D-NC-12]
Process start date: 2023-08-29
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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

Fair Credit for Farmers Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5296.

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 2023-08-29.

What are the main provisions?

Key points include:

  • Two-year deferral of farm loan payments with zero interest for economically distressed farmers.
  • Easier access to new farm loans, including debt refinancing and no time limits on loan closures.
  • Restrictions on using a farmer's primary residence as loan collateral and easier release of such collateral.
  • Improved appeals process: agencies must justify denials and bear the burden of proof for lower-income farmers.
  • Possibility of compensation if assistance was wrongly denied and caused losses.
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. Adams, Alma S. [D-NC-12].

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.

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