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Faster Farm Loans: Pilot Program for Land Ownership Pre-Approval.

This law establishes a pilot program designed to simplify and speed up the process of obtaining federal loans for purchasing farmland. By introducing a pre-approval system, farmers seeking financing will gain greater certainty regarding their loan eligibility before submitting a full application. This temporary program aims to facilitate investment in agricultural properties and is set to expire in September 2029.
Key points
Establishes a pilot program for pre-approving direct federal farm ownership loans.
The goal is to streamline the application process and provide greater certainty to farmers seeking to buy land.
The program is temporary, with the authority terminating on September 30, 2029.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_8448
Sponsor: Rep. Bacon, Don [R-NE-2]
Process start date: 2024-05-17
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

SOIL Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8448.

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 2024-05-17.

What are the main provisions?

Key points include:

  • Establishes a pilot program for pre-approving direct federal farm ownership loans.
  • The goal is to streamline the application process and provide greater certainty to farmers seeking to buy land.
  • The program is temporary, with the authority terminating on September 30, 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. Bacon, Don [R-NE-2].

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 Economy