New Farm Program: $100M Annually for Land Access and Capital for Underserved Farmers.
This Act establishes a competitive grant program providing $100 million annually to help historically underserved, young, and beginning farmers secure land, capital, and market access. The funds are channeled through eligible organizations to provide direct financial assistance, including down payment aid, mortgage subsidies, and help securing clear land titles. The goal is to prevent land loss and ensure the long-term viability of farms operated by those most in need of support.
Key points
Direct Financial Aid: Provides grants and loans for purchasing agricultural land, covering closing costs, subsidizing interest rates, and offering down payment assistance.
Focus on Underserved Groups: Priority beneficiaries include young and beginning farmers, those in high-poverty areas, and historically underserved farmers, ranchers, and forest owners.
Land Security and Viability: Funds can be used to resolve complex ownership issues (like heirs' property) and support land improvement, infrastructure, and long-term business planning.
Expired
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