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Easier Access to Loans for New Farmers and Ranchers.

The Act eliminates the requirement of blood or marriage relationship for individuals applying for federal loans designated for beginning farmers and ranchers. This change ensures that unrelated individuals who wish to start a farming business together will have equal opportunities to obtain financial support. This opens the door to agriculture for a wider range of new entrepreneurs.
Key points
Elimination of the requirement of relationship (blood or marriage) when applying for loans for beginning farmers and ranchers.
Expansion of access to federal financing for new farming partnerships and ventures not bound by family ties.
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Expired
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Additional Information
Print number: 118_S_4219
Sponsor: Sen. Welch, Peter [D-VT]
Process start date: 2024-05-01
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Future Farmers and Ranchers of Tomorrow Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_4219.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-05-01.

What are the main provisions?

Key points include:

  • Elimination of the requirement of relationship (blood or marriage) when applying for loans for beginning farmers and ranchers.
  • Expansion of access to federal financing for new farming partnerships and ventures not bound by family ties.
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 Sen. Welch, Peter [D-VT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Agriculture Economy