To establish a pilot program to establish a pre-approval or pre-qualification process for direct farm ownership loans under subtitle A of the Consolidated Farm and Rural Development Act in order to streamline the application process and provide greater certainty to borrowers.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To establish a pilot program to establish a pre-approval or pre-qualification process for direct farm ownership loans under subtitle A of the Consolidated Farm and Rural Development Act in order to streamline the application process and provide greater certainty to borrowers., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Agriculture, Government Operations.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H4AC4EBE69A4747CD9AE32FEFFC004411: 1. Short title This Act may be cited as the Support for Ownership and Investment in Land Act or the SOIL Act.
- Section HBA4EAD52FC6B4F9DB67B07AB3752E43E: 2. Farmer loan pilot projects Subtitle D of the Consolidated Farm and Rural Development Act is amended by inserting after section 333D (7 U.S.C. 1983d) the...
- Section H1A58A82CA0CD44409DD03204550DFC32: 333E. Prior approval or qualification authorization pilot program Beginning not later than 1 year after the date of the enactment of this section, the...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To establish a pilot program to establish a pre-approval or pre-qualification process for direct farm ownership loans under subtitle A of the Consolidated Farm and Rural Development Act in order to streamline the application process and provide greater certainty to borrowers., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Agriculture, Government Operations
Primary Purpose
This bill, To establish a pilot program to establish a pre-approval or pre-qualification process for direct farm ownership loans under subtitle A of the Consolidated Farm and Rural Development Act in order to streamline the application process and provide greater certainty to borrowers., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMr. Bacon introduced the following bill; which was referred to …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_secretary"
- → The Secretary identified in the operative section
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
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