Fair Credit for Farmers Act
Summary
What This Bill Does
The bill exempts payment deferral, interest rate reduction, guarantee fee waivers, and maturity extensions for farm loan borrowers who are delinquent or financially distressed, requires comprehensive farm loan reform: adverse decision transparency requirements, collateral limitations on principal residences, 100% collateralization cap, expanded refinancing eligibility, removal of debt, and requires new Section 375 of the Consolidated Farm and Rural Development Act: definitions for adverse decisions and principal residence, determination letter requirements, collateral limitations, automatic release. It relies on exemptions, compliance mandates, definition changes, and loan guarantees. The main policy areas are Agriculture and Finance.
Who Benefits and How
Farm borrowers with homes as collateral could see lower costs, Beginning farmers and ranchers would be affected, and Small and mid-size farmers and ranchers could see lower costs.
Who Bears the Burden and How
USDA Farm Service Agency would be affected, USDA agencies subject to NAD review could face higher costs, and USDA Secretary of Agriculture could face higher costs.
Key Provisions
- Exempts payment deferral, interest rate reduction, guarantee fee waivers, and maturity extensions for farm loan borrowers who are delinquent or financially distressed.
- Requires comprehensive farm loan reform: adverse decision transparency requirements, collateral limitations on principal residences, 100% collateralization cap, expanded refinancing eligibility, removal of debt...
- Requires new Section 375 of the Consolidated Farm and Rural Development Act: definitions for adverse decisions and principal residence, determination letter requirements, collateral limitations, automatic release...
- Requires reform of National Appeals Division: shifts burden of proof to the agency for appellants with AGI under $300,000 and requires agencies to implement NAD determinations using only the information already in...
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
The bill exempts payment deferral, interest rate reduction, guarantee fee waivers, and maturity extensions for farm loan borrowers who are delinquent or financially distressed, requires comprehensive farm loan reform: adverse decision transparency requirements, collateral limitations on principal residences, 100% collateralization cap, expanded refinancing eligibility, removal of debt, and requires new Section 375 of the Consolidated Farm and Rural Development Act: definitions for adverse decisions and principal residence, determination letter requirements, collateral limitations, automatic release.
Key Policy Areas
Agriculture, Finance
Primary Purpose
The bill exempts payment deferral, interest rate reduction, guarantee fee waivers, and maturity extensions for farm loan borrowers who are delinquent or financially distressed, requires comprehensive farm loan reform: adverse decision transparency requirements, collateral limitations on principal residences, 100% collateralization cap, expanded refinancing eligibility, removal of debt, and requires new Section 375 of the Consolidated Farm and Rural Development Act: definitions for adverse decisions and principal residence, determination letter requirements, collateral limitations, automatic release.
Policy Domains
Whole bill
Identified Gains
- Farm borrowers with homes as collateral
- Beginning farmers and ranchers
- Small and mid-size farmers and ranchers
- Small and mid-size farmers (AGI under $300K)
- Farm program loan borrowers
Identified Costs
- USDA Farm Service Agency
- USDA agencies subject to NAD review
- USDA Secretary of Agriculture
- Private lenders of guaranteed farm loans
- Federal taxpayers
Sponsors
Legislative Progress
In CommitteeReferred to the Subcommittee on General Farm Commodities, Risk Management, …
Ms. Adams (for herself and Ms. McClellan) introduced the following …
Referred to the House Committee on Agriculture.
Introduced in House
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Beginning farmers and ranchers, Delinquent and financially distressed farm borrowers, Farm borrowers with homes as collateral
Fair Credit for Farmers Act (naming), USDA Farm Service Agency, USDA Secretary of Agriculture
Bill Structure & Actor Mappings
Who is "The Secretary" in each 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.
Learn more about our methodology