To amend the Consolidated Farm and Rural Development Act to modify the experience requirement for direct farm ownership loans, eliminate the 10-year limitation on direct farm ownership loans, allow direct loans to be used for refinancing indebtedness, increase the lifetime limitation on debt forgiveness per borrower, and provide flexibility with respect to loan fund set asides for beginning farmers and ranchers, and for other purposes.
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 amend the Consolidated Farm and Rural Development Act to modify the experience requirement for direct farm ownership loans, eliminate the 10-year limitation on direct farm ownership loans, allow direct loans to be used for refinancing indebtedness, increase the lifetime limitation on debt forgiveness per borrower, and provide flexibility with respect to loan fund set asides for beginning farmers and ranchers, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Agriculture, Education.
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 S1: 1. Short title This Act may be cited as the Debt Relief and Farm Credit Access Act.
- Section id1bcaa149b8d14ebabfaff8eb05fa0081: 2. Persons eligible for direct farm ownership loans Section 302(b) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1922(b)) is amended— by...
- Section ida0f42045bbc64aea871da622e7644f1b: 3. Improvements to certain provisions of the Consolidated Farm and Rural Development Act Section 303(a)(1) of the Consolidated Farm and Rural Development Act...
- Section id2ba8e930a45845b9a278500f0b7c800c: 4. Loan fund set-asides for beginning farmers and ranchers Section 346(b)(2) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1994(b)(2)) is...
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 amend the Consolidated Farm and Rural Development Act to modify the experience requirement for direct farm ownership loans, eliminate the 10-year limitation on direct farm ownership loans, allow direct loans to be used for refinancing indebtedness, increase the lifetime limitation on debt forgiveness per borrower, and provide flexibility with respect to loan fund set asides for beginning farmers and ranchers, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Agriculture, Education
Primary Purpose
This bill, To amend the Consolidated Farm and Rural Development Act to modify the experience requirement for direct farm ownership loans, eliminate the 10-year limitation on direct farm ownership loans, allow direct loans to be used for refinancing indebtedness, increase the lifetime limitation on debt forgiveness per borrower, and provide flexibility with respect to loan fund set asides for beginning farmers and ranchers, and for other purposes., 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. Welch introduced the following bill; which was read twice …
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.
Learn more about our methodology