HR 4657
Next Generation Farmer Act
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- Passed House
- Passed Senate
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Bill overview
The Next Generation Farmer Act aims to make it easier for beginning farmers and ranchers to access farm ownership loans. It modifies the requirements for eligibility by reducing the required years of experience from 3 to 1. The bill also introduces a waiver process allowing the Secretary of Agriculture to overlook the experience requirement if a farmer has significant hired labor experience or a strong mentoring relationship with an experienced farmer or rancher. This change intends to support the next generation of agricultural producers.
Key provisions
- Reduces the required years of experience for farm ownership loans from 3 to 1.
- Establishes a waiver process for the experience requirement.
- Allows for waiver if the applicant has 1 year of experience as hired farm labor with substantial management responsibilities.
- Allows for waiver if the applicant has a mentoring relationship with a retired farmer, a Service Corps of Retired Executives counselor, or a local farm operator.
Who is affected
- Beginning farmers
- Beginning ranchers
- Agricultural lenders
- The U.S. Department of Agriculture (USDA)
- The agricultural community
Notable changes
- Changes the experience requirement for farm ownership loans.
- Introduces a waiver authority for the experience requirement.
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Primary sponsor
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119th CONGRESS — 1st Session
H. R. 4657
IN THE HOUSE OF REPRESENTATIVES
A BILL
To amend the Consolidated Farm and Rural Development Act to modify limitations on access to farm ownership loans for beginning farmers and ranchers.
This Act may be cited as the Next Generation Farmer Act
.
Section 302(b) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1922(b)) is amended—
in paragraph (1), in the matter preceding subparagraph (A), by striking 3 years
and inserting 1 year
; and
by striking paragraph (4) and inserting the following:
at least 1 year of experience as hired farm labor with substantial management responsibilities; or