Support for Ownership and Investment in Land Act of 2026
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill establishes a pilot program within the Department of Agriculture to speed up the approval process for direct and guaranteed farm ownership loans. The program aims to streamline loan assessments and provide a more efficient pathway for farmers and ranchers to obtain financing. It will operate for a limited time, ending in 2031, and requires the Secretary of Agriculture to report on the program’s effectiveness. The bill also makes some changes to existing loan timelines.
Key provisions
- Creates a pilot program for expedited approval of farm ownership loans.
- Focuses on direct and guaranteed farm ownership loans serviced by Preferred Certified Lenders.
- Requires the Secretary of Agriculture to streamline loan determination processes.
- Mandates an annual report to Congress on the pilot program’s results.
- Includes conforming amendments to existing loan timelines.
Who is affected
- Farmers
- Ranchers
- Agricultural borrowers
- The Department of Agriculture
- Creditworthy borrowers
Notable changes
- Expedited loan approval process.
- Streamlined loan assessment procedures.
- Changes to loan timeline deadlines.
Bill text
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Sponsors
Official sponsors from legislative records.
1 on record
Primary sponsor
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