HR 5007
Farmers’ Access to Resources and Machinery Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Farmers’ Access to Resources and Machinery Act, aims to make it easier for first-time farmers to access financing for land and equipment. It increases the amount of private activity bond proceeds that can be used to purchase farmland, adjusts for inflation, and clarifies how ‘substantial farmland’ is defined. The bill also removes a separate limitation on using bond proceeds for used farm equipment, streamlining the process for new farmers.
Sponsors
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Primary sponsor
Abby Finkenauer
Cosponsors
Cynthia Axne
David Loebsack
Jeff Fortenberry
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