S. 910 · Where this bill is now
In committee
Introduced in the Senate, Mar 10, 2025
What this bill does
In plain words · AI-written from the official summarySpeeds up farm loan approval for new farmers
The USDA would test out a new way to help farmers and ranchers get loans to buy and develop farmland. Instead of making people wait through the normal approval process, this pilot program would let qualified applicants get pre-approved ahead of time. The program would also reach out to organizations that work with beginning farmers and ranchers, and use new methods like financial benchmarking to figure out whether someone is likely to repay a loan.
How it affects you
If you're a beginning farmer or rancher looking to buy land or develop a farm, this could make it easier and faster to get a loan through USDA's Farm Service Agency. The program focuses specifically on newer farmers and ranchers, so those starting out in agriculture would see the biggest difference.
Read the official summary (Introduced in Senate, Mar 10, 2025)
Farm Ownership Improvement Act
This bill directs the Department of Agriculture (USDA) to establish a pilot program to implement a pre-qualification or pre-approval process for farmers and ranchers for direct farm ownership loans. As background, the Farm Service Agency Direct Loan Program provides Farm Ownership Loans to farmers and ranchers for the purchase and development of farm property.
Under the five-year pilot program, USDA must prioritize outreach to organizations that have demonstrated engagement with beginning farmers or ranchers.
In addition, USDA may make use of alternative methods, including financial benchmarking, to reliably evaluate the financial viability of a participant in the pilot program and the likelihood of repayment of the applicable loan.
USDA must submit an annual report to Congress on the pilot program, which must include a description of the program's performance outcomes and a recommendation as to the pilot program's value.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionS. 910
A BILL
Farm Ownership Improvement Act
Sponsor: Sen. Peter Welch (D-VT) · Introduced Mar 10, 2025 · Agriculture and Food · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Mar 10, 2025: “Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.”