H.R. 5004 – Next Generation of Farmers Act of 2025
This bill aims to amend the Consolidated Farm and Rural Development Act to reduce the eligibility requirement for direct farm real estate loans.
Key Points
- Reduces the eligibility requirement for direct farm real estate loans under the Consolidated Farm and Rural Development Act
- Allows farmers or ranchers with at least 1 year of experience in management and business operations, or other acceptable education or experience, to be eligible for direct loans
- Reduces the eligibility requirement from 3 years to 1 year
Details
The bill modifies Section 302(b) of the Consolidated Farm and Rural Development Act. It changes the eligibility requirement for direct loans under this subtitle from requiring at least 3 years of experience to allowing farmers or ranchers with at least 1 year of experience in management and business operations, or other acceptable education or experience.
The bill also reduces the eligibility requirement from 3 years to 1 year for those who have been substantially participating in the management and business operations of a farm or ranch, as determined by the Secretary.
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