Pipeline · Bill → Law
Step 1
Introduced
Jan 26, 2023
Step 2
Referred
Feb 13, 2023
Agriculture
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill revises the limits for the Department of Agriculture (USDA) conservation loan guarantee program. The bill replaces the existing 80% limit on the portion of a loan that USDA may guarantee with limits that range from 80%-90%, depending on the principal amount of the loan. For socially disadvantaged or beginning farmers or ranchers, the bill replaces the existing 90% limit with limits that range from 85%-95%, depending on the principal amount of the loan. The bill also (1) prohibits USDA from guaranteeing a loan under the program that exceeds $4 million, and (2) requires USDA to adjust the limits annually for inflation.
Timeline · 3 actions
Feb 13, 2023
Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.
Jan 26, 2023
Introduced in House
Jan 26, 2023
Referred to the House Committee on Agriculture.