Skip to main content
S 5231 118th Congress Senate Agriculture and Food

Farm Ownership Improvement Act

Introduced: September 25, 2024 Introduced by: Welch, Peter Democratic · Vermont See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 25, 2024
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Sep 25, 2024
Introduced in Senate
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service

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.

What's happening now September 25, 2024

Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1
R
Hoeven, John
North Dakota · Sep 25, 2024
 D
Smith, Tina
Minnesota · Sep 25, 2024
Cite this page click to expand
APA
U.S. Congress. (2026). S. 5231: Farm Ownership Improvement Act. 118th Congress. Open America. https://openamerica.io/bill/118-S-5231/
MLA
"S. 5231: Farm Ownership Improvement Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-5231/.
Bluebook (legal)
S. 5231, 118th Cong. (2026), https://openamerica.io/bill/118-S-5231/.
Markdown link
[S. 5231: Farm Ownership Improvement Act](https://openamerica.io/bill/118-S-5231/)
Report a problem