Commodity Markets, Digital Assets, and Rural Development Subcommittee, Ways and Means Committee, Agriculture Committee
Introduced
In Committee
On Floor
Passed Chamber
Enacted
Helping America's Farmers Act This bill provides financial assistance to certain agricultural entities. Specifically, the bill directs the Farm Service Agency (FSA) of the Department of Agriculture (USDA) to carry out a program to provide economic disaster loans to certain agricultural entities with an adjusted gross income of less than or equal to $500,000. Under the program, such entities are eligible for zero-interest loans of up to $2 million and may seek loan forgiveness based on demonstrated economic hardship. In making loans, priority must be given to (1) entities located in states most impacted by an economic disaster; and (2) minority, veteran, and women farmers and ranchers. The FSA may also guarantee a loan to certain agricultural entities with an adjusted gross income of greater than $500,000 if such loan meets certain requirements. Entities that apply for a loan or loan guarantee may request that the FSA provide an emergency grant of at least $20,000 upon application. The bill also provides funding for USDA to carry out a program to provide FSA staff with appropriate training relating to economic injury loan processing and servicing.
Referred to the Committee on Agriculture, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Referred to the Committee on Agriculture, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Agriculture and Food
Helping America’s Farmers Act
USA117th CongressHR-4456| House
| Updated: 8/11/2021
Helping America's Farmers Act This bill provides financial assistance to certain agricultural entities. Specifically, the bill directs the Farm Service Agency (FSA) of the Department of Agriculture (USDA) to carry out a program to provide economic disaster loans to certain agricultural entities with an adjusted gross income of less than or equal to $500,000. Under the program, such entities are eligible for zero-interest loans of up to $2 million and may seek loan forgiveness based on demonstrated economic hardship. In making loans, priority must be given to (1) entities located in states most impacted by an economic disaster; and (2) minority, veteran, and women farmers and ranchers. The FSA may also guarantee a loan to certain agricultural entities with an adjusted gross income of greater than $500,000 if such loan meets certain requirements. Entities that apply for a loan or loan guarantee may request that the FSA provide an emergency grant of at least $20,000 upon application. The bill also provides funding for USDA to carry out a program to provide FSA staff with appropriate training relating to economic injury loan processing and servicing.
Referred to the Committee on Agriculture, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Referred to the Committee on Agriculture, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.