Support for Ownership and Investment in Land Act

House Votes

This bill sets up a pilot program to let USDA pre-approve or pre-qualify people for direct farm ownership loans. The goal is to make applying faster and clearer for borrowers. It also lets USDA try some different eligibility rules within the pilot, while keeping all the other loan rules in place. USDA is told to look at ways to simplify parts of the loan decision process and report each year on how the pilot is working.

The program must start within one year after the law takes effect and will end on September 30, 2030.

• Who is affected: People seeking USDA direct farm ownership loans.
• What changes: A pre-approval/pre-qualification pilot to speed up applications; possible alternative eligibility rules within the pilot; efforts to streamline loan determinations; yearly reports on results.
• When: Begins within one year of enactment; authority ends September 30, 2030.