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S. 469

U.S. Senate•In Senate Committee

Summary

S. 469, the Family Farm and Small Business Exemption Act, was introduced in the Senate on Feb 6, 2025 by Sen. Joni Ernst (R) with 13 co-sponsors. It was referred to Health, Education, Labor, And Pensions, and last saw action on Feb 6, 2025: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Record

Text

S. 469 has 13 co-sponsors.

sb469/introduced-in-senate.txt
119 S469 IS: Family Farm and Small Business Exemption Act
 U.S. Senate
 2025-02-06
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 II  119th CONGRESS  1st Session  S. 469  IN THE SENATE OF THE UNITED STATES   February 6 (legislative day, February 5), 2025   Ms. Ernst  (for herself,  Mr. Bennet ,  Mr. Grassley ,  Mr. Marshall ,  Mr. Justice ,  Mr. Moran ,  Mr. Hoeven ,  Mr. Rounds ,  Mr. Boozman , and  Mr. Tillis ) introduced the following bill; which was read twice and referred to the  Committee on Health, Education, Labor, and Pensions    A BILL
To restore the exemption of family farms and small businesses from the definition of assets under title IV of the Higher Education Act of 1965.
1.
Short title
This Act may be cited as the   Family Farm and Small Business Exemption Act  .
2.
Exempting family farms and small businesses from assets under the Higher Education Act of 1965
(a)
In general
Section 480(f)(2) of the Higher Education Act of 1965 ( 20 U.S.C. 1087vv(f)(2) ) is amended—
(1)
by striking  net value of the  and inserting the following:
net value of—
(A)
the
 ;
(2)
by striking the period at the end and inserting a semicolon; and
(3)
by adding at the end the following:
(B)
a family farm on which the family resides; or
(C)
a small business with not more than 100 full-time or full-time equivalent employees (or any part of such a small business) that is owned and controlled by the family.
 .
(b)
Applicability
The amendments made by subsection (a) shall apply to need analysis conducted under part F of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1087kk et seq. ) for award years beginning on or after the date of the enactment of this Act.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-02-06
  2. Passed Senate
  3. Passed House
  4. Conference
  5. To President
  6. Became Law

CRS Summary

The summaries are the Congressional Research Service’s, one per stage. Read them in full.

Introduced in Senate Feb 6, 2025

sb469/introduced-in-senate.md

Shown Here:
Introduced in Senate (02/06/2025)

Family Farm and Small Business Exemption Act

This bill restores an exemption for certain family farms and small businesses on the Free Application for Federal Student Aid (FAFSA) form. The bill applies to the net worth of (1) a family farm on which the family resides, or (2) a small business with not more than 100 full-time or full-time equivalent employees that is owned and controlled by the family.

Prior to recent changes made to the FAFSA, the net worth of these family farms and small businesses were excluded as assets when calculating a student's financial need to determine federal student aid eligibility. Beginning with the 2024-2025 academic year, the net worth of these farms and businesses are treated as an asset and therefore included in the calculation. This bill restores the exemption to exclude such net worth from the calculation.

Sponsors

Sen. Joni Ernst (R) sponsors S. 469, and 13 members have co-sponsored it, 9 of them from the day it was introduced.

Committees

S. 469 went before 1 committee: Health, Education, Labor, and Pensions.

Health, Education, Labor, and Pensions
Health, Education, Labor, and Pensions
Referred To · Feb 6, 2025 · 747 Bills

Actions

S. 469 has taken 2 actions since Feb 6, 2025.

ChamberAction
Feb 6, 2025
Senate
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.Health, Education, Labor, and Pensions Committee
Feb 6, 2025
—
Introduced in Senate

Votes

S. 469 has not gone to a roll call.

1 bill is related to S. 469.

Titles

S. 469 goes by 3 titles, 1 of them short titles.

  • Family Farm and Small Business Exemption Act — Display Title
  • Family Farm and Small Business Exemption Act — Short Title(s) as Introduced
  • A bill to restore the exemption of family farms and small businesses from the definition of assets under title IV of the Higher Education Act of 1965. — Official Title as Introduced

Lobbying

3 clients hired 3 firms and 8 registered lobbyists who named S. 469 in 21 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Agriculture, Taxation/Internal Revenue Code, Transportation, Budget/Appropriations, Energy/Nuclear, Environment/Superfund, Food Industry (safety, labeling, etc.), Immigration.

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
FARM CREDIT COUNCIL—District of Columbia18—
PENNSYLVANIA FARM BUREAU—Pennsylvania17—
FARMERS EDUCATIONAL COOPERATIVE UNION OF AMERICA—District of Columbia16—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
FARM CREDIT COUNCIL18—
PENNSYLVANIA FARM BUREAU17—
FARMERS EDUCATIONAL COOPERATIVE UNION OF AMERICA16—

Lobbyists

Named on the filings that cite the bill.

LobbyistFirmsClientsFilings
JEANETTE MESIROW118
ROBERT BOONE118
TONY WATLINGTON118
BAILEY FISHER (THUMM)117
SKYLAR SOWDER117
AARON SHIER116
LAYLA SOBERANIS116
MICHAEL STRANZ116

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
FARM CREDIT COUNCILFARM CREDIT COUNCIL2026 first_quarter$140K1st Quarter - Amendme…
FARM CREDIT COUNCILFARM CREDIT COUNCIL2026 first_quarter$140K1st Quarter - Report
FARM CREDIT COUNCILFARM CREDIT COUNCIL2025 second_quarter$140K2nd Quarter - Report
FARM CREDIT COUNCILFARM CREDIT COUNCIL2025 first_quarter$140K1st Quarter - Report
FARM CREDIT COUNCILFARM CREDIT COUNCIL2026 second_quarter$110K2nd Quarter - Amendme…
FARM CREDIT COUNCILFARM CREDIT COUNCIL2026 second_quarter$110K2nd Quarter - Report
FARM CREDIT COUNCILFARM CREDIT COUNCIL2025 third_quarter$110K3rd Quarter - Report
FARM CREDIT COUNCILFARM CREDIT COUNCIL2025 fourth_quarter$100K4th Quarter - Report
FARMERS EDUCATIONAL COOPERATIVE UNION OF AMERICAFARMERS EDUCATIONAL COOPERATIVE UNION OF AMERICA2025 fourth_quarter$100K4th Quarter - Report
FARMERS EDUCATIONAL COOPERATIVE UNION OF AMERICAFARMERS EDUCATIONAL COOPERATIVE UNION OF AMERICA2026 first_quarter$90K1st Quarter - Report
FARMERS EDUCATIONAL COOPERATIVE UNION OF AMERICAFARMERS EDUCATIONAL COOPERATIVE UNION OF AMERICA2025 third_quarter$90K3rd Quarter - Report
FARMERS EDUCATIONAL COOPERATIVE UNION OF AMERICAFARMERS EDUCATIONAL COOPERATIVE UNION OF AMERICA2026 second_quarter$80K2nd Quarter - Report
FARMERS EDUCATIONAL COOPERATIVE UNION OF AMERICAFARMERS EDUCATIONAL COOPERATIVE UNION OF AMERICA2025 first_quarter$80K1st Quarter - Report
FARMERS EDUCATIONAL COOPERATIVE UNION OF AMERICAFARMERS EDUCATIONAL COOPERATIVE UNION OF AMERICA2025 second_quarter$60K2nd Quarter - Report
PENNSYLVANIA FARM BUREAUPENNSYLVANIA FARM BUREAU2025 third_quarter$20K3rd Quarter - Report
PENNSYLVANIA FARM BUREAUPENNSYLVANIA FARM BUREAU2025 second_quarter$20K2nd Quarter - Report
PENNSYLVANIA FARM BUREAUPENNSYLVANIA FARM BUREAU2026 first_quarter$10K1st Quarter - Amendme…
PENNSYLVANIA FARM BUREAUPENNSYLVANIA FARM BUREAU2026 first_quarter$10K1st Quarter - Report
PENNSYLVANIA FARM BUREAUPENNSYLVANIA FARM BUREAU2025 fourth_quarter$10K4th Quarter - Report
PENNSYLVANIA FARM BUREAUPENNSYLVANIA FARM BUREAU2025 first_quarter$10K1st Quarter - Amendme…

Classification

The Congressional Research Service files S. 469 under Education, one of its 31 policy areas, and gives it 4 legislative subjects.

CRS Subjects

CRS assigns every bill one policy area from its 31; S. 469’s is Education.

s469/policy-areas.txt
EducationAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEmergency ManagementEnergyEnvironmental ProtectionFamiliesFinance and Financial SectorForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTaxationTransportation and Public WorksWater Resources Development

Legislative Subjects

S. 469 carries 4 of CRS’s legislative subjects, from Government lending and loan guarantees to Student aid and college costs.

s469/subjects.txt
Government lending and loan guaranteesRural conditions and developmentSmall businessStudent aid and college costs

Source: congress.gov · legiscan.com