H.R. 4156

119 HR 4156 IH: SOIL Act
 U.S. House of Representatives
 2025-06-26
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 EN
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 I  119th CONGRESS  1st Session  H. R. 4156  IN THE HOUSE OF REPRESENTATIVES   June 26, 2025   Mr. Bacon  introduced the following bill; which was referred to the  Committee on Agriculture    A BILL
To establish a pilot program to establish a pre-approval or pre-qualification process for direct farm ownership loans under subtitle A of the Consolidated Farm and Rural Development Act in order to streamline the application process and provide greater certainty to borrowers.
1.
Short title
This Act may be cited as the   Support for Ownership and Investment in Land Act   or the  SOIL Act .
2.
Farmer loan pilot projects
Subtitle D of the Consolidated Farm and Rural Development Act is amended by inserting after section 333D ( 7 U.S.C. 1983d ) the following:
333E.
Prior approval or qualification authorization pilot program
(a)
In general
Beginning not later than 1 year after the date of the enactment of this section, the Secretary shall carry out a pilot program to establish a pre-approval or pre-qualification process for direct farm ownership loans made under subtitle A in order to streamline the application process and provide greater certainty to borrowers.
(b)
Eligibility requirements
(1)
In general
Notwithstanding any other provision of this Act, the Secretary may establish alternative eligibility requirements for direct farm ownership loans under subtitle A that are processed through the pilot program.
(2)
Limitation
Applicants satisfying the alternative eligibility requirements shall remain subject to all other provisions of subtitle A.
(c)
Loan assessments
In carrying out the pilot program, the Secretary shall consider streamlining the determinations under section 360(b).
(d)
Report
Not later than 1 year after the date of the enactment of this section, and annually thereafter, the Secretary shall submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a report examining the actions undertaken under, and the results of, the pilot program.
(e)
Termination of effectiveness
The authority provided by this section shall terminate effective September 30, 2030.
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