SOIL Act
The SOIL Act (HR 8448) establishes a pilot program to create a pre-approval process for direct farm ownership loans under existing law, aiming to streamline applications and provide greater certainty for borrowers. It allows the Farm Service Agency to set eligibility requirements for these loans while maintaining current borrowing rules. The program runs until September 30, 2029, and requires annual reports to Congress on its implementation and results. This directly affects farmers seeking to purchase land through USDA-owned farm ownership loans.
Bill status
in committee
1 of 4 stages cleared
Introduction
May 2024
Committee Review
Floor Vote
President
Introduced May 17, 2024
Last action Sep 3, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
2
Sep 3, 2024
House · Referred to committee
Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.
May 17, 2024
House · Referred to committee
Referred to the House Committee on Agriculture.
May 17, 2024
House · Introduced
Introduced in House
1 primary · 2 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Don Bacon
RRepublican
Co
Josh Gottheimer
DDemocratic
Co
Zachary Nunn
RRepublican
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