Farm Transitions Act of 2024

This bill amends the 2018 Agriculture Improvement Act to establish the Farm Transitions Commission under the new "Farm Transitions Act of 2024." It requires the Secretary to create the Commission within 60 days of this bill's enactment and expands its study to include heirs' property, barriers to transferring agricultural assets, leasing trends (including by foreign entities), and barriers faced by farmers. The Commission must report findings within two years, focusing on how tax policies, business training, and land succession affect farm transitions. This directly affects farmers, ranchers, and rural landowners by directing a formal review of challenges in passing farms to new generations.