H.R. 8472

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8472 Introduced in House (IH)]

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119th CONGRESS
2d Session
H. R. 8472

To establish a pilot program for an expedited qualification and 
approval process for direct farm ownership loans, and for guaranteed 
farm ownership loans serviced by a Preferred Certified Lender, at the 
Department of Agriculture.

_______________________________________________________________________

IN THE HOUSE OF REPRESENTATIVES

April 23, 2026

Mr. Bacon introduced the following bill; which was referred to the 
Committee on Agriculture

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A BILL

To establish a pilot program for an expedited qualification and 
approval process for direct farm ownership loans, and for guaranteed 
farm ownership loans serviced by a Preferred Certified Lender, at the 
Department of Agriculture.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Support for Ownership and Investment 
in Land Act of 2026''.

SEC. 2. EXPEDITED APPROVAL PILOT PROGRAM.

(a) In General.--Subtitle D of the Consolidated Farm and Rural 
Development Act is amended by inserting after section 333D (7 U.S.C. 
1983d) the following:

``SEC. 333E. EXPEDITED APPROVAL PILOT PROGRAM.

``(a) In General.--Not later than 1 year after the date of 
enactment of this section, the Secretary shall carry out a pilot 
program to establish an expedited qualification and approval process 
for borrowers seeking--
``(1) a direct farm ownership loan under this Act; or
``(2) a guaranteed farm ownership loan under this Act that 
is serviced by a Preferred Certified Lender under section 
339(d) and provided to a creditworthy borrower, as determined 
by the Preferred Certified Lender.
``(b) Loan Assessments.--In carrying out this section, the 
Secretary shall consider streamlining the process for making--
``(1) determinations necessary to make the certifications 
and assessments referred to in section 339(c)(5); and
``(2) determinations under section 360(b).
``(c) Rule of Interpretation.--Except as otherwise provided in 
subsections (a) and (b), this section shall not be interpreted to 
authorize the waiver or modification of any requirement, other than an 
application process timing requirement, imposed by or under this Act.
``(d) Report.--Not later than 1 year after the date of 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, 2031.''.
(b) Conforming Amendments.--Section 346(b)(2) of such Act (7 U.S.C. 
1994(b)(2)) is amended--
(1) in subparagraph (A)(i)(II), by inserting ``, to the 
extent practicable'' after ``April 1 of the fiscal year'';
(2) in subparagraph (A)(iii), by inserting ``, to the 
extent practicable'' after ``September 1 of the fiscal year''; 
and
(3) in subparagraph (B)(iii), by inserting ``, to the 
extent practicable'' after ``April 1 of the fiscal year''.
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