H.R. 2797 · 116th Congress
BALE Act of 2019
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BostSponsor7 cosponsors · 2 D, 5 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Beginning Agriculturalist Lifetime Employment Act of 2019 or the BALE Act of 201 9
What it does: CRS summary · Introduced in House · May 16, 2019
Beginning Agriculturalist Lifetime Employment Act of 2019 or the BALE Act of 2019
This bill revises the limits for the Department of Agriculture (USDA) conservation loan guarantee program.
The bill replaces the existing 80% limit on the portion of a loan that USDA may guarantee with limits that range from 80%-90%, depending on the principal amount of the loan.
For socially disadvantaged or beginning farmers or ranchers, the bill replaces the existing 90% limit with limits that range from 85%-95%, depending on the principal amount of the loan.
The bill also (1) prohibits USDA from guaranteeing a loan under the program that exceeds $3.5 million, and (2) requires USDA to adjust the limits annually for inflation.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: BALE Act of 2019
Also known as: Beginning Agriculturalist Lifetime Employment Act of 2019
Latest action (Jun 10, 2019): Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Policy area: Agriculture and Food · Origin: House · Introduced: May 16, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.