S. 3602 · 116th Congress
Relief for America's Small Farmers Act
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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.
D
GillibrandSponsor4 cosponsors · 3 D, 1 I
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill provides loan forgiveness of up to $250,000 for certain borrowers who are actively engaged in farming, have an average annual adjusted gross income of $300,000 or less over the previous five years, and have certain Department of Agriculture farm loans.
What it does: CRS summary · Introduced in Senate · May 5, 2020
Relief for America's Small Farmers Act
This bill provides loan forgiveness of up to $250,000 for certain borrowers who are actively engaged in farming, have an average annual adjusted gross income of $300,000 or less over the previous five years, and have certain Department of Agriculture farm loans.
The loan forgiveness is subject to the condition that the applicable borrower must continue to be actively engaged in farming for at least two years after receiving such forgiveness.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Relief for America's Small Farmers Act
Latest action (May 5, 2020): Read twice and referred to the Committee on Finance.
Policy area: Agriculture and Food · Origin: Senate · Introduced: May 5, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.