H.R. 4736 · 118th Congress
Investing in Rural America Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
FischbachSponsor22 cosponsors · 11 D, 11 R
D
Caraveo
DD
D
Davis
BF
R
Finstad
NN
D
(Nikki) Budzinski
TM
R
Mann
MM
R
Miller
ES
D
Sorensen
ZZ
R
(Zach) Nunn
AS
D
Salinas
AC
D
Craig
LS
R
Smucker
JT
D
Tokuda
DV
R
Valadao
SB
D
Bishop
KC
R
Cammack
JC
D
Crockett
PS
R
Stauber
JH
D
Harder
DV
R
Van Orden
DT
D
Trone
NL
R
Langworthy
LC
R
Chavez-DeRemer3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill allows Farm Credit System (FCS) institutions to provide financing and technical assistance for essential community facility projects as part of the Department of Agriculture's Community Facilities Direct Loan & Grant Program. (This program provides funding to develop essential community facilities in rural areas.)
What it does: CRS summary · Introduced in House · Jul 19, 2023
Investing in Rural America Act
This bill allows Farm Credit System (FCS) institutions to provide financing and technical assistance for essential community facility projects as part of the Department of Agriculture's Community Facilities Direct Loan & Grant Program. (This program provides funding to develop essential community facilities in rural areas.)
The FCS financing and technical assistance may be provided in order to make capital available to develop, build, maintain, improve, or provide other support for essential community facilities in rural communities (e.g., certain facilities that provide healthcare, community support, public safety, educational, or utility services).
Under the bill, the financing provided by an FCS institution may not exceed 15% of the institution’s total assets unless the FCS institution offers at least one non-FCS lending institution an interest in the financing under reasonable terms and conditions acceptable to the borrower. The FCS institution must also report the offer to the Farm Credit Administration (FCA).
The FCA must submit an annual report to Congress on the activities undertaken by FCS institutions under this bill, including through the partnerships between FCS institutions and other lending institutions. The FCA must post the report on the agency's website.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Investing in Rural America Act
Latest action (Aug 24, 2023): Referred to the Subcommittee on Commodity Markets, Digital Assets, and Rural Development.
Policy area: Agriculture and Food · Origin: House · Introduced: Jul 19, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.