House Bill 2186
117th Congress(2021-2022)
BALE Act of 2021
Introduced
Introduced in House on Mar 26, 2021
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2186
Congress
117
Policy Area
Agriculture and Food
Agriculture and Food
Primary focus of measure is agricultural practices; agricultural prices and marketing; agricultural education; food assistance or nutrition programs; food industry, supply, and safety; aquaculture; horticulture and plants. Measures concerning international trade in agricultural products may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
Beginning Agriculturalist Lifetime Employment Act of 2021 or the BALE Act of 2021
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 $4 million, and (2) requires USDA to adjust the limits annually for inflation.
March 26, 2021
06/15/2021
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
03/26/2021
Referred to the House Committee on Agriculture.
03/26/2021
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:48:02 PM