H.R. 6683 · 116th Congress
Relief for America's Small Farmers Act
- Stage
- In committee
- Sponsor
- Sean Maloney
- Introduced
- 2020-05-01
- Latest action
- 2020-08-13 · Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Summary
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.