What is in this article?:
- Young farmers: New bill removes credit, land barriers
- Credit, access to farmland
- Two identical bills remove barriers for beginning farmers and those who wish to pursue a career in agriculture.
Credit, access to farmland
Some of the specific proposals in the bill include:
Expanded Credit Options
The bill would create a new microloan program that would make loans of up to $35,000 to young, beginning, and veteran farmers seeking capital to help cover start-up costs, such as purchasing seeds or building a greenhouse. The bill would also give new farmers increased flexibility in meeting loan eligibility requirements for FSA loans to purchase farmland. Finally, the bill would provide funding to jump start an Individual Development Account pilot program aimed at helping beginning farmers with limited financial resources to establish savings accounts that could later be used to cover capital expenditures for a farm or ranch operation, including purchases of land, buildings, equipment, or livestock.
Access to Farmland
The legislation would help new and aspiring farmers access land to start or expand their farming operations by continuing and improving the successful Down Payment Loan Program, which provides much needed capital to new farmers seeking to purchase property. The bill would also modify the Farm and Ranchland Protection Program to give priority to preserving farmland that is accessible and affordable to new farmers.
New Farmer Training Programs
The bill would renew funding for the successful Beginning Farmer and Rancher Development Program, which provides grants to organizations and institutions to establish new farmer training programs. This program is the only federal initiative that is exclusively dedicated to training the next generation of farmers and ranchers.
This legislation invests in critical economic development programs, including the popular Value-Added Producer Grants program, which provides grants to farmers to scale up their businesses and add value to their products in order to meet surging consumer demand for high quality, farm-based, value-added food products such as farmstead cheese, salsa, and grass-fed beef.
Agricultural Opportunities for Veterans
The bill would also expand resources and create economic opportunities for military veterans interested in pursuing a career in agriculture by establishing a funding priority for new farmer training and agricultural rehabilitation programs specifically geared at returning veterans, and creating a new Veterans Agricultural Liaison within the USDA to help connect returning veterans with beginning farmer resources and assist them with program eligibility requirements for participation in farm bill programs.
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