BALE Act of 2019
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (May 16, 2019)
Beginning Agriculturalist Lifetime Employment Act of 2019 or the BALE Act of 2019
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 $3.5 million, and (2) requires USDA to adjust the limits annually for inflation.
What just happenedJun 10, 2019
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Who’s behind it
- Introduced in HouseMay 16, 2019
- Jun 10, 2019Committee
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Commodity Markets, Digital Assets, and Rural Development Subcommittee - May 16, 2019IntroReferralH11100
Referred to the House Committee on Agriculture.
Agriculture Committee - May 16, 2019IntroReferralIntro-H
Introduced in House
- May 16, 2019IntroReferral1000
Introduced in House