April 23, 2026
Mr. Bacon introduced the following bill; which was referred to the Committee on Agriculture
To establish a pilot program for an expedited qualification and approval process for direct farm ownership loans, and for guaranteed farm ownership loans serviced by a Preferred Certified Lender, at the Department of Agriculture.
Section 1. Short title
This Act may be cited as the Support for Ownership and Investment in Land Act of 2026
.
Sec. 2. Expedited approval pilot program
(a) In general
Subtitle D of the Consolidated Farm and Rural Development Act is amended by inserting after section 333D (7 U.S.C. 1983d) the following:
333E. Expedited approval pilot program
(a) In general
Not later than 1 year after the date of enactment of this section, the Secretary shall carry out a pilot program to establish an expedited qualification and approval process for borrowers seeking—
(1)
a direct farm ownership loan under this Act; or
(2)
a guaranteed farm ownership loan under this Act that is serviced by a Preferred Certified Lender under section 339(d) and provided to a creditworthy borrower, as determined by the Preferred Certified Lender.
(b) Loan assessments
In carrying out this section, the Secretary shall consider streamlining the process for making—
(1)
determinations necessary to make the certifications and assessments referred to in section 339(c)(5); and
(2)
determinations under section 360(b).
(c) Rule of interpretation
Except as otherwise provided in subsections (a) and (b), this section shall not be interpreted to authorize the waiver or modification of any requirement, other than an application process timing requirement, imposed by or under this Act.
(d) Report
Not later than 1 year after the date of enactment of this section, and annually thereafter, the Secretary shall submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a report examining the actions undertaken under, and the results of, the pilot program.
(e) Termination of effectiveness
The authority provided by this section shall terminate effective September 30, 2031.
(b) Conforming amendments
Section 346(b)(2) of such Act (7 U.S.C. 1994(b)(2)) is amended—
(1)
in subparagraph (A)(i)(II), by inserting , to the extent practicable
after April 1 of the fiscal year
;
(2)
in subparagraph (A)(iii), by inserting , to the extent practicable
after September 1 of the fiscal year
; and
(3)
in subparagraph (B)(iii), by inserting , to the extent practicable
after April 1 of the fiscal year
.