HOMEGROWN Soil Health Act Helping Optimize Markets and Encourage Generational Resilience through Ownership, Workmanship, and Nurturing Soil Health Act
Impact
The bill is designed to significantly impact the agriculture sector by making land acquisition more accessible for seasoned farmers. Eligible farmers, defined as those with at least a decade of experience or acceptable alternative qualifications, will benefit from these loans. The Secretary of Agriculture will oversee the program, which will require the purchase of 'eligible cropland' with specific conditions related to land use and productivity monitoring. By ensuring that the land is utilized for agricultural purposes throughout the loan period, the bill addresses both agricultural sustainability and economic viability in farming.
Summary
House Bill 9795, titled the 'HOMEGROWN Soil Health Act', aims to introduce a pilot program that facilitates the issuance of 90-year, zero-interest loans specifically for the purchase of agricultural real estate. The primary objective of the bill is to promote sustainable agricultural practices and encourage long-term investments in farmland. By offering these loans, the bill seeks to support farmers in acquiring land that is essential for agricultural production while fostering soil health and resilience among generations of farmers.
Contention
Despite its objectives, the bill may face contention regarding its implementation and potential limitations for non-eligible farmers or those without adequate experience. Critics may argue that the stringent requirements for eligibility and the regional limitations on loan distribution could restrict access to much-needed resources for newer or small-scale farmers. Additionally, concerns may arise about the long-term impacts of such a lengthy loan term on future land management practices and the responsibility of borrowers in maintaining compliance with the loan conditions.
Reforms the organizational structure for the Department of Transportation and Development including its duties, powers, and responsibilities of officers and employees (EN INCREASE SD EX See Note)