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Young Farmer Success Act

1/11/2024, 8:30 AM

Summary of Bill HR 2728

The Young Farmer Success Act, also known as Bill 118 hr 2728, is a piece of legislation introduced in the US Congress aimed at supporting and encouraging young farmers in the United States. The bill seeks to address the challenges faced by young farmers, such as access to land, capital, and resources, by providing them with financial assistance and resources to help them succeed in the agricultural industry.

One of the key provisions of the Young Farmer Success Act is the establishment of a Young Farmer Grant Program, which would provide grants to young farmers to help them purchase land, equipment, and other resources necessary to start or expand their farming operations. The bill also includes provisions to increase access to credit for young farmers, as well as support for training and education programs to help them develop the skills and knowledge needed to succeed in the industry.

Additionally, the Young Farmer Success Act aims to promote sustainable farming practices and conservation efforts among young farmers, by providing incentives for environmentally-friendly farming practices and conservation measures. The bill also includes provisions to support minority and socially disadvantaged young farmers, ensuring that all young farmers have access to the resources and support they need to succeed. Overall, the Young Farmer Success Act is a comprehensive piece of legislation aimed at supporting and empowering young farmers in the United States, helping them overcome the challenges they face and succeed in the agricultural industry.

Congressional Summary of HR 2728

Young Farmer Success Act

This bill makes certain farmers or ranchers eligible for student loan forgiveness under the Public Service Loan Forgiveness (PSLF) program.

Under the PSLF program, the Department of Education must cancel the balance of interest and principal due on a borrower's Federal Direct Loans after the borrower makes 120 monthly loan payments while employed in a public service job. This bill broadens the definition of public service job to include a full-time job engaged in farm work as an employee or manager of a qualified farm or ranch.

Current Status of Bill HR 2728

Bill HR 2728 is currently in the status of Bill Introduced since April 19, 2023. Bill HR 2728 was introduced during Congress 118 and was introduced to the House on April 19, 2023.  Bill HR 2728's most recent activity was Referred to the House Committee on Education and the Workforce. as of April 19, 2023

Bipartisan Support of Bill HR 2728

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
34
Democrat Cosponsors
30
Republican Cosponsors
4
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 2728

Primary Policy Focus

Education

Alternate Title(s) of Bill HR 2728

Young Farmer Success Act
Young Farmer Success Act
To amend the Higher Education Act of 1965 to include certain individuals who work on farms or ranches as individuals who are employed in public service jobs for purposes of eligibility for loan forgiveness under the Federal Direct Loan program.

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