HR 1246 · 119th CongressIn Committeecongress.gov ↗
What this bill does
AI plain-language summaryThis bill lets Farm Credit System institutions make loans and provide other financial help for essential community facilities in rural areas through a Department of Agriculture program. These facilities include places that provide healthcare, education, public safety, and utility services. The Farm Credit System institutions can only use up to 15% of their total outstanding loans for this purpose. They must also offer to share these loans with at least one non-Farm Credit System lender and report this to the Farm Credit Administration, which will then provide annual reports to Congress about these activities.
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