3.0.0 831 2023-01-11T13:35:00Z 2023-01-11T13:35:00Z House HR 2017-02-02 115 [Congressional Record Volume 163, Number 18 (Thursday, February 2, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BOST:H.R. 831.Congress has the power to enact this legislation pursuantto the following:Clause 1 of Article Section I of the United StatesConsititution, which provides Congress with the ability toenact legislation necessary and proper to effectuate itspurpose in taxing and spending.[Page H946]]]> hsag00 Agriculture Committee House Standing hsag22 Commodity Markets, Digital Assets, and Rural Development Subcommittee Referred to 2017-02-24T16:34:54Z Referred to 2017-02-02T15:03:35Z 2017-02-24 hsag22 Commodity Markets, Digital Assets, and Rural Development Subcommittee 1 House committee actions Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. Committee 2017-02-02 Referred to the House Committee on Agriculture. IntroReferral H11100 2 House floor actions hsag00 Agriculture Committee 2017-02-02 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-02-02 Introduced in House IntroReferral 1000 9 Library of Congress B001295 Rep. Bost, Mike [R-IL-12] Mike Bost R IL 12 N C001059 Rep. Costa, Jim [D-CA-16] Jim Costa D CA 16 2017-02-02 True M001198 Rep. Marshall, Roger [R-KS-1] Roger Marshall R KS 1 2017-02-02 True K000385 Rep. Kelly, Robin L. [D-IL-2] Robin Kelly D IL L. 2 2017-02-02 True K000362 Rep. King, Steve [R-IA-4] Steve King R IA 4 2017-02-02 True C001108 Rep. Comer, James [R-KY-1] James Comer R KY 1 2017-02-02 True S001200 Rep. Soto, Darren [D-FL-9] Darren Soto D FL 9 2017-02-02 True A000372 Rep. Allen, Rick W. [R-GA-12] Rick Allen R GA W. 12 2017-02-02 True Y000065 Rep. Yoho, Ted S. [R-FL-3] Ted Yoho R FL S. 3 2017-02-03 False H001073 Rep. Hurd, Will [R-TX-23] Will Hurd R TX 23 2017-02-06 False D000619 Rep. Davis, Rodney [R-IL-13] Rodney Davis R IL 13 2017-02-09 False O000171 Rep. O'Halleran, Tom [D-AZ-1] Tom O'Halleran D AZ 1 2017-02-27 False L000585 Rep. LaHood, Darin [R-IL-18] Darin LaHood R IL 18 2017-03-10 False H001059 Rep. Hultgren, Randy [R-IL-14] Randy Hultgren R IL 14 2017-03-13 False N000189 Rep. Newhouse, Dan [R-WA-4] Dan Newhouse R WA 4 2017-06-22 False N000184 Rep. Noem, Kristi L. [R-SD-At Large] Kristi Noem R SD L. 0 2017-07-27 False Agriculture and Food Agricultural conservation and pollution Agricultural prices, subsidies, credit Government lending and loan guarantees Minority and disadvantaged businesses Agriculture and Food 00 2017-02-02 Introduced in House 2017-03-01T22:35:26Z Beginning Agriculturalist Lifetime Employment Act of 2017 or the BALE Act of 2017

This bill amends the Agricultural Act of 1961 to revise the limits for the Department of Agriculture's (USDA's) 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. USDA may not guarantee a loan under the program that exceeds $3.5 million.

The bill also revises the limitations on the amount of farm ownership loans to prohibit USDA from making or insuring any loan that would cause the unpaid indebtedness of any one borrower to exceed the smaller of: (1) the value of the farm or other security; or (2) in the case of a loan other than a loan guaranteed by USDA, $600,000, with an adjustment for inflation beginning with FY2023.

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BALE Act of 2017 Display Title BALE Act of 2017 Official Title as Introduced To amend the Agricultural Act of 1961 to modify the limitations applicable to qualified conservation loan guarantees, and for other purposes. Introduced in House IH Short Titles as Introduced BALE Act of 2017 Short Titles as Introduced Beginning Agriculturalist Lifetime Employment Act of 2017 Introduced in House 2017-02-02T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr831ih/xml/BILLS-115hr831ih.xml 2017-02-24 Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.