```

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9795 Introduced in House (IH)]

<DOC>

118th CONGRESS
  2d Session
                                H. R. 9795

 To authorize a pilot program for the making of 90-year, zero interest 
   loans for the purchase of real estate to be used for agricultural 
                        production for 90 years.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                           September 25, 2024

  Ms. Perez introduced the following bill; which was referred to the 
                        Committee on Agriculture

_______________________________________________________________________

                                 A BILL

 
 To authorize a pilot program for the making of 90-year, zero interest 
   loans for the purchase of real estate to be used for agricultural 
                        production for 90 years.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Helping Optimize Markets and 
Encourage Generational Resilience through Ownership, Workmanship, and 
Nurturing Soil Health Act'' or the ``HOMEGROWN Soil Health Act''.

SEC. 2. PILOT PROGRAM OF 90-YEAR, ZERO INTEREST LOANS FOR THE PURCHASE 
              OF REAL ESTATE TO BE USED FOR AGRICULTURAL PRODUCTION FOR 
              90 YEARS.

    (a) In General.--The Secretary of Agriculture (in this section 
referred to as the ``Secretary'') shall--
            (1) conduct a pilot program under which loans are made by 
        the Secretary to eligible farmers for the purchase of eligible 
        cropland; and
            (2) monitor the productivity of eligible cropland purchased 
        pursuant to the pilot program.
    (b) Definitions.--In this section:
            (1) Eligible farmer.--The term ``eligible farmer'' means a 
        farmer who--
                    (A) has participated in the business operations of 
                a farm or ranch for not less than 10 years; or
                    (B) has other acceptable experience, as determined 
                by the Secretary.
            (2) Eligible land.--The term ``eligible cropland''--
                    (A) means private or tribal land on which fruits or 
                vegetables, tree nuts, dried fruits, horticulture, or 
                nursery crops (including floriculture) are grown;
                    (B) includes other land incidental to land 
                described in paragraph (1), if the Secretary determines 
                that including the other land is necessary for the 
                efficient administration of a loan to be made under 
                this section;
                    (C) not more than 2 percent of the surface of which 
                is impervious; and
                    (D) the total area of which does not exceed 160 
                acres.
    (c) Location of Loan Recipients.--The Secretary shall make loans 
under this section to recipients in 5 regions of the United States 
selected by the Secretary, and the loan recipients in each region shall 
all be located within a single radius of 100 miles.
    (d) Zero-Interest Loan.--A loan under this section shall not bear 
interest.
    (e) Loan Term.--A loan under this section shall be repayable during 
a term of 90 years.
    (f) Loan Condition.--As a condition of making a loan under this 
section, the Secretary shall require the borrower to use the cropland 
in a manner described in subsection (b)(2)(A) throughout the 90-year 
period that begins with the date the loan is made, and if that 
condition is violated, to repay the Secretary an amount equal to 101 
percent of the fair market value of the cropland at the time of the 
violation.
    (g) Regulations.--The Secretary may prescribe such regulations as 
are necessary to carry out this section.
    (h) Effective Date.--This Act shall take effect 90 days after the 
date of the enactment of this section.
    (i) Termination.--The authority provided by this section shall 
expire on the date that is 5 years after the effective date of this 
Act.
                                 <all>
```