I 

118TH CONGRESS 

1ST SESSION H. R. 541 

To amend the Agricultural Act of 1961 to modify the limitations applicable 

to qualified conservation loan guarantees, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JANUARY 26, 2023 

Mr. BOST (for himself, Ms. KELLY of Illinois, Mr. NEWHOUSE, Mr. 

WALBERG, and Mr. LAHOOD) introduced the following bill; which was referred to the Committee on Agriculture 

A BILL 

To amend the Agricultural Act of 1961 to modify the limitations applicable to qualified conservation loan guarantees, 

and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Beginning 

5 Agriculturalist Lifetime Employment Act of 2023’’ or the 

6 ‘‘BALE Act of 2023’’. 


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•HR 541 IH

1 SEC. 2. LIMITATIONS APPLICABLE TO QUALIFIED CON2 SERVATION LOAN GUARANTEES. 

3 (a) LIMITATIONS APPLICABLE TO LOAN GUARAN4 TEES.—Section 304(e) of the Agricultural Act of 1961 (7 

5 U.S.C. 1924(e)) is amended to read as follows: 

6 ‘‘(e) LIMITATIONS APPLICABLE TO LOAN GUARAN7 TEES.— 

8 ‘‘(1) PERCENTAGE OF LOAN GUARANTEED.— 

9 The portion of a loan that the Secretary may guar10 antee under this section shall— 

11 ‘‘(A) depend on the principal amount of 

12 the loan; and 

13 ‘‘(B) except as provided in paragraph (2), 

14 may not exceed the percentage specified for 

15 that principal amount in the following table: 

‘‘Principal Amount 

More Than 

Principal Amount 

Equal To Or 

Less Than 

Maximum 

Percent 

$0 ......................................... $3,000,000 ....................................... 90%

$3,000,000 ........................... $3,100,000 ....................................... 89%

$3,100,000 ........................... $3,200,000 ....................................... 88%

$3,200,000 ........................... $3,300,000 ....................................... 87%

$3,300,000 ........................... $3,400,000 ....................................... 86%

$3,400,000 ........................... $3,500,000 ....................................... 85%

$3,500,000 ........................... $3,600,000 ....................................... 84%

$3,600,000 ........................... $3,700,000 ....................................... 83%

$3,700,000 ........................... $3,800,000 ....................................... 82%

$3,800,000 ........................... $3,900,000 ....................................... 81%

$3,900,000 ........................... $4,000,000 ....................................... 80%. 

16 ‘‘(2) EXCEPTION FOR CERTAIN PRODUCERS.— 

17 In the case of a loan to a producer that is a quali18 fied beginning farmer or rancher or a socially dis19 advantaged farmer or rancher (as the term is deVerDate Sep 11 2014 23:18 Feb 08, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H541.IH H541

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•HR 541 IH

1 fined in section 355(e)), the portion of the loan the 

2 Secretary may guarantee under this paragraph may 

3 not exceed the percentage specified for the principal 

4 amount of the loan in the following table: 

‘‘Principal Amount 

More Than 

Principal Amount 

Equal To Or 

Less Than 

Maximum 

Percent 

$0 ......................................... $3,000,000 ....................................... 95%

$3,000,000 ........................... $3,100,000 ....................................... 94%

$3,100,000 ........................... $3,200,000 ....................................... 93%

$3,200,000 ........................... $3,300,000 ....................................... 92%

$3,300,000 ........................... $3,400,000 ....................................... 91%

$3,400,000 ........................... $3,500,000 ....................................... 90%

$3,500,000 ........................... $3,600,000 ....................................... 89%

$3,600,000 ........................... $3,700,000 ....................................... 88%

$3,700,000 ........................... $3,800,000 ....................................... 87%

$3,800,000 ........................... $3,900,000 ....................................... 86%

$3,900,000 ........................... $4,000,000 ....................................... 85%. 

5 ‘‘(3) MAXIMUM AMOUNT.—The Secretary may 

6 not guarantee a loan under this section in an 

7 amount that exceeds $4,000,000. 

8 ‘‘(4) ANNUAL INFLATION ADJUSTMENT.—The 

9 Secretary shall annually adjust the dollar figures 

10 under paragraphs (1), (2), and (3) to reflect the 

11 change in the Prices Paid By Farmers Index (as 

12 compiled by the National Agricultural Statistics 

13 Service of the Department of Agriculture).’’. 

14 (b) APPLICABILITY.—The amendments made by this 

15 section shall apply with respect to qualified conservation 

16 loans entered into by the Secretary of Agriculture under 


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1 section 304 of the Agricultural Act of 1961 (7 U.S.C. 

2 1924) on or after the date of the enactment of this Act. 

Æ 


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