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[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1246 Introduced in House (IH)]
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119th CONGRESS
1st Session
H. R. 1246
To amend the Farm Credit Act of 1971 to provide support for facilities
providing healthcare, education, child care, public safety, and other
vital services in rural areas.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 12, 2025
Mrs. Fischbach (for herself, Mr. Finstad, and Mr. Davis of North
Carolina) introduced the following bill; which was referred to the
Committee on Agriculture
_______________________________________________________________________
A BILL
To amend the Farm Credit Act of 1971 to provide support for facilities
providing healthcare, education, child care, public safety, and other
vital services in rural areas.
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 ``Investing in Rural America Act of
2025''.
SEC. 2. AUTHORITY OF FARM CREDIT SYSTEM INSTITUTIONS TO PROVIDE
FINANCIAL SUPPORT FOR ESSENTIAL RURAL COMMUNITY
FACILITIES PROJECTS.
(a) In General.--The Farm Credit Act of 1971 is amended by
inserting after section 4.18A (12 U.S.C. 2206a) the following:
``SEC. 4.18. ESSENTIAL COMMUNITY FACILITIES.
``(a) In General.--A Farm Credit Bank, direct lender association,
or bank for cooperatives chartered under this Act may, for the purpose
of making available capital to develop, build, maintain, improve, or
provide related equipment or other support for essential community
facilities in rural areas, make and participate in loans and
commitments, and extend other technical and financial assistance for
projects for essential community facilities eligible for financing
under section 306(a) of the Consolidated Farm and Rural Development
Act.
``(b) Eligibility.--Only an entity eligible for financing under
section 306(a) of the Consolidated Farm and Rural Development Act may
receive financing or any other assistance under subsection (a) of this
section.
``(c) Limitations.--
``(1) Financing.--A Farm Credit System institution
described in subsection (a) shall not provide financing or
assistance under this section in an aggregate amount that
exceeds 15 percent of the total of all outstanding loans of the
institution.
``(2) Offer requirement.--
``(A) In general.--A Farm Credit System institution
shall not provide financing or assistance under this
section unless the institution--
``(i) has offered, under reasonable terms
and conditions acceptable to the borrower
involved, an interest in the financing to at
least 1 domestic lending institution not
referred to in subsection (a) other than the
Department of Agriculture; and
``(ii) has reported the offer to the Farm
Credit Administration.
``(B) Rural community bank priority.--In offering
an interest in a financing to a domestic lending
institution described in subparagraph (A)(i), the Farm
Credit System institution shall give priority to
community banks located in the service area of the
essential community facility being financed.
``(d) Annual Report to Congress.--Within 1 year after the date of
the enactment of this section and annually thereafter, the Farm Credit
Administration shall provide a report to the Committee on Agriculture
of the House of Representatives and the Committee on Agriculture,
Nutrition, and Forestry of the Senate on the activities undertaken
pursuant to this section by Farm Credit System institutions during the
period covered by the report, including through partnerships between
such an institution and other lending institutions, which shall also be
posted on the website of the Farm Credit Administration.''.
(b) Effective Date.--The amendment made by subsection (a) shall
take effect on October 1, 2025.
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