H.R. 7206: Farm and Family Relief Act

The Farm and Family Relief Act aims to provide financial support to agricultural producers impacted by various economic challenges. It includes several key provisions that affect both families and agricultural producers.

Economic Assistance for Families

This section postpones the implementation of certain cost-shifting measures in the Food and Nutrition Act of 2008. Specifically, it defers changes related to benefit costs and administrative costs from 2026 to 2029, thereby maintaining the current support levels for families receiving assistance for a longer period.

Economic Assistance for Producers of Eligible Commodities

The bill establishes a one-time economic assistance payment for producers of specific crops, such as wheat, corn, and soybeans. This payment applies to the 2025 crop year if the gross return per acre is projected to be less than the cost of production per acre. The Secretary of Agriculture will assess these figures and provide payments within a set timeframe.

• The payment amount will be based on the difference between expected production costs and gross returns, covering various eligible crops.
• Limitations on the total payment to farmers are set at $125,000 for those with less farming income and $250,000 for those whose primary income comes from farming.

Economic Assistance for Sugar Beet Producers

Specific provisions are made for sugar beet producers through block grants to cooperatives, which can then distribute payments to members facing economic losses during the 2025 crop year. This is aimed at providing targeted relief to a particular sector within the agricultural community.

Economic Assistance for Specialty Crops

The act mandates the Secretary to create a program that assists producers of specialty crops in expanding domestic markets or developing new markets. Eligible producers can apply for a one-time payment based on their sales of specialty crops from the previous year while new producers can base it on estimated future sales.

Financial Assistance for Qualified Timber Losses

A program shall be set up to aid entities involved in timber production through one-time payments for losses suffered in 2025 due to adverse market conditions. This includes loans and grants to help these entities recover and re-establish their operations.

Office of Technology Transfer

The bill establishes an Office of Technology Transfer within the Forest Service, aimed at enhancing the commercialization of research conducted by the agency. This includes the appointment of a Chief Commercialization Officer, who will oversee technology transfer activities, promote commercialization, and work to patent inventions developed from forest research.

General Provisions

The bill is designated as an emergency requirement, allowing it to be enacted quickly, and defines the Secretary of Agriculture as the key figure responsible for implementing these provisions.

Termination of Certain Executive Orders

Upon enactment of this bill, specific Executive Orders imposing tariffs will no longer be effective, which may impact trade dynamics in the agricultural sector.

Funding

Funding allocations are specified for various programs established under this act, including significant appropriations for crops, sugar beets, specialty crops, and timber losses, totaling billions of dollars over multiple fiscal years.

Relevant Companies

• CORN - Teucrium Corn Fund: a fund that may see fluctuations based on the agricultural pricing and yield of corn.
• SOYB - Teucrium Soybean Fund: impact from changes to soybean prices and production cost projections.
• WHEAT - Teucrium Wheat Fund: similarly affected by wheat price dynamics and production costs under the provisions of this bill.