S. 1618: Precision Agriculture Loan Act of 2025
This bill, titled the Precision Agriculture Loan Act of 2025, aims to amend the existing legislation regarding conservation loans and loan guarantees to include provisions for precision agriculture. Here are the key points of what the bill proposes:
Changes to Loan Program Eligibility
The bill modifies the Consolidated Farm and Rural Development Act by:
- Renaming the title of the relevant section to include both precision agriculture and conservation practices.
- Including precision agriculture as an eligible area for loan and loan guarantee programs.
Specific Additions to the Act
Within the amendments, the following specific changes are proposed:
- Incorporation of language that explicitly states that loans can be used for:
- The adoption of precision agriculture practices.
- The acquisition of precision agriculture technologies.
- Provision for producers who utilize these loans to enhance their participation in related environmental programs.
Administration and Efficiency Enhancements
The bill mandates that the Secretary of Agriculture focus on improving the efficiency of administering these loan programs, which includes:
- Delegating the responsibility of program administration to the Deputy Administrator for Farm Programs within the Farm Service Agency.
- Streamlining the approval processes in coordination with the Natural Resources Conservation Service.
Longer Implementation Timeline
Finally, the bill proposes extending specific timeframes related to these loan programs, changing references from the year 2023 to 2029, reflecting a longer anticipated implementation and adjustment period for the proposed changes.
Relevant Companies
- DE (Deere & Company) - A major player in agricultural machinery that may benefit from increased adoption of precision agriculture technologies.
- AGCO - This company manufactures agricultural equipment and could see growth through enhanced sales related to precision agriculture.
- CF (CF Industries Holdings) - As a supplier of fertilizers, CF might experience a shift in demand as more farmers adopt precision agriculture practices that could affect fertilizer usage.
This is an AI-generated summary of the bill text. There may be mistakes.
Sponsors
2 bill sponsors
Actions
2 actions
| Date | Action |
|---|---|
| May. 06, 2025 | Introduced in Senate |
| May. 06, 2025 | Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. |
Corporate Lobbying
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