Heirs Education and Investment to Resolve Succession of Property Act

This bill extends a federal loan program that helps heirs resolve ownership of farmland with multiple owners, moving its end date from 2023 to 2031. It requires the Secretary of Agriculture to make agreements with nonprofit groups to give free legal or accounting help to low-income heirs, members of socially disadvantaged groups, and veterans who share ownership of farmland or forest land. These agreements may last up to 4 years, require annual progress reports, and can be ended if the group does not show success. The bill authorizes $60 million per year for fiscal years 2027 through 2031 for this help, with no more than 3 percent used for administration. It also requires the Secretary to report on the loan program every year and extends reports on farmland ownership data through 2031.

Full text and official record on Congress.gov

Sponsors

• Sanford D. Bishop, Jr. Democrat sponsor
• 2 cosponsors