[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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