Support for Ownership and Investment in Land Act

The SOIL Act (Support for Ownership and Investment in Land Act) would create a time-limited pilot program within the USDA to establish a pre-approval or pre-qualification process for direct farm ownership loans under subtitle A of the Consolidated Farm and Rural Development Act. The goal is to streamline the loan application process and give borrowers greater certainty about whether they qualify. The pilot would allow alternative eligibility rules for loans processed under it, while keeping all other subtitle A provisions in force for those loans. The Secretary would report to Congress annually on the pilot’s actions and results, and the authority would sunset on September 30, 2030.