HR-8198 : Still Just a Bill

The "Heirs Education and Investment to Resolve Succession of Property Act" (H.R. 8198) aims to support and improve the resolution of land ownership and succession issues, particularly on farmland, by:

• Reauthorizing the Heirs Property Intermediary Relending Program: Extends the program through 2028, which provides loans to help resolve ownership issues on farmland.
• Establishing Cooperative Agreements: Allows the Secretary of Agriculture to enter into agreements with eligible non-profit organizations to provide free legal and accounting services to underserved heirs. These services would assist in transitioning land to or maintaining land in agricultural production, and increasing access to programs administered by the Secretary of Agriculture.
• Defining Key Terms: Defines "eligible entity," "limited resource heir," and "underserved heir" to clarify who can benefit from the cooperative agreements.
• Requiring Annual Reports: Mandates the Secretary of Agriculture to prepare and submit annual reports to Congress on the activities carried out under the cooperative agreements.
• Authorizing Appropriations: Authorizes $60,000,000 to be appropriated to the Secretary of Agriculture for each of fiscal years 2024 through 2028 to carry out the cooperative agreements.
• Requiring Annual Reporting on Relending Program: Modifies existing reporting requirements, mandating that the Secretary of Agriculture provides yearly reports on the operation of the Relending Program.
• Extending Land Access and Farmland Ownership Data Collection: Extends the deadline for reports related to land access and farmland ownership data collection through 2028.