Senator Jon Husted of Ohio introduced the USDA Loan Modernization Act to update federal loan eligibility rules for family-owned farms, addressing outdated standards that exclude many farms using modern corporate structures like LLCs and partnerships. The bill aims to help Ohio's 76,500 farms access federal assistance and ensure the next generation can continue family farming legacies.
U.S. Sen. Jon Husted introduced legislation Monday aimed at lowering financial barriers for the thousands of family-owned farms across Ohio that are currently locked out of federal assistance due to "outdated" eligibility rules.
The USDA Loan Modernization Act, co-sponsored by Sen. Tommy Tuberville , seeks to update U.S. Department of Agriculture standards to reflect the corporate structures of modern, multi-generational farms. Under current Farm Service Agency rules, loan eligibility often requires a single individual to hold a majority stake and personally manage operations. This frequently disqualifies family farms that use Limited Liability Companies or partnerships to mitigate risk and manage succession planning. “Ninety-five percent of farms in Ohio are family-owned and operated, and they shouldn’t be penalized by outdated rules for securing their families’ and their farms’ future,” Husted said in a statement. “This bill would modernize USDA loan rules so they reflect how family farms operate today.”Ohio is home to approximately 76,500 farms. According to industry advocates, the shift toward legal partnerships is a common tool for protecting assets, but federal policy has failed to keep pace with these business realities.The legislation has garnered immediate backing from major agricultural stakeholders in the state. The Ohio Farm Bureau Federation praised the move, noting that current rules often make taking over a family operation a "financial impossibility" for the next generation. "Young and beginning farmers face a number of challenges in getting started or continuing their family legacy," said Tara Durbin, Chief Lending Officer for Farm Credit Mid-America. "This legislation will provide them with critical tools that will help support the next generation of agriculture."If passed, the act would apply to producers nationwide, though its impact would be felt significantly in Ohio’s robust agricultural sector, where family-run businesses remain the industry's backbone.COLUMBUS, Ohio — The family of Captain Curtis J. Angst, from Wilmington, Ohio -- one of the Ohio Air National Guardsmen killed in a military aircraft accident iPolice in Bucyrus say they may have saved a child’s life after stopping a Marion County Children Services caseworker who was headed to a home visit.A man died after he was struck by an SUV on Columbus' north side late Sunday night.Abduallahi Farah was crossing Cleveland Avenue north of Green Apple Avenue ouIt will stay very windy across the region through tonight as a powerful storm system moves toward the Ohio Valley. In fact, parts of the area are now under a HiGusty winds created dangerous driving conditions in Union County on Friday, including a crash that left two brothers grateful to be alive after a semi toppled o
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Senator Husted introduces legislation to modernize family farm loansU.S. Sen. Jon Husted (R-Ohio) introduced legislation Monday aimed at lowering financial barriers for the thousands of family-owned farms across Ohio that are cu
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