CDFI Fund Transparency Act

Senate Bill

S. 2704

119th Congress

CDFI Fund Transparency Act

In Committee

Introduced:Sep 4, 2025

Primary Sponsor

Steve Daines

Senator

Republican

MT

Cosponsors

4

Quick Stats

Policy Area

Agriculture and Food

Summary

This bill would waive the income limit for farmers, ranchers, and other agricultural workers to receive disaster assistance payments from the U.S. Department of Agriculture. Currently, people with an average annual income above $900,000 are ineligible for these programs, but this bill would remove that restriction if at least 75% of their income comes from agricultural activities.

Latest Action

Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (Sponsor introductory remarks on measure: CR S3766)

SponsorSteve Daines (R-MT)

Introduced9/4/2025

StatusRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

ChamberSenate

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Vote Prediction

CDFI Fund Transparency Act

This bill would waive the income limit for farmers, ranchers, and other agricultural workers to receive disaster assistance payments from the U.S. Department of Agriculture. Currently, people with an average annual income above $900,000 are ineligible for thes

Community Breakdown

Pass

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This bill would waive the income limit for farmers, ranchers, and other agricultural workers to receive disaster assistance payments from the U.S. Department of Agriculture. Currently, people with an average annual income above $900,000 are ineligible for these programs, but this bill would remove that restriction if at least 75% of their income comes from agricultural activities.

Bill Number: 2704
Sponsor: Steve Daines (R-MT)
Introduced: 9/4/2025
Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy Area: Agriculture and Food

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: CDFI Fund Transparency Act
Bill Number: 2704
Sponsor: Steve Daines (R-MT)
Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced: 9/4/2025
Summary: This bill would waive the income limit for farmers, ranchers, and other agricultural workers to receive disaster assistance payments from the U.S. Department of Agriculture. Currently, people with an average annual income above $900,000 are ineligible for these programs, but this bill would remove t

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill would waive the income limit for farmers, ranchers, and other agricultural workers to receive disaster assistance payments from the U.S. Department of Agriculture. Currently, people with an average annual income above $900,000 are ineligible for these programs, but this bill would remove that restriction if at least 75% of their income comes from agricultural activities.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

Fair Access to Agriculture Disaster Programs Act of 2023This bill waives the adjusted gross income limitations for payments or benefits under specific Department of Agriculture (USDA) disaster assistance programs for a person or legal entity that derives a portion of their income from agriculture. (Currently, a person or entity is not eligible to receive certain benefits during a crop, fiscal, or program year if their average gross income exceeds $900,000.)Specifically, in the case of an excepted payment or benefit, the adjusted gross income limitation is waived if 75% or more of the average adjusted gross income for the person or entity is derived from farming, ranching, or silviculture activities. These activities include agritourism, direct-to-consumer marketing of agricultural products, and the sale of agricultural equipment owned by such person or entity.The bill applies to the USDA<ul><li>Livestock Indemnity Program;</li><li>Livestock Forage Disaster Program;</li><li>Emergency Assistance for Livestock, Honey Bees, and Farm-Raised Fish Program;</li><li>Tree Assistance Program; and</li><li>Noninsured Crop Disaster Assistance Program.</li></ul>

Key Points

Main provisions of the bill

Waives the adjusted gross income limit of $900,000 for disaster assistance payments from USDA programs.
Applies to the Livestock Indemnity Program, Livestock Forage Disaster Program, Emergency Assistance for Livestock/Honey Bees/Farm-Raised Fish, Tree Assistance Program, and Noninsured Crop Disaster Assistance Program.
The income limit is waived if 75% or more of a person or entity's income is from farming, ranching, or forestry activities.

How This Impacts Americans

Potential effects on citizens and communities

This bill would make it easier for farmers, ranchers, and other agricultural workers to access disaster assistance from the USDA, even if they have high incomes from their agricultural businesses. This could provide critical support to struggling agricultural producers after natural disasters or other emergencies.

Policy Areas

Primary Policy Area

Agriculture and Food

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

2704, 119th Congress (2025). "CDFI Fund Transparency Act". Source: Voter's Right Platform. https://votersright.org/bills/118-s-2704

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