To permanently reenact chapter 12 of title 11 of the United States Code, relating to family farmers.
Summary
This bill would make Chapter 12 of the federal bankruptcy code a permanent part of the law, providing a stable debt-relief option specifically designed for family farmers. Unlike other forms of bankruptcy, Chapter 12 allows farmers to keep their land and equipment while they follow a three-to-five-year plan to repay their debts. By making this temporary program permanent, the bill aims to give agricultural families a more predictable and affordable way to reorganize their finances during economic downturns without the risk of losing their livelihoods.
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