HB 1012
House·20th Congress·Filed Jul 1, 2025
An Act to Prohibit Usurious Lending to Farmers, Appropriating Funds Therefor and for Other Purposes
In plain language
The bill proposes to cap interest on small‑holder farmer loans at 6% per year, retroactively adjust existing loans to that rate, require the central bank to set loan‑allocation targets for banks, and impose fines and jail time on lenders who charge higher rates.
Agriculture and FisheriesConsumer Protection
Automated summary by BatasWatch. It may miss nuance — read the bill text before citing it.
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Official sources
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HB01012 · Sources: BetterGov Open Congress, BatasWatch