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HR 1131
Introduced Re-checks Congress.gov for new actions and updates the bill's status, and fills in any sponsors, committees, or related bills that are missing. It does not re-pull sponsors/cosponsors/committees/related — those rarely change — and it skips all work if nothing has changed upstream, so it's cheap to click.

Family Farm and Small Business Exemption Act

To restore the exemption of family farms and small businesses from the definition of assets under title IV of the Higher Education Act of 1965.

Introduced Feb 7, 2025

Latest action (Feb 7, 2025) Referred to the House Committee on Education and Workforce.

Referred to
Education and Workforce Committee
Policy area
Education
Issues
Economy & Taxes
Legislative subjects (4)
Government lending and loan guaranteesRural conditions and developmentSmall businessStudent aid and college costs

Summary

The bill would amend federal student aid law to exclude family farms and small businesses from the definition of assets used to determine financial aid eligibility. Specifically, it would exempt a family farm on which the family resides and small businesses with no more than 100 full-time or equivalent employees that are owned and controlled by the family from being counted as assets in the financial aid needs analysis. The exemption would apply to federal student aid award years beginning on or after the date of enactment.

AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.

Sponsor (1)
89 cosponsors

Money behind the sponsor

Top reported contributors to Tracey Mann’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.

  • WINTER LIVESTOCK $13,200
  • ICM INC. $8,300
  • SILVER COMPANIES $7,220
  • EQUITY BANK $6,850
  • CROSSLAND CONSTRUCTION COMPANY $6,600

Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Tracey Mann → · Outside spending →

Actions (2)
  1. Feb 7, 2025 Referred to the House Committee on Education and Workforce. · house
  2. Feb 7, 2025 Introduced in House

More bills on these subjects (8)

Other bills that carry the most legislative subjects in common with this one (topical discovery — distinct from the procedural related bills above).

  • S 469 — Family Farm and Small Business Exemption Act (shares 4 subjects)
  • HR 191 — Inflation Reduction Act of 2025 (shares 4 subjects)
  • S 1380 — SPARC Act (shares 3 subjects)
  • HR 7006 — Financial Services and General Government and National Security, Department of State, and Related Programs Appropriations Act, 2026 (shares 3 subjects)
  • HR 5304 — Departments of Labor, Health and Human Services, and Education, and Related Agencies Appropriations Act, 2026 (shares 3 subjects)
  • HR 5166 — Financial Services and General Government Appropriations Act, 2026 (shares 3 subjects)
  • HR 4681 — SPARC Act (shares 3 subjects)
  • HR 1127 — Rural America Health Corps Act (shares 3 subjects)

Similar bills (6)

Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.

  • S 469 — Family Farm and Small Business Exemption Act · Introduced Feb 6, 2025 · Cong. 119 82%
  • HR 8591 — No Capital Gains Tax on Family Farms Act · Introduced Apr 30, 2026 · Cong. 119 67%
  • HRES 206 — Recognizing the importance of stepped-up basis under section 1014 of the Internal Revenue Code of 1986 in preserving family-owned farms and small businesses. · Introduced Mar 10, 2025 · Cong. 119 66%
  • HR 1629 — Farmland Security Act of 2025 · Introduced Feb 26, 2025 · Cong. 119 66%
  • HR 1991 — Producer and Agricultural Credit Enhancement Act of 2025 · Introduced Apr 4, 2025 · Cong. 119 66%
  • HR 240 — Protect Local Farms Act · Introduced Jan 7, 2025 · Cong. 119 65%

Text versions (1)
  • Introduced in House · Feb 7, 2025

Only one text version is on file, so there’s no earlier version to compare against yet.

Full text

IN THE HOUSE OF REPRESENTATIVES

February 7, 2025

Mr. Mann (for himself, Mr. Panetta, Mr. Thompson of Pennsylvania, Ms. Craig, Mr. Davis of North Carolina, Mr. Meuser, Mr. Ellzey, Ms. Hageman, Mr. Sorensen, Mr. Finstad, Mr. Fleischmann, Mr. Graves, Mr. Cline, Mrs. Hinson, Mr. Bost, Mr. Costa, Ms. Tenney, Mr. Austin Scott of Georgia, Mr. DesJarlais, Mr. Edwards, Mr. Grothman, Ms. Maloy, Ms. Tokuda, Mr. Bergman, Mr. Van Orden, Mr. Scott Franklin of Florida, Mr. Zinke, Mr. Smith of Nebraska, Mr. Schmidt, Mr. Moolenaar, Mr. Smith of Missouri, Ms. Perez, Mr. Rouzer, Mrs. Miller of Illinois, Mr. LaHood, Mr. Messmer, Mr. Fallon, Mr. Bacon, Mr. Webster of Florida, Mr. Nunn of Iowa, Mr. Fitzgerald, Mr. Newhouse, Mr. Valadao, Mr. Guest, Mr. Self, Mr. Hudson, Mr. Fong, Mr. Downing, Mrs. Miller-Meeks, Mr. Moore of Alabama, Mr. Evans of Colorado, Mr. Feenstra, Ms. McDonald Rivet, Mr. Flood, Mr. Lawler, Mr. Fitzpatrick, Ms. Scholten, Mr. Joyce of Pennsylvania, Mr. Lucas, Mr. McCaul, Mr. Kelly of Pennsylvania, Ms. Salinas, Mr. LaMalfa, Mr. Cisneros, Mr. Kelly of Mississippi, Mr. Ezell, Mr. Wittman, Mr. Deluzio, Mr. Cole, Mr. Kustoff, Mr. Baird, Mr. Jackson of Texas, Mr. LaLota, Mr. Carter of Louisiana, Mr. Collins, Mr. Balderson, Mr. Bilirakis, Mrs. Fischbach, Mr. Ciscomani, and Mr. Owens) introduced the following bill; which was referred to the Committee on Education and Workforce

A BILL

To restore the exemption of family farms and small businesses from the definition of assets under title IV of the Higher Education Act of 1965.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the “Family Farm and Small Business Exemption Act”.

SEC. 2. EXEMPTING FAMILY FARMS AND SMALL BUSINESSES FROM ASSETS UNDER THE HIGHER EDUCATION ACT OF 1965.

(a) In General.—Section 480(f)(2) of the Higher Education Act of 1965 (20 U.S.C. 1087vv) is amended—

(1) by striking “net value of the” and inserting the following: “net value of—

“(A) the”;

(2) by striking the period at the end and inserting a semicolon; and

(3) by adding at the end the following:

“(B) a family farm on which the family resides; or

“(C) a small business with not more than 100 full- time or full-time equivalent employees (or any part of such a small business) that is owned and controlled by the family.”.

(b) Applicability.—The amendments made by subsection (a) shall apply to need analysis conducted under part F of title IV of the Higher Education Act of 1965 (20 U.S.C. 1087kk et seq.) for award years beginning on or after the date of the enactment of this Act. <all>

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