Bills · HR 1131
IN COMMITTEE· 119TH CONGRESS
House BillHR 1131Rural conditions and developmentStudent aid and college costs
Family Farm and Small Business Exemption Act
INTRO FEB 7· LAST ACTION FEB 7
READING
2MIN
COSPONSORS
89
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it directly impacts college affordability for a specific group of students. For families who have significant wealth tied up in a farm or a small business, the current financial aid system might categorize them as wealthier than they feel, making it harder to get financial aid. By excluding these assets from calculations, more students from these backgrounds could become eligible for greater federal assistance, potentially making higher education more accessible and affordable for them.
If this bill becomes law, it could help preserve family farms and small businesses by reducing the financial strain on families who might otherwise need to sell or leverage these assets to pay for college. If it doesn't pass, these families will continue to have their farms and businesses counted as assets, which could limit their children's access to federal financial aid and increase the burden of college costs on the family's enterprise.
KEY PROVISIONS
3AI-extractedPROVISION 01
Excludes the net value of a family farm on which the family resides from being counted as an asset for federal financial aid calculations.
This means students from farming families may qualify for more federal student aid, as the value of their farm home will not reduce their eligibility.
PROVISION 02
Excludes the net value of a family-owned and controlled small business with 100 or fewer full-time equivalent employees from being counted as an asset for federal financial aid calculations.
This allows students from small business-owning families to potentially receive more federal aid, without their business's value limiting their eligibility.
PROVISION 03
Applies these changes to financial need analyses conducted for award years beginning on or after the bill's enactment date.
This ensures the new rules will take effect for future college admissions cycles once the bill is passed into law.
SPONSORSHIP
1 + 89
R· Kansas
YRS IN OFFICE
5
BILLS LED
28
COSPONSOR BREAKDOWNBIPARTISAN · 40%
DEM 18 REP 71 IND 0
ACTION TIMELINE
2 EVENTSFEB 7
Introduced in House
FEB 7
Referred to the House Committee on Education and Workforce.
BILL INFO
TypeHouse Bill
NumberHR 1131
Congress119th
StatusIn Committee
IntroducedFeb 7, 2025
Last actionFeb 7, 2025
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IN COMMITTEE· 119TH CONGRESS · EDUCATION AND WORKFORCE COMMITTEE · INTRODUCED FEB 7, 2025
House BillHR 1131Rural conditions and developmentStudent aid and college costs
Family Farm and Small Business Exemption Act
INTRODUCED FEB 7, 2025· LAST ACTION FEB 7, 2025
PASSAGE CHANCES
—%
READING
2 min
COSPONSORS
89
COMPLEXITY
Moderate
