Politiparty
Politiparty

119th Congress Education

H.R. 1131: Family Farm and Small Business Exemption Act

Introduced

  1. Introduced (completed)Feb 7, 2025
  2. Passed House (not reached)
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in House, Feb 7, 2025

This bill restores an exemption for certain family farms and small businesses on the Free Application for Federal Student Aid (FAFSA) form. The bill applies to the net worth of (1) a family farm on which the family resides, or (2) a small business with not more than 100 full-time or full-time equivalent employees that is owned and controlled by the family.

Prior to recent changes made to the FAFSA, the net worth of these family farms and small businesses were excluded as assets when calculating a student's financial need to determine federal student aid eligibility. Beginning with the 2024-2025 academic year, the net worth of these farms and businesses are treated as an asset and therefore included in the calculation. This bill restores the exemption to exclude such net worth from the calculation.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

No roll call votes have been held on this bill.

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

89

Bipartisan support.

Who scored on this bill

18 points earned
  1. 1Tracey Mann R-KS SponsorDrew cross-party cosponsors, reached a cosponsor milestone, introduced4 events+18
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Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by Tracey Mann

History

  1. Feb 7, 2025Introduced in the House by Tracey Mann.
Show the full action history (2 actions)
  1. Feb 7, 2025Introduced in House
  2. Feb 7, 2025Referred to the House Committee on Education and Workforce.