BALE Act of 2019

[AI summary unavailable — showing source text] Beginning Agriculturalist Lifetime Employment Act of 2019 or the BALE Act of 201 9 This bill revises the limits for the Department of Agriculture (USDA) conservation loan guarantee program. The bill replaces the existing 80% limit on the portion of a loan that USDA may guarantee with limits that range from 80%-90%, depending on the principal amount of the loan. For socially disadvantaged or beginning farmers or ranchers, the bill replaces the existing 90% limit with limits that range from 85%-95%, depending on the principal amount of the loan. The bill also (1) prohibits USDA from guaranteeing a loan under the program that exceeds $3.5 million, and (2) requires USDA to adjust the limits annually for inflation.…