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Health, Education, Labor, and Pensions Committee
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S. 469In committee
Family Farm and Small Business Exemption Act
Introduced: Feb 6, 2025
Latest action date: Feb 6, 2025
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Current stage
In committee
The most advanced recorded stage is committee consideration.
Introduced
Feb 6, 2025
Latest action
Feb 6, 2025
Recorded roll calls
0
Civixly topics
What this legislation is about
Civixly topics make federal and state legislation comparable. They are derived from the official CRS policy area and legislative subjects.
EducationElections & GovernmentLabor & EmploymentBusiness & EconomyAgriculture & Natural ResourcesFamily & Social Services
Official CRS policy area
Education
View 4 official legislative subjects
Government lending and loan guaranteesRural conditions and developmentSmall businessStudent aid and college costs
Bill Summary
Family Farm and Small Business Exemption Act
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.
Committee activity
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Official committee record ↗
Amendments
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No amendments are listed for this measure.
Checked against Congress.gov Sep 13, 2026.
Action timeline
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View full action timeline2 actions
Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
IntroReferralSenateIntroduced in Senate
IntroReferralLibrary of Congress
Roll-call votes
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No connected roll-call votes are currently available for this bill.
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