US HB1246

Amends the Farm Credit Act of 1971 to authorize Farm Credit Banks, direct lender associations, and banks for cooperatives to provide loans, financing, and technical assistance for essential community facilities in rural areas, including healthcare, education, child care, and public safety facilities.

Limits financing under this section to no more than 15% of a Farm Credit System institution's total outstanding loans.

Requires Farm Credit System institutions to first offer financing participation to at least one domestic lending institution (excluding USDA), with priority given to community banks located in the service area of the facility being financed.

Mandates annual reporting by the Farm Credit Administration to the House and Senate Agriculture Committees on activities conducted under this section, with reports also posted publicly on the agency's website.

Takes effect on October 1, 2025.