US HB5781

Amends the Agricultural Credit Act of 1978 to allow state, local, and tribal governments to incur costs for emergency watershed protection measures before entering into formal agreements with the Secretary of Agriculture

Requires the Secretary to identify within 180 days a list of eligible preagreement emergency watershed protection measures and develop a state-level procedure for sponsors to request additional measures for specific natural disasters

Permits preagreement costs incurred by sponsors to count toward their required contribution to the overall project cost when a formal agreement is reached

Sponsors who undertake emergency watershed protection measures before an agreement assume all financial risk if no agreement is subsequently reached with the Secretary

Does not obligate the Secretary to enter into an agreement with any sponsor who has incurred preagreement costs