United States 119th Congress Status: In Committee Bipartisan · 11 R · 2 D cosponsors

S 469 — Family Farm and Small Business Exemption Act

Last action — Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced February 06, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Advancing 42% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 13 sponsors

    1 primary, 12 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 2 parties (11 R · 2 D) — cross-party backing.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

The bill restores an exemption for family farms and small businesses on the FAFSA form.

This bill reinstates an exemption that excludes the net worth of certain family farms and small businesses from federal student aid calculations. It applies to farms where the family resides and small businesses with fewer than 100 employees, effective for aid from the 2024-2025 academic year.

What this means for you
  • Families: This bill means families with small businesses or farms could improve their eligibility for federal student aid.

Summary

Family Farm and Small Business Exemption ActThis 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.

Bill Text

How this bill changes current law

3 changes Share ↗

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill restores the exemption of family farms and small businesses from being considered assets under the Higher Education Act of 1965.

  • 20 U.S.C. 1087vv(f)(2)

    net value of the → net value of-- (A) the

    This change modifies the definition of assets to include specific types of properties.

  • 20 U.S.C. 1087vv(f)(2)

    . → ;

    This change alters punctuation to extend the definition of assets.

  • 20 U.S.C. 1087vv(f)(2)

    (B) a family farm on which the family resides; or (C) a small business with not more than 100 full-time or full-time equivalent employees (or any part of such a small business) that is owned and controlled by the family.

    This addition explicitly exempts family farms and small businesses from the assets definition under the Higher Education Act.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

Sponsors

Sponsorship breakdown

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1 sponsors · 12 co-sponsors · 534 not signed on

Sponsors (1)

Co-sponsors (12)

Not signed on (534)

534 members have not signed on to this bill.

Show all 534 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance education agriculture
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Frequently asked questions

What does S 469 do?
Family Farm and Small Business Exemption ActThis 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.
Who sponsors S 469?
S 469 is sponsored by Ernst, Joni (Republican), Bennet, Michael F. (Democratic), Grassley, Chuck (Republican), Marshall, Roger (Republican), Justice, James C. (Republican), Moran, Jerry (Republican), Hoeven, John (Republican), Rounds, Mike (Republican), Boozman, John (Republican), Tillis, Thomas (Republican), Ricketts, Pete (Republican), Tuberville, Tommy (Republican), and Gallego, Ruben (Democratic).
What is the current status of S 469?
This bill is in committee in the Senate. Introduced February 06, 2025. It must pass committee before a floor vote.
Where can I track S 469?
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