The Protecting American Farmland Act prohibits federal agencies from funding solar energy projects that would convert prime farmland to non-agricultural use, including through direct funding, loans, or loan guarantees. Additionally, the bill eliminates several federal tax credits for solar installations placed on prime farmland, including residential solar credits, renewable electricity production credits, clean electricity production credits, general energy credits, and clean electricity investment credits. These tax credit exclusions apply to solar facilities placed in service after the bill's enactment. The legislation affects solar developers, energy companies, and property owners seeking to install ground-mounted solar systems on high-quality agricultural land, while also impacting federal agencies that support renewable energy projects. The bill aims to preserve productive farmland by removing financial incentives for converting agricultural land to solar energy production.