598 
section 316(b) of the Higher Education Act of 1965 
(20 U.S.C. 1059c(b)). 
‘‘(21) LOAN
SERVICE
PROGRAM.—The term 
‘loan service program’ means, with respect to a 
farmer program loan borrower, a primary loan serv-
ice program or a homestead retention program. 
‘‘(22) NATURAL OR MAJOR DISASTER OR EMER-
GENCY.—The term ‘natural or major disaster or 
emergency’ means— 
‘‘(A) a disaster due to nonmanmade causes 
declared by the Secretary; or 
‘‘(B) a major disaster or emergency des-
ignated by the President under the Robert T. 
Stafford Disaster Relief and Emergency Assist-
ance Act (42 U.S.C. 5121 et seq.). 
‘‘(23) PRIMARY LOAN SERVICE PROGRAM.—The 
term ‘primary loan service program’ means, with re-
spect to a farmer program loan— 
‘‘(A) loan consolidation, rescheduling, or 
reamortization; 
‘‘(B) interest rate reduction, including the 
use of the limited resource program; 
‘‘(C) loan restructuring, including deferral, 
set aside, or writing down of the principal or 
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accumulated interest charges, or both, of the 
loan; or 
‘‘(D) any combination of actions described 
in subparagraphs (A), (B), and (C). 
‘‘(24) PRIME
FARMLAND.—The term ‘prime 
farmland’ means prime farmland and unique farm-
land (as defined in subsections (a) and (b) of section 
657.5 of title 7, Code of Federal Regulations 
(1980)). 
‘‘(25) PROJECT.—For purposes of section 
3501, the term ‘project’ includes a facility providing 
central service or a facility serving an individual 
property, or both. 
‘‘(26) QUALIFIED
BEGINNING
FARMER.—The 
term ‘qualified beginning farmer’ means an appli-
cant, regardless of whether the applicant is partici-
pating in a program under section 3107, who— 
‘‘(A) is eligible for assistance under sub-
title A; 
‘‘(B) has not operated a farm, or has oper-
ated a farm for not more than 10 years; 
‘‘(C) in the case of a cooperative, corpora-
tion, partnership, or joint operation, has mem-
bers, stockholders, partners, or joint operators 
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who are all related to each other by blood or 
marriage; 
‘‘(D) in the case of a farmer who is the 
owner and operator of a farm— 
‘‘(i) in the case of a loan made to an 
individual, individually or with the imme-
diate family of the applicant— 
‘‘(I) materially and substantially 
participates in the operation of the 
farm; and 
‘‘(II) provides substantial day-to- 
day labor and management of the 
farm, consistent with the practices in 
the State or county in which the farm 
is located; or 
‘‘(ii)(I) in the case of a loan made to 
a cooperative, corporation, partnership, or 
joint operation, has members, stockholders, 
partners, or joint operators who materially 
and substantially participate in the oper-
ation of the farm; and 
‘‘(II) in the case of a loan made to a 
corporation, has stockholders who all qual-
ify individually as beginning farmers; 
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