Farmers of Tomorrow Act

Bill: 115-s-2685
Sponsor: full_name: Sen. Udall, Tom [D-NM]
Introduced: 2018-04-17
Policy area: Agriculture and Food
Subjects: Agricultural education

Farmland

Government lending and loan guarantees
Latest action: action_date: 2018-04-17
text: Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Summaries:
action_date: 2018-04-17
action_desc: Introduced in Senate
text: <p><b>Farmers of Tomorrow Act </b></p> <p>This bill amends the Consolidated Farm and Rural Development Act to expand eligibility for Department of Agriculture (USDA) direct farm ownership loans by modifying the three-year experience requirement. </p> <p>(Under current law, USDA may make a direct farm ownership loan only to a farmer or rancher who has participated in the business operations of a farm or ranch for at least three years or has other acceptable experience.) </p> <p>The bill modifies the experience requirement to specify a list of acceptable experience and educational criteria that USDA may count for an applicant to meet or reduce the necessary experience requirement. </p>

tv_txt: II 115th CONGRESS 2d Session S. 2685 IN THE SENATE OF THE UNITED STATES April 17, 2018 Mr. Udall (for himself and Mr. Inhofe ) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry A BILL To modify certain requirements for farm ownership loan eligibility.

1. Short title This Act may be cited as the Farmers of Tomorrow Act . 2. Modification of the 3-year experience requirement for purposes of eligibility for farm ownership loans (a) In general Section 302(b) of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1922(b) ) is amended— (1) in paragraph (1)— (A) by striking (3) and inserting (5) ; and (B) by inserting (not exceeding 2 years) after period of time ; and (2) by redesignating paragraphs (2) and (3) as paragraphs (4) and (5), respectively, and inserting after paragraph (1) the following: (2) Other acceptable experience In determining whether a farmer or rancher has other acceptable experience under paragraph (1), the Secretary may count any of the following: (A) at least 16 hours of post-secondary education in a field related to agriculture; (B) successful completion of a farm management curriculum offered by the Cooperative Extension Service, a community college, an adult vocational agriculture program, a non-profit organization, or a land grant university; (C) at least 1 year of direct substantive management experience in a business; (D) an honorable discharge from the armed forces of the United States; (E) successful repayment of a youth loan made under section 311(b); (F) at least 1 year as hired farm labor with substantial management responsibilities; (G) successful completion of a farm mentorship, apprenticeship, or internship program with an emphasis on management requirements and day-to-day farm management decisions; (H) an established relationship with an individual participating as a counselor in a Service Corps of Retired Executives program authorized under section 8(b)(1)(B) of the Small Business Act ( 15 U.S.C. 637(b)(1)(B) ), or with a local farm or ranch operator or organization, approved by the Secretary, that is committed to mentoring the farmer or rancher; and (I) successful completion of a military leadership course. (3) Deeming rule For purposes of paragraph (1), a farmer or rancher is deemed to have participated in the business operations of a farm or ranch for not less than 3 years or have other acceptable experience for a period of time, as determined by the Secretary, if the farmer or rancher meets the requirements of subparagraphs (F), (H), and (I) of paragraph (2). . (b) Conforming amendment Section 310D(a)(2) of such Act ( 7 U.S.C. 1934(a)(2) ) is amended by striking paragraphs (2) through (4) of section 302 and inserting subparagraphs (A) through (D) of section 302(a)(1) .