[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5065 Referred in Senate (RFS)]

103d CONGRESS
  2d Session
                                H. R. 5065


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                  IN THE SENATE OF THE UNITED STATES 

           September 30 (legislative day, September 12), 1994

                                Received

            October 8 (legislative day, September 12), 1994

Read twice and referred to the Committee on Agriculture, Nutrition, and 
                                Forestry

_______________________________________________________________________

                                 AN ACT


 
   To amend the Consolidated Farm and Rural Development Act to make 
   technical corrections to certain provisions relating to beginning 
                         farmers and ranchers.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Beginning Farmer Technical 
Corrections Act of 1994''.

SEC. 2. LAND OWNERSHIP LIMITATION MADE INAPPLICABLE TO OPERATING LOANS.

    Section 343(a)(11) of the Consolidated Farm and Rural Development 
Act (7 U.S.C. 1991(a)(11)) is amended by adding after and below the end 
the following:
        ``As used in subtitle B, the term `qualified beginning farmer 
        or rancher' shall have the meaning given in the preceding 
        sentence without regard to subparagraph (F).''.

SEC. 3. GRADUATION OF BORROWERS WITHOUT REGARD TO YOUTH LOANS.

    Section 319 of the Consolidated Farm and Rural Development Act (7 
U.S.C. 1949) is amended by adding at the end the following:
    ``(c) Disregard of Loans Made to Youths.--As used in this section, 
the term `loan' does not include any loan made under section 311(b).''.

SEC. 4. DIRECT LOAN HISTORY AND GUARANTEE HISTORY TO BE CONSIDERED 
              SEPARATELY IN APPLYING THE TRANSITION RULE FOR GRADUATION 
              OF BORROWERS.

    Section 319(b)(2) of the Consolidated Farm and Rural Development 
Act (7 U.S.C. 1949(b)(2)) is amended to read as follows:
            ``(2) Transition rules.--
                    ``(A) Consideration of direct loan history.--If, as 
                of October 28, 1992, the Secretary has, for 5 or more 
                years, made a direct loan to a borrower under this 
                subtitle, then, after the 5th year (occurring after 
                October 28, 1992) for which a direct loan has been made 
                to the borrower under this subtitle, the Secretary 
                shall not make a direct loan to the borrower under this 
                subtitle.
                    ``(B) Consideration of guarantee history.--If, as 
                of October 28, 1992, the Secretary has, for 10 or more 
                years, provided a guarantee under this subtitle with 
                respect to a loan made to a borrower, then, after the 
                5th year (occurring after October 28, 1992) for which a 
                guarantee has been provided under this subtitle with 
                respect to a loan made to the borrower, the Secretary 
                shall not provide a guarantee under this subtitle with 
                respect to a loan made to the borrower.''.

            Passed the House of Representatives, September 29, 1994.

            Attest:

                                           DONNALD K. ANDERSON,

                                                                 Clerk.