[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 2685 Introduced in Senate (IS)]

<DOC>






115th CONGRESS
  2d Session
                                S. 2685

  To modify certain requirements for farm ownership loan eligibility.


_______________________________________________________________________


                   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.

    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 ``Farmers of Tomorrow Act''.

SEC. 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)''.
                                 <all>