Sec. 5101. Eligibility for farm operating loans
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Section 311(a) of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1941(a) ) is amended— by striking
(a)and inserting the following: In general.— The The ; in the first sentence, by striking and limited liability companies and inserting limited liability companies, and such other legal entities as the Secretary considers appropriate, ; in the second sentence, by redesignating paragraphs
(1)through
(4)as subparagraphs
(A)through (D), respectively; in each of the second and third sentences, by striking and limited liability companies each place it appears and inserting limited liability companies, and such other legal entities ; in the third sentence— by striking clause
(3)and inserting subparagraph
(C); and by striking clause
(4)and inserting subparagraph
(D); and by adding at the end the following: An entity that is an operator described in paragraph
(1)that is owned, in whole or in part, by other entities, shall be considered to meet the direct ownership requirement imposed under paragraph
(1)if at least 75 percent of the ownership interests of each embedded entity of the entity is owned directly or indirectly by the individuals that own the family farm. .
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Sec. 5101
Eligibility for farm operating loans
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