Sec. 202. Conservation loan and loan guarantee program
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Section 304 of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1924 ) is amended— in subsection (c)(2)— by striking shall meet and inserting “shall— meet ; in subparagraph
(A)(as so designated), by striking the period at the end and inserting ; and ; and by adding at the end the following: be the owner or operator of not larger than a family farm. ; in subsection (e)— by striking The portion and inserting the following: Except as provided in paragraph (2), the portion ; and by adding at the end the following: In the case of beginning farmers or ranchers and socially disadvantaged farmers or ranchers, the portion of the loan the Secretary may guarantee under this section shall be 95 percent of the principal amount of the loan. ; and by striking subsection
(h)and inserting the following: The Secretary may make or guarantee loans under this section for not more than $250,000,000 for each of fiscal years 2013 through 2018, of which, for each fiscal year, not more than 1/2 shall be used for direct loans and not more than 1/2 shall be used for guaranteed loans. Of the amount made available for direct loans for a fiscal year under paragraph (1), the Secretary shall reserve for qualified beginning farmers and ranchers until April 1 of the fiscal year not less than 50 percent of the amount. Of the amount made available for guaranteed loans for a fiscal year under paragraph (1), the Secretary shall reserve for qualified beginning farmers and ranchers until April 1 of the fiscal year not less than 50 percent of the amount. .
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Sec. 202
Conservation loan and loan guarantee program
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