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Code · BILL · 115th Congress · H.R. 4316 (Introduced in House) — To provide for the reform and continuation of the beginning farmer and rancher program, and for other purposes. · Sec. 201

Sec. 201. Adjustment of maximum limit on amount of direct farm ownership loans for regional farm real estate inflation; authority to make or guarantee farm ownership microloans

317 words·~1 min read·/bill/115/hr/4316/ih/section-201

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Section 305 of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1925 ) is amended— in subsection (a)— by striking $300,000 and inserting $500,000 (increased, beginning with fiscal year 2019, by the regional farm real estate inflation percentage applicable to the location where the farm involved is located for the fiscal year in which the loan is made, and decreased by the amount of any unpaid indebtedness of the borrower on direct loans under subtitle B) ; and by inserting cost before inflation percentage ; in subsection (c)— in the subsection heading, by striking and inserting Inflation percentage ; and Cost inflation percentage in the text, by inserting cost before inflation percentage ; and by adding at the end the following:
For purposes of this section, the regional farm real estate inflation percentage applicable to a farm for a fiscal year is the percentage (if any) by which— the regional farm real estate inflation index developed under paragraph
(2)for the region in which the farm is located, for the 12-month period ending on August 31 of the immediately preceding fiscal year; exceeds the average of the index (as so defined) for the 12-month period ending on August 31, 2018. The Secretary shall develop a regional farm real estate inflation index for measuring periodic changes in the price of farm real estate in each geographic region of the United States, using data from the National Agricultural Statistics Service. Subject to paragraph (2), the Secretary may establish a program to make or guarantee microloans. The Secretary shall not make or guarantee a microloan under this subsection that would cause the total principal indebtedness outstanding at any 1 time for microloans made under this subtitle to any 1 borrower to exceed $50,000. To the maximum extent practicable, the Secretary shall limit the administrative burdens and streamline the application and approval process for microloans under this subsection. .
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Sec. 201
Adjustment of maximum limit on amount of direct farm ownership loans for regional farm real estate inflation; authority to make or guarantee farm ownership microloans
U.S.C.§ 1925
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