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Code · BILL · 118th Congress · H.R. 1824 (Introduced in House) — To reform the safety net for farmers and ranchers, enhance soil, water, and habitat conservation, encourage beginning... · Sec. 242

Sec. 242. Conservation loan and loan guarantee program

290 words·~1 min read·/bill/118/hr/1824/ih/section-242

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Section 304 of the Consolidated Farm and Rural Development Act is amended— in subsection (b)(3)— in subparagraph (F), by striking and at the end; in subparagraph (G), by striking the period and inserting ; and ; and by adding at the end the following: how and to what extent the conservation project will support the implementation of a comprehensive conservation plan and improve the conditions of identified priority resource concerns. ; in subsection (c), by adding at the end the following: In order to be eligible to receive a loan or loan guarantee under this section, an entity described in paragraph
(1)shall have a conservation loan plan. ; in subsection (d)— in paragraph (2), by striking and at the end; in paragraph (3), by striking the period and inserting a semicolon; and by adding at the end the following: projects that will do the most to address priority resource concerns, as specified in a conservation loan plan; and projects that are designed to help producers comply with, or avoid the need for, local, State, or Federal regulation. ; and by striking subsection
(f)and inserting the following: The Secretary shall ensure, to the maximum extent practicable, that qualified conservation loans made or guaranteed under this section are distributed across diverse geographic regions, while still prioritizing qualified conservation projects with the greatest conservation or environmental benefit. The Secretary shall ensure proper cooperation between the Natural Resources Conservation Service, which shall review and approve comprehensive loan plans and provide technical assistance for qualified conservation projects, and the Farm Service Agency, which will approve and issue loans and loan guarantees under this section. The Secretary shall ensure that a loan made under this section is made at or below market rate. .
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