Sec. 5106. Support for resolving ownership and succession issues relating to farmland
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/bill/118/s/5335/is/section-5106A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 310I of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1936c ) is amended— in subsection (a), by striking relend the funds to individuals and entities and inserting use the funds ; by striking subsection
(c)and inserting the following: An eligible entity that receives a loan made by the Secretary pursuant to subsection (a)— shall relend the proceeds from the loan for projects that assist heirs with undivided ownership interests to resolve ownership and succession on farmland that has multiple owners; and may use not more than 25 percent of the amount of the loan to pay administrative costs of relending the proceeds. ; and in subsection (e)— in paragraph (3)(B), by striking be ; and by adding at the end the following: The Secretary may forgive, as the Secretary determines appropriate, the amount of a loan used to pay administrative costs of relending the proceeds from the loan. . by striking subsection
(f)and inserting the following: Each eligible entity that receives a loan under this section shall submit to the Secretary an annual report that— describes the progress and outcomes of the activities conducted by the eligible entity pursuant to the loan using funding provided under this section, including— the number of individuals who received assistance from the eligible entity; the number of individuals whose farm ownership interests were resolved; and the number of individual heirs involved in each case involving undivided ownership; and the number of requests for assistance received by the eligible entity. Not later than September 30, 2027, the Secretary shall make publicly available a report that— identifies— each eligible entity that received a loan under this section; the number of individuals whose farmland ownership interests were resolved by each eligible entity identified under clause (i); and the number of individual heirs affected by the resolution of those ownership interests; describes the operation and outcomes of the projects and activities carried out by eligible entities under this section; and includes recommendations on how to strengthen the programs carried out by the Secretary under subsection (a). ; and in subsection (g)— by striking 2023 and inserting 2029 ; and by striking the subsection designation and heading and all that follows through There and inserting the following: Of the funds of the Commodity Credit Corporation, the Secretary shall make available to carry out this section $20,000,000 for fiscal year 2025 and each fiscal year thereafter, to remain available until expended. In addition to other amounts available to the Secretary, there .
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Sec. 5106
Support for resolving ownership and succession issues relating to farmland
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