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Code · BILL · 118th Congress · S. 720 (Introduced in Senate) — To leverage incentives for the adoption of precision agriculture equipment and technology, and for other purposes. · Sec. 2

Sec. 2. Conservation loan and loan guarantee program

328 words·~1 min read·/bill/118/s/720/is/section-2

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Section 304 of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1924 ) is amended— in subsection (b)— by redesignating paragraphs (1), (2), and
(3)as paragraphs (3), (4), and (1), respectively, and moving the paragraphs so as to appear in numerical order; in paragraph
(1)(as so redesignated)— by redesignating subparagraphs
(F)and
(G)as subparagraphs
(G)and (H), respectively; and by inserting after subparagraph
(E)the following: the adoption of precision agriculture practices and the acquisition of precision agriculture technology; ; and by inserting after paragraph
(1)(as so redesignated) the following: The terms precision agriculture and precision agriculture technology have the meanings given those terms in section 1201(a) of the Food Security Act of 1985 ( 16 U.S.C. 3801(a) ). ; in subsection (d)— in paragraph (2), by striking and at the end; in paragraph (3), by striking 1985. and inserting 1985 ( ; and 16 U.S.C. 3812 ); and by adding at the end the following: producers who use the loans to adopt precision agriculture practices or acquire precision agriculture technology, including adoption or acquisition for the purpose of participating in the environmental quality incentives program under subchapter A of chapter 4 of subtitle D of title XII of the Food Security Act of 1985 ( 16 U.S.C. 3839aa et seq. ). ; in subsection (e), by striking paragraph
(2)and inserting the following: 90 percent of the principal amount of the loan in the case of— a producer that is a qualified socially disadvantaged farmer or rancher or a beginning farmer or rancher; or a loan that is used for the purchase of precision agriculture technology. ; and in subsection (f)— by striking
(f)and inserting the following: Administrative provisions.— The Secretary The Secretary ; and by adding at the end the following: In making or guaranteeing loans under this section, the Secretary shall ensure that there is coordination between the Farm Service Agency and the Natural Resources Conservation Service. .
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cites case law
Sec. 2
Conservation loan and loan guarantee program
U.S.C.§ 1924
U.S.C.§ 3801
U.S.C.§ 3812
U.S.C.§ 3839aa
Cites 4Cited by 0 across 0 sources
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