Sec. 5101. MODIFICATION OF THE 3-YEAR EXPERIENCE ELIGIBILITY REQUIREMENT FOR FARM OWNERSHIP LOANS
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## SEC. 5101 MODIFICATION OF THE 3-YEAR EXPERIENCE ELIGIBILITY REQUIREMENT FOR FARM OWNERSHIP LOANS Section 302(b) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1922(b)) is amended by adding at the end the following: > > #### “(4) Waiver authority > > In the case of a qualified beginning farmer or rancher, the Secretary may— > > > ##### “(A) > > reduce the 3-year requirement in paragraph
(1)to 1 or 2 years, if the farmer or rancher has— > > > ###### “(i) > > not less than 16 credit hours of post-secondary education in a field related to agriculture; > > > ###### “(ii) > > successfully completed a farm management curriculum offered by a cooperative extension service, a community college, an adult vocational agriculture program, a nonprofit organization, or a land-grant college or university; > > > ###### “(iii) > > at least 1 year of experience as hired farm labor with substantial management responsibilities; > > > ###### “(iv) > > successfully completed a farm mentorship, apprenticeship, or internship program with an emphasis on management requirements and day-to-day farm management decisions; > > > ###### “(v) > > significant business management experience; > > > ###### “(vi) > > been honorably discharged from the armed forces of the United States; > > > ###### “(vii) > > successfully repaid a youth loan made under section 311(b); or > > > ###### “(viii) > > an established relationship with an individual who has experience in farming or ranching, or is a retired farmer or rancher, and is participating as a counselor in a Service Corps of Retired Executives program authorized under section 8(b)(1)(B) of the Small Business Act (15 U.S.C. 637(b)(1)(B)), or with a local farm or ranch operator or organization, approved by the Secretary, that is committed to mentoring the farmer or rancher; or > > > ##### “(B) > > waive the 3-year requirement in paragraph
(1)if the farmer or rancher meets the requirements of clauses
(iii)and
(viii)of subparagraph (A).” > .
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Sec. 5101
MODIFICATION OF THE 3-YEAR EXPERIENCE ELIGIBILITY REQUIREMENT FOR FARM OWNERSHIP LOANS
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