Makes multiple substantive revisions to section 321 of the Consolidated Farm and Rural Development Act (7 U.S.C. 1961): removes former subsection (d); modifies subsection (c); redesignates subsection (b) as (c); replaces the section designation and the text through subsection (a) with new definitions (including a definition for "able to obtain sufficient credit elsewhere" and for "aquaculture") and revised eligibility language; and adds a new subsection (e) authorizing emergency loans to owners of nonindustrial private forest land for outbreak response measures, setting a minimum loan amount percentage for pine beetle outbreaks, and providing a loan repayment option related to certain cost-share payments.

Conforming amendment to Section 531(a) of the Federal Crop Insurance Act (7 U.S.C. 1531(a)) that strikes and inserts new text in paragraph (16) and in paragraph (18). The specific replacement text is not included in this section.

In the first sentence of 7 U.S.C. 1964(d)(1), replaces the citation to "section 321(b) of this title" with "section 321(c)."

Amends 19 U.S.C. 2497(a) by redesignating clauses (i) through (iii) as subparagraphs (A) through (C) and adjusting indentation; also strikes and inserts new text in paragraph (16) and paragraph (18) (replacement text not provided in this section).

Amends 42 U.S.C. 5154a(d)(1) by striking and inserting new text (the replacement text is not included in this section).

Redesignates existing subsection (e) as subsection (f) and inserts a new subsection (e) establishing emergency measures specific to pine beetle outbreaks, including definitions, assistance for owners of nonindustrial private forest land and for timber service businesses, cost-share limits, eligibility criteria, implementation by local Farm Service Agency offices (in consultation with county committees), and authority for supplemental grants to State, Tribal, and local governments.