Summary

Creates a five-year USDA pilot program to pre-qualify or pre-approve direct farm ownership loans. The Department of Agriculture must set up the pilot within two years, may use alternative methods to assess borrower viability and repayment ability for pilot participants, and must prioritize outreach to groups that work with beginning farmers and ranchers. The pilot cannot remove existing loan eligibility rules, must be evaluated continuously, and requires annual reporting to congressional agriculture committees with a recommendation on whether to make the program permanent.

• Creates a five-year pilot to test pre-qualification/pre-approval for USDA direct farm ownership loans.
• Secretary of Agriculture must set up the pilot within two years of enactment.
• Pilot participants may be assessed using alternative borrower-viability and repayment methods (e.g., benchmarking).
• Existing Subtitle A loan eligibility and borrowing requirements remain in effect and cannot be waived by the pilot.
• Priority outreach required to organizations working with beginning farmers and ranchers.
• USDA must evaluate the pilot on an ongoing basis and produce annual reports to congressional agriculture committees.
• Annual reporting must include performance outcomes and a recommendation on authorizing a permanent program.
• No specific appropriations or dollar amounts are specified in the text.