Increases and updates several Farm Service Agency (FSA) loan limits, changes how the law counts inflation for certain loan limits by using a three‑part U.S. per‑acre land‑value average, clarifies and tweaks statutory language in the down‑payment loan program, and requires the FSA to issue rules allowing some FSA‑guaranteed loans that meet distress and taxpayer‑protection criteria to be refinanced into FSA direct loans within one year. Also includes a congressional statement urging full funding of FSA microloans, direct loans, and guaranteed loans to meet producer demand and help beginning and family farmers.

Also contains a textual replacement in one provision that appears to insert malformed text (likely a drafting error) and does not itself appropriate new funds; it mainly changes formulas, limits, and administrative authorities and timelines for agency rulemaking.