,i #aacth ,,congress #ast ,session ,h4 ,r4 #abig ,,in ,,the ,,house ,,of ,,representatives ,march #bj1 #bjac ,mr4 ,owens 7for himself1 ,mr4 ,courtney1 and ,mr4 ,hanna7 introduced the following bill2 which was referred to the ,committee on ,agriculture ,a ,,bill ,to amend the ,consolidated ,farm and ,rural ,development ,act to expand eligibility for ,farm ,service ,agency loans4 #a4 ,short title ,this ,act may be cited as the ,agricultural ,credit ,expansion ,act4 #b4 ,eligibility for farm loans 7a7 ,farm ownership loans ,section #cjb7;a7 of the ,consolidated ,farm and ,rural ,development ,act 7#g ,u4,s4,c4 #aibb7;a77 is amended-- 7#a7 by striking 7a7 ,in general4--,the and inserting the following3 7a7 ,in general 7#a7 ,eligibility requirements ,the 2 7#b7 in the #ast sentence1 by inserting after limited liability companies the following3 1 and such other legal entities as the ,secretary deems appropriate12 7#c7 in the #bnd sentence1 by redesignating clauses 7#a7 through 7#d7 as clauses 7,a7 through 7,d71 respectively2 7#d7 in each of the #bnd and #crd sentences1 by striking and limited liability companies each place it appears and inserting limited liability companies1 and such other legal entities2 and 7#e7 by adding at the end the following3 7#b7 ,special deeming rules 7,a7 ,eligibility of certain operating-only entities ,an entity that is or will become only the operator of a family farm is deemed to meet the owner-operator requirements of paragraph 7#a7 if the individuals that are the owners of the family farm own more than #ej percent 7or such other percentage as the ,secretary determines is appropriate7 of the entity4 7,b7 ,eligibility of certain embedded entities ,an entity that is an owner-operator described in paragraph 7#a71 or an operator described in subparagraph 7,a7 of this paragraph that is owned1 in whole or in part1 by other entities1 is deemed to meet the direct ownership requirement imposed under paragraph 7#a7 if at least #ge percent of the ownership interests of each embedded entity of such entity is owned directly or indirectly by the individuals that own the family farm4 4 7b7 ,conservation loans ,section #cjd7;c77#a7 of such ,act 7#g ,u4,s4,c4 #aibd7;c77#a77 is amended by inserting after limited liability companies the following3 1 or such other legal entities as the ,secretary deems appropriate14 7c7 ,farm operating loans ,section #caa7;a7 of such ,act 7#g ,u4,s4,c4 #aida7;a77 is amended-- 7#a7 by striking 7a7 ,in general4--,the and inserting the following3 7a7 ,in general 7#a7 ,eligibility requirements ,the 2 7#b7 in the #ast sentence1 by inserting after limited liability companies the following3 1 and such other legal entities as the ,secretary deems appropriate12 7#c7 in the #bnd sentence1 by redesignating clauses 7#a7 through 7#d7 as clauses 7,a7 through 7,d71 respectively2 7#d7 in each of the #bnd and #crd sentences1 by striking and limited liability companies each place it appears and inserting limited liability companies1 and such other legal entities2 and 7#e7 by adding at the end the following3 7#b7 ,special deeming rule ,an entity that is an operator described in paragraph 7#a7 that is owned1 in whole or in part1 by other entities1 is deemed to meet the direct ownership requirement imposed under paragraph 7#a7 if at least #ge percent of the ownership interests of each embedded entity of such entity is owned directly or indirectly by the individuals that own the family farm4 4 7d7 ,emergency loans ,section #cba7;a7 of such ,act 7#g ,u4,s4,c4 #aifa7;a77 is amended-- 7#a7 by striking owner-operators 7in the case of loans for a purpose under subtitle ,a7 or operators 7in the case of loans for a purpose under subtitle ,b7 each place it appears and inserting 7in the case of farm ownership loans in accordance with subtitle ,a7 owner-operators or operators1 or 7in the case of loans for a purpose under subtitle ,b7 operators2 7#b7 by inserting after limited liability companies the #ast place it appears the following3 1 or such other legal entities as the ,secretary deems appropriate2 7#c7 by inserting after limited liability companies the #bnd place it appears the following3 1 or other legal entities2 7#d7 by striking and limited liability companies1 and inserting limited liability companies1 and such other legal entities2 7#e7 by striking ownership and operator and inserting ownership or operator2 and 7#f7 by adding at the end the following3 ,an entity that is an owner-operator or operator described in this subsection is deemed to meet the direct ownership requirement imposed under this subsection if the entity is owned1 in whole or in part1 by other entities and each individual that is an owner of the family farm involved has a direct or indirect ownership interest in each of the other entities44 7e7 ,conforming amendments 7#a7 ,section #cjd7;c77#b7 of such ,act 7#g ,u4,s4,c4 #aibd7;c77#b77 by striking paragraphs 7#a7 and 7#b7 of section #cjb7;a7 and inserting subparagraphs 7,a7 and 7,b7 of section #cjb7;a77#a74 7#b7 ,section #caj;,d of such ,act 7#g ,u4,s4,c4 #aicd7 is amended-- 7,a7 by inserting after partnership the following3 1 or such other legal entities as the ,secretary deems appropriate12 and 7,b7 by inserting after partners the following3 1 or owners14 7#c7 ,section #cdc7;a77#aa7 of such ,act 7#g ,u4,s4,c4 #aiia7;a77#aa77 is amended-- 7,a7 by inserting after joint operation1 the #ast place it appears the following3 or such other legal entity as the ,secretary deems appropriate12 7,b7 by striking or joint operators each place it appears and inserting joint operators1 or owners2 and 7,c7 by inserting after joint operation1 each other place it appears the following3 or such other legal entity14 7#d7 ,section #cei7;c77#b7 of such ,act 7#g ,u4,s4,c4 #bjjf;a7c77#b77 is amended by striking section #cjb7;a77#b7 or #caa7;a77#b7 and inserting section #cjb7;a77#a77;,b7 or #caa7;a77#a77;,b74