,,ii  #aafth ,,congress  #b;d ,session  
,s4 #cfjb  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,may #e1       
#bjbj,mrs4 ,gillibrand 7for herself1    
,mr4 ,merkley1 ,mr4 ,booker1 and ,mr4   
,wyden7 introduced the following bill2  
which was read twice and referred to the
 ,committee on ,finance  ,a ,,bill  ,to 
provide loan forgiveness for certain    
borrowers of ,department of ,agriculture
 direct farm loans1 and for other       
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,relief for         
,america's ,small ,farmers ,act4  #b4   
,direct farm loan forgiveness  7a7      
,definitions ,in this section3 7#a7     
,eligible borrower ,the term eligible   
borrower means a borrower of an eligible
 loan that is actively engaged in       
farming 7within the meaning of section  
#ajja;,a of the ,food ,security ,act of 
#aihe 7#g ,u4,s4,c4 #acjh-a77 with      
respect to a farming operation-- 7,a7   
for which the eligible loan was made2   
and  7,b7 the average annual adjusted   

gross income for the previous #e-year   
period of which is not more than        
#cjj1jjj4  7#b7 ,eligible loan ,the term
 eligible loan means a loan made before 
,march #ai1 #bjbj1 that is-- 7,a7 a     
direct farm ownership loan under        
subtitle ,a of the ,consolidated ,farm  
and ,rural ,development ,act 7#g        
,u4,s4,c4 #aibb et seq472  7,b7 a direct
 operating loan under subtitle ,b of the
 ,consolidated ,farm and ,rural         
,development ,act 7#g ,u4,s4,c4 #aida et
 seq472 or  7,c7 an emergency loan under
 subtitle ,c of the ,consolidated ,farm 
and ,rural ,development ,act 7#g        
,u4,s4,c4 #aifa et seq474  7#c7         
,secretary ,the term ,secretary means   
the ,secretary of ,agriculture4  7b7    
,loan forgiveness  7#a7 ,in general ,not
 later than #a year after the date on   
which the ,secretary receives an        
application under paragraph 7#b71       
subject to paragraphs 7#c7 and 7#d71 the
 ,secretary shall cancel the obligation 
to repay the balance of principal and   

interest due as of the date of enactment
 of this ,act on an eligible loan for   
the eligible borrower4  7#b7            
,applications ,to be eligible for       
cancellation under paragraph 7#a71 not  
later than #a year after the date of    
enactment of this ,act1 an eligible     
borrower shall submit to the ,secretary 
an application1 which shall cover all   
eligible loans for which the eligible   
borrower is seeking cancellation4  7#c7 
,limitations ,the total amount cancelled
 under paragraph 7#a7 with respect to a 
farming operation shall be not more than
 #bej1jjj4  7#d7 ,condition ,the        
cancellation of an obligation under     
paragraph 7#a7 shall be subject to the  
condition that the applicable eligible  
borrower shall continue to be actively  
engaged in farming 7within the meaning  
of section #ajja;,a of the ,food        
,security ,act of #aihe 7#g ,u4,s4,c4   
#acjh-a77 for the #b-year period        
beginning on the date on which the      
,secretary cancels the obligation under 

that paragraph4  7c7 ,effect ,an        
eligible borrower that receives         
cancellation of an obligation with      
respect to an eligible loan under       
subsection 7b77#a7 shall not be         
determined to be ineligible for any loan
 under subtitle ,a1 ,b1 or ,c of the    
,consolidated ,farm and ,rural          
,development ,act 7#g ,u4,s4,c4 #aibb et
 seq47 because of that cancellation4    
7d7 ,taxability ,for purposes of the    
,internal ,revenue ,code of #aihf1 any  
amount which 7but for this subsection7  
would be includible in gross income of  
the eligible borrower by reason of      
forgiveness described in subsection 7b7 
shall be excluded from gross income4