,,ii  #aah? ,,congress  #b;d ,session   
,s4 #ddda  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #c1 #bjbd,mr4    
,wel* introduc$ ! foll[+ bill2 :i* 0    
read twice & ref]r$ to ! ,committee on  
,agriculture1 ,nutrition1 & ,=e/ry  ,a  
,,bill  ,to am5d ! ,consolidat$ ,f>m &  
,rural ,developm5t ,act to provide = a  
pilot program "u :i* developm5t loans & 
loan gu>antees may be made to beg9n+    
f>m]s & ran*]s1 & = o!r purposes4  #a4  
,%ort title ,?is ,act may be cit$ z !   
,capital = ,beg9n+ ,f>m]s & ,ran*]s ,act
 ( #bjbd4  #b4 ,f9d+s ,congress f9ds t--
 7#a7 beg9n+ f>m]s & ran*]s (t5 pursue  
bus9ess models featur+ div]se &         
specializ$ production & m>ket+          
/rategies2  7#b7 div]se & specializ$    
agricultural bus9esses typically require
 sub/antial e>ly-/age inve/m5ts :i* w   
b5efit ! op]ation = ye>s to come2 &     
7#c7 programs 9 effect z ( #bjbd (t5    
f9ance ^? multi-ye> inve/m5ts z annual  
op]at+ loans1 result+ 9 beg9n+ f>m]s &  
ran*]s "u-inve/+ 9 critical />t-up      

capacities1 limit+ ! ability ( beg9n+   
f>m]s & ran*]s to accumulate work+      
capital1 & increas+ ! difficulties fac$ 
by beg9n+ f>m]s & ran*]s 9 meet+ ! t]ms 
( ^? loans4  #c4 ,beg9n+ f>m] & ran*]   
developm5t loan pilot program ,subtitle 
,b ( ! ,consolidat$ ,f>m & ,rural       
,developm5t ,act 7#g ,u4,s4,c4 #aida et 
seq47 is am5d$ by add+ at ! end !       
foll[+3  #cbj4 ,beg9n+ f>m] & ran*]     
developm5t loan pilot program  7a7      
,def9ition ( developm5t exp5diture  7#a7
 ,9 g5]al ,9 ?is section1 ! t]m         
developm5t exp5diture means a capital   
inve/m5t t b5efits a f>m+ or ran*+      
bus9ess ( a qualifi$ beg9n+ f>m] or     
ran*] = m ?an #a ye>4  7#b7 ,inclusions 
,9 ?is section1 ! t]m developm5t        
exp5diture includes an exp5diture-- 7,a7
 = ! acquisition or developm5t (-- 7i7  
initial assets2 or  7ii7 intangible     
infra/ructure2  7,b7 to increase        
long-t]m soil f]tility1 e/abli%         
p]5nials1 or develop bre$+ /ock2  7,c7  
to e/abli% an appropriate f\ndation (   

small equipm5t1 tools1 or supplies2     
7,d7 to develop br&+ & reputation1      
e/abli% comm]cial relation%ips )        
suppli]s & key s]vice provid]s1 access  
new m>kets1 or ref9e product (f]+s2     
7,e7 to e/abli% a bookkeep+ sy/em       
suffici5t to support invoic+ multiple   
cli5ts & manag+ pr(itability ) respect  
to div]se crops & live/ock2  7,f7 to    
e/abli% payroll & implem5t legally      
compliant labor practices2  7,g7 to     
e/abli% o!r bus9ess managem5t practices 
relat+ to food safety1 environm5tal1 or 
o!r regulatory compliance2 or  7,h7 =   
su* o!r items z ! ,secret>y det]m9es    
appropriate4  7b7 ,e/abli%m5t ,n lat]   
?an #b ye>s aft] ! date ( enactm5t ( ?is
 section1 ! ,secret>y %all e/abli% a    
pilot program to make or gu>antee       
developm5t loans to qualifi$ beg9n+     
f>m]s & ran*]s to f9ance developm5t     
exp5ditures4  7c7 ,t]ms & conditions    
7#a7 ,9 g5]al ,not)/&+ any o!r provision
 ( law1 a developm5t loan made or       
gu>ante$ "u ?is section-- 7,a7 %all h a 

repaym5t t]m (-- 7i7 n less ?an #c ye>s2
 &  7ii7 n m ?an #aj ye>s2  7,b7 may be 
us$ only to cov] developm5t exp5ditures2
  7,c7 %all n exce$ #ajj1jjj2  7,d7 %all
 h a collat]al requirem5t ( n m ?an #ajj
 p]c5t loan-to-value1 subject to        
p>agraph 7#b72  7,e7 %all h an int]e/   
rate1 det]m9$ by ! ,secret>y1 (-- 7i7 n 
less ?an z]o p]c5t2 &  7ii7 n m ?an #c  
p]c5t2  7,f7 %all require ! p>ticipat+  
qualifi$ beg9n+ f>m] or ran*] to make   
annual int]e/ paym5ts = ! full am\nt (  
int]e/ due2 &  7,g7 %all include        
flexible pr9cipal repaym5t1 subject to !
 condition t n less ?an #a p]c5t ( !    
rema9+ balance %all be due annually on a
 date det]m9$ by ! ,secret>y4  7#b7     
,collat]al requirem5t ,! collat]al      
requirem5t describ$ 9 p>agraph 7#a77;,d7
 may be r$uc$ by ! l5d] bas$ on ! f>m+  
or ran*+ exp]i5ce & exp]tise ( ! borr[]4
  7#c7 ,treatm5t ,a developm5t loan made
 or gu>ante$ "u ?is section-- 7,a7 %all 
n c\nt t[>d ! limitations describ$ 9    
subp>agraphs 7,b7 & 7,c7 ( section      

#caa7;c77#a72  7,b7 %all be consid]$ to 
be-- 7i7 a direct op]at+ loan or a      
gu>ante$ op]at+ loan1 z applicable1 =   
purposes ( section #cdf7;b77#b72 &  7ii7
 an op]at+ loan "u section #cab =       
purposes ( section #cdc7;a77#aj72 &     
7,c7 except z o!rwise provid$ 9 ?is     
section1 %all be subject to all         
applicable provisions ( law relat+ to1 z
 applicable-- 7i7 direct op]at+ loans "u
 ?is title2  7ii7 gu>ante$ op]at+ loans 
"u ?is title2 or  7iii7 f>m] program    
loans4  7d7 ,borr[] tra9+  7#a7 ,9 g5]al
 ,! ,secret>y %all provide to borr[]s ( 
developm5t loans made or gu>ante$ "u ?is
 section compreh5sive tra9+ & support   
address+ f>m & ran* managem5t issues4   
7#b7 ,requirem5ts ,! tra9+ & support    
provid$ "u p>agraph 7#a7 %all address1  
to ! maximum ext5t practicable-- 7,a7   
bookkeep+1 taxation1 cr$it1 & regulatory
 compliance2 &  7,b7 ca% fl[1           
pr(itability1 & risk managem5t4  7#c7   
,provision ,! ,secret>y %all provide    
tra9+ & support "u p>agraph 7#a7 ?r\gh--

 7,a7 entities ) :i* ! ,secret>y has    
ent]$ into a contract "u section #cei2  
7,b7 entities t receive fund+ ?r\gh !   
beg9n+ f>m] & ran*] developm5t grant    
program e/abli%$ "u section #beja7;d7 ( 
! ,food1 ,agriculture1 ,cons]vation1 &  
,trade ,act ( #aiij 7#g ,u4,s4,c4       
#bbgi7;d772  7,c7 entities t receive    
fund+ ?r\gh ! risk managem5t education  
program e/abli%$ "u section #ebd7;a77#b7
 ( ! ,f$]al ,crop ,insurance ,act 7#g   
,u4,s4,c4 #aebd7;a77#b772 or  7,d7 o!r  
relevant programs1 z det]m9$ by !       
,secret>y1 includ+ qualifi$ programs t  
reque/ su* a det]m9ation4  7e7          
,evaluation & reports ,! ,secret>y      
%all-- 7#a7 evaluate ! pilot program    
e/abli%$ "u subsection 7b7 on an ongo+  
basis2 &  7#b7 bi5nially submit to !    
,committee on ,agriculture1 ,nutrition1 
& ,=e/ry ( ! ,s5ate & ! ,committee on   
,agriculture ( ! ,h\se ( ,repres5tatives
 a writt5 report describ+ ! op]ation &  
outcomes ( ! pilot program4  4