Expands eligibility for USDA farm loans to qualified operators with at least a 50% interest.
The USDA Loan Modernization Act amends the Consolidated Farm and Rural Development Act to expand eligibility for guaranteed and direct loans to individuals or entity members that hold at least a 50 percent interest and are or will become qualified operators of the farm real estate. It also modifies eligibility rules for operating loans and emergency loans, allowing certain entities to meet ownership requirements if at least 75 percent of their ownership interests are held by qualified operators.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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