Farmers of Tomorrow Act
A BILL
To amend the Consolidated Farm and Rural Development Act to alter and expand eligibility for farm ownership loans by modifying the 3-year experience requirement.
Sec. 2 Modification of the 3-year experience requirement for purposes of eligibility for farm ownership loans
“(2) Other acceptable experience—In determining whether a farmer or rancher has other acceptable experience under paragraph (1), the Secretary may count any of the following:
“(A) at least 16 hours of post-secondary education in a field related to agriculture;
“(B) successful completion of a farm management curriculum offered by the Cooperative Extension Service, a community college, an adult vocational agriculture program, a non-profit organization, or a land grant university;
“(C) at least 1 year of direct substantive management experience in a business;
“(D) an honorable discharge from the armed forces of the United States;
“(E) successful repayment of a youth loan made under section 311(b);
“(F) at least 1 year as hired farm labor with substantial management responsibilities;
“(G) successful completion of a farm mentorship, apprenticeship, or internship program with an emphasis on management requirements and day-to-day farm management decisions;
“(H) an established relationship with an individual participating as a counselor in a Service Corps of Retired Executives program authorized under section 8(b)(1)(B) of the Small Business Act (15 U.S.C. 637(b)(1)(B)), or with a local farm or ranch operator or organization, approved by the Secretary, that is committed to mentoring the farmer or rancher; and
“(I) successful completion of a military leadership course.
“(3) Deeming rule—For purposes of paragraph (1), a farmer or rancher is deemed to have participated in the business operations of a farm or ranch for not less than 3 years or have other acceptable experience for a period of time, as determined by the Secretary, if the farmer or rancher meets the requirements of subparagraphs (F), (H), and (I) of paragraph (2).”