S.Amdt. 2298

1. Adds SEC. 12___. ANNUAL REPORTS ON LOANS TO YOUNG AND BEGINNING FARMERS AND RANCHERS at the end of the bill

   Adds a section

   In S. 3240 · Placed on Calendar Senate

   (2) commence consultation with the Secretary of the Interior to complete the collection and removal of Canada geese from the applicable National Park Service land to ensure that the removal is completed by not later than August 1, 2012.

   Inserted: SEC. 12___. ANNUAL REPORTS ON LOANS TO YOUNG AND BEGINNING FARMERS AND RANCHERS.

   Inserted: (a) In General.--Part D of title IV of the Farm Credit Act of 1971 (12 U.S.C. 2203 et seq.) is amended by adding at the end the following:

   Inserted: "SEC. 4.22. ANNUAL REPORTS ON LOANS TO YOUNG AND BEGINNING FARMERS AND RANCHERS.

   Inserted: "(a) Definitions.--In this section:

   Inserted: "(1) Eligible borrower.--The term 'eligible borrower' means an agricultural producer who, as determined by the Farm Credit Administration--

   Inserted: "(A) is not more than 35 years old;

   Inserted: "(B)(i) has experience of at least 3 years in operating a farm or ranch; but

   Inserted: "(ii) has not more than 10 years of total farming or ranching experience; and

   Inserted: "(C) for the immediately preceding complete taxable year had an average adjusted gross farm income (as defined in section 1001D of the Farm Security Act of 1985 (7 U.S.C. 1308 3a) of not more than $250,000.

   Inserted: "(2) Funding institution.--The term 'funding institution' means an entity that, during the immediately preceding taxable year--

   Inserted: "(A) was part of the Farm Credit System;

   Inserted: "(B) was subject to regulation by the Farm Credit Administration; and

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   Inserted: "(C) had net income resulting from tax-exempt earnings on real estate lending.

   Inserted: "(b) Reports on Lending Data by Funding Institutions.--The Farm Credit Administration shall--

   Inserted: "(1) require each funding institution to annually aggregate and report all lending data by individual eligible borrower, and

   Inserted: "(2) annually report this lending activity to the Secretary and Congress.".

   Inserted: (b) Effective Date.--The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.

   Original wording

   At the end, add the following:

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As printed