106 STAT. 4146 PUBLIC LAW 102-554—OCT. 28,1992

"(3) encourage retiring farmers and ranchers to assist in
the sale of their farms and ranches to qualified beginning
farmers and ranchers by providing seller financing; and

"(4) coordinate the loan program established by this section
with State programs that provide farm ownership or operating
loans for beginning farmers and ranchers.",
(b) AVAILABILITY OF FARM OWNERSHIP LOANS AND LOAN
GUARANTEES FOR CERTAIN BEGINNING FARMERS AND RANCHERS.—
Subtitle A (7 U.S.C. 1922 et seq.) (as amended by subsection (a)
of this section) is further amended by adding at the end the follow-
ing new section:

7 USC 1936. "SEC. S10F. AVAILABILITY OF FARM OWNERSHIP LOANS AND LOAN

GUARANTEES FOR CERTAIN QUALIFIED BEGINNING
FARMERS AND RANCHERS.

"(a) ASSISTANCE PROHIBITED FOR A LIMITED PERIOD.—Except
as otherwise provided in this section, if the Secretary approves
the application of a qualified beginning farmer or rancher (referred
to in this section as the 'applicant') for assistance under section
318, the Secretary shall not make a loan under this subtitle to
the applicant or provide a guarantee under section 309(h) with
respect to any farm real estate loan made to the applicant.

"(b) AVAILABILITY OF DOWN PAYMENT LOANS.—After the
applicable period, the Secretary may make an insured loan under
this subtitle, or a down payment loan under section 310E, to an
applicant if—

"(1) throughout the applicable period, the applicant con-
ducted an operation for which assistance is provided under
section 318 in accordance with the plan for special assistance;
and

"(2) the applicant is otherwise eligible for the loan,
"(c) AVAILABILITY OF LOAN GUARANTEES.—After the applicable
period, the Secretary may guarantee under section 309(h) the repay-
ment of a commercial or cooperative loan made to an applicant
referred to in subsection (a) if—

M(l) throughout the applicable period, the applicant con-
ducted the operation for which assistance is provided under
section 318 in accordance with the plan for special assistance;
and

"(2) the applicant is otherwise eligible for the loan
guarantee.

"(d) APPLICABLE PERIOD DEFINED.—As used in this section,
the term 'applicable period' means the first 5 years for which
an applicant nas operated a farm or ranch, including the period
of time the applicant is provided assistance under section 318.".

SEC. 8. SPECIAL ASSISTANCE TO CERTAIN QUALIFIED BEGINNING
FARMERS AND RANCHERS.

Subtitle B (7 U.S.C. 1941 et seq.) is amended by adding at
the end the following new section:

7 USC 1948. "SEC. 318. SPECIAL ASSISTANCE TO CERTAIN QUALIFIED BEGINNING

FARMERS AND RANCHERS.

"(a) IN GENERAL.—The Secretary shall provide special assist-
ance in accordance with this section to enable a qualified beginning
fanner or rancher who has not operated a farm or ranch, or who
has operated a farm or ranch for not more than 5 years (referred