Farm Ownership Improvement Act

This bill requires the Department of Agriculture to create a five-year test program that lets farmers and ranchers get pre-qualified or pre-approved for government loans used to buy and develop farm property. The program focuses on reaching out to organizations that work with people who are new to farming or ranching. The Department of Agriculture can use different methods, like financial benchmarking, to check whether someone applying for a loan is likely to be able to pay it back. The department must also send a yearly report to Congress about how the program is working and whether it's worth continuing.

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