FARM LOAN ASSISTANCE FOR SOCIALLY DISADVANTAGED FARMERS AND RANCHERS.

SEC. 1005. FARM LOAN ASSISTANCE FOR SOCIALLY DISADVANTAGED FARMERS AND RANCHERS.(a) Payments.—(1) Appropriation.—In addition to amounts otherwise available, there is appropriated to the Secretary for fiscal year 2021, out of amounts in the Treasury not otherwise appropriated, such sums as may be necessary, to remain available until expended, for the cost of loan modifications and payments under this section. (2) Payments.—The Secretary shall provide a payment in an amount up to 120 percent of the outstanding indebtedness of each socially disadvantaged farmer or rancher as of January 1, 2021, to pay off the loan directly or to the socially disadvantaged farmer or rancher (or a combination of both), on each—(A) direct farm loan made by the Secretary to the socially disadvantaged farmer or rancher; and135 STAT. 13 (B) farm loan guaranteed by the Secretary the borrower of which is the socially disadvantaged farmer or rancher. (b) Definitions.—In this section:(1) Farm loan.—The term “farm loan” means—(A) a loan administered by the Farm Service Agency under subtitle A, B, or C of the Consolidated Farm and Rural Development Act (7 U.S.C. 1922 et seq.); and (B) a Commodity Credit Corporation Farm Storage Facility Loan. (2) Secretary.—The term “Secretary” means the Secretary of Agriculture. (3) Socially disadvantaged farmer or rancher.—The term “socially disadvantaged farmer or rancher” has the meaning given the term in section 2501(a) of the Food, Agriculture, Conservation, and Trade Act of 1990 (7 U.S.C. 2279(a)).