MATCHING GRANTS TO STATES.

SEC. 502. MATCHING GRANTS TO STATES. (a) Matching Grants.— Within 60 days after the Secretary certifies the State as a qualifying State under section 501(b), the Secretary shall provide financial assistance to the State, in accordance with subsection (b), for the operation and administration of the agricultural loan mediation program. (b) Amount of Grant.— (1) In general.— Subject to paragraph (2), the Secretary shall pay to a State under subsection (a) not more than 50 percent of the cost of the operation and administration of the agricultural loan mediation program within the State. (2) Maximum amount.— The Secretary shall not pay more than $500,000 per year to a single State under subsection (a). (c) Use of Grant.— Each State that receives an amount paid under subsection (a) shall use that amount only for the operation and administration of the agricultural loan mediation program of the State. (d) Penalty.— If the Secretary determines that a State has not complied with subsection (c), such State shall not be eligible for additional financial assistance under this subtitle.