EVALUATIONS OF DIRECT AND GUARANTEED LOAN PROGRAMS.

SEC. 5301. EVALUATIONS OF DIRECT AND GUARANTEED LOAN PROGRAMS. (a) Studies.—The Secretary of Agriculture shall conduct 2 studies of the direct and guaranteed loan progams under sections 302 and 311 of the Consolidated Farm and Rural Development Act, each of which shall include an examination of the number, average principal amount, and delinquency and default rates of loans provided or guaranteed during the period covered by the study. (b) Periods Covered.— (1) First study.—One study under subsection (a) shall cover the 1-year period that begins 1 year after the date of the enactment of this section. (2) Second study.—One study under subsection (a) shall cover the 1-year period that begins 3 years after such date of enactment. (c) Reports to the Congress.—At the end of the period covered by each study under this section, the Secretary of Agriculture shall submit to the Congress a report that contains an evaluation of the results of the study, including an analysis of the effectiveness of loan programs referred to in subsection (a) in meeting the credit needs of agricultural producers in an efficient and fiscally responsible manner.