LOANS TO PURCHASERS OF HIGHLY FRACTIONED LAND.

SEC. 5501. LOANS TO PURCHASERS OF HIGHLY FRACTIONED LAND. The first section of Public Law 91–229 (25 U.S.C. 488) is amended—(1) by striking “That the Secretary” and inserting the following:“SECTION 1. LOANS TO PURCHASERS OF HIGHLY FRACTIONED LAND.“(a) In General.—The Secretary” ; and(2) by adding at the end the following:“(b) Highly Fractionated Land.—“(1) In general.—Subject to paragraph (2), the Secretary of Agriculture may make and insure loans in accordance with section 309 of the Consolidated Farm and Rural Development Act (7 U.S.C. 1929) to eligible purchasers of highly fractionated land pursuant to section 205(c) of the Indian Land Consolidation Act (25 U.S.C. 2204(c)).“(2) Exclusion.—Section 4 shall not apply to trust land, restricted tribal land, or tribal corporation land that is mortgaged in accordance with paragraph (1).”.