JOINT FINANCING ARRANGEMENTS.

SEC. 5003. JOINT FINANCING ARRANGEMENTS. Section 307(a)(3) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1927(a)(3)) is amended by striking subparagraph (D) and inserting the following: “(D) Joint financing arrangements. If a direct farm ownership loan is made under this subtitle as part of a joint financing arrangement and the amount of the direct farm ownership loan does not exceed 50 percent of the total principal amount financed under the arrangement, the interest rate on the direct farm ownership loan shall be a rate equal to the greater of— “(i) the difference between— “(I) 2 percent; and “(II) the interest rate for farm ownership loans under this subtitle; or “(ii) 2.5 percent.” .