GAO REPORT ON CREDIT SERVICE TO SOCIALLY DISADVANTAGED FARMERS AND RANCHERS.

SEC. 5416. GAO REPORT ON CREDIT SERVICE TO SOCIALLY DISADVANTAGED FARMERS AND RANCHERS. (a) Definitions.—In this section: (1) Agricultural credit provider.—The term “agricultural credit provider” means— (A) a Farm Credit System institution; (B) a commercial bank; (C) the Federal Agricultural Mortgage Corporation; (D) a life insurance company; and (E) any other individual or entity, as determined by the Comptroller General of the United States. (2) Socially disadvantaged farmer or rancher.—The term “socially disadvantaged farmer or rancher” has the meaning given the term in section 355(e) of the Consolidated Farm and Rural Development Act (7 U.S.C. 2003(e)). (b) Study.—The Comptroller General of the United States shall— (1) conduct a study— (A) to assess the credit and related services provided by agricultural credit providers to socially disadvantaged farmers and ranchers; (B) to review the overall participation of socially disadvantaged farmers and ranchers in the services described in subparagraph (A); and (C) to identify barriers that limit the availability of agricultural credit to socially disadvantaged farmers and ranchers; and (2) provide recommendations on how agricultural credit providers may improve outreach to socially disadvantaged farmers and ranchers relating to the availability of credit and related services. (c) Report.—Not later than 120 days after the date of enactment of this Act, the Comptroller General of the United States shall prepare and submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a report that contains the findings of the study conducted under subsection (b)(1) and the recommendations described in subsection (b)(2).