(a) Definition of farm loanIn this section, the term “farm loan” means—
(1)
a farm ownership loan under subtitle A of the Consolidated Farm and Rural Development Act (7 U.S.C. 1922 et seq.); and
(b) Reports
(1) PreparationFor each fiscal year, the Secretary shall prepare a report that includes—
(A) aggregate data based on a review of each outstanding farm loan made or guaranteed by the Secretary describing, for the United States and for each State and county in the United States—
(B)
for each State and county in the United States, data demonstrating the number of outstanding farm loans made or guaranteed, according to loan size cohort; and
(C)
an assessment of actual loans made or guaranteed as measured against target participation rates for beginning and socially disadvantaged farmers, broken down by State, as described in sections 346(b)(2) and 355 of the Consolidated Farm and Rural Development Act (7 U.S.C. 1994(b)(2), 2003).
(c) Comprehensive review
(1) In generalNot later than 4 years after December 20, 2018 (and every 5 years thereafter), the Secretary shall—
(B)
identify trends within data outlined in subsection (b)(1), including the extent to which target annual participation rates for beginning and socially disadvantaged farmers (as defined by the Secretary) are being met for each loan type; and