This bill mandates the Secretary of Agriculture to implement a pilot program for direct farm ownership loans , focusing on a pre-approval or pre-qualification process. The primary goal is to streamline the application process and provide greater certainty to prospective borrowers seeking these loans. Under this pilot program, the Secretary may establish alternative eligibility requirements for applicants, while ensuring they still adhere to other existing provisions for direct farm ownership loans. The program also directs the Secretary to consider simplifying loan assessment determinations. The Secretary is required to submit annual reports to Congress detailing the actions and results of the pilot program, which is scheduled to terminate on September 30, 2030 .