H.R. 7475 — Expedited Guaranteed Lender Pilot Program Act

This section establishes an expedited loan guarantee approval pilot program for bridge loans guaranteed under the Consolidated Farm and Rural Development Act (i.e., farm ownership, operating, and rural development loans administered by USDA's Farm Service Agency) that are serviced by Preferred Certified Lenders (i.e., lenders with delegated loan approval authority under section 339) and provided to creditworthy borrowers, requiring the Secretary to begin implementation no later than one year after enactment of this section, submit annual reports to the agriculture policy committees beginning one year after enactment, and terminate the program on September 30, 2031. In implementing the pilot, the Secretary must consider streamlining specified loan assessment processes without waiving any statutory requirements other than application processing timelines. This section also makes conforming amendments to section 346(b)(2) by inserting ", to the extent practicable" after certain funding allocation deadlines (i.e., April 1 of the fiscal year in subparagraphs (A)(i)(II) and (B)(iii), and September 1 of the fiscal year in subparagraph (A)(iii)).