HR6277-119

2. Timber Production Expansion Guaranteed Loan Program In this section: The term eligible entity means an individual or entity that owns or operates a sawmill or other wood-processing facility located in a rural area (as defined in section 343(a) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1991(a))) of the United States. The term eligible Federal land means any unit of Federal land, including Indian forest land or rangeland, that has been identified by the Secretary, in coordination with the Secretary of the Interior, as high or very high priority for ecological restoration involving vegetation removal under subsection (b). The term Program means the Timber Production Expansion Guaranteed Loan Program of the Department of Agriculture. The term Secretary means the Secretary of Agriculture. Not later than 1 year after the date of enactment of this Act, and not less frequently than once every 5 years thereafter, the Secretary, in coordination with the Secretary of the Interior, shall— review Federal land under the jurisdiction of the Secretary or the Secretary of the Interior; and identify units of Federal land that, as determined by the Secretaries, are high or very high priority for ecological restoration involving vegetation removal. The Secretary, in coordination with the Secretary of the Interior, shall provide loan guarantees under the Program to eligible entities seeking to establish, reopen, retrofit, expand, or improve a sawmill or other wood-processing facility located within a 250-mile radius of, a unit of eligible Federal land, if the presence of a sawmill or other wood-processing facility would, or does, substantially decrease the cost of conducting ecological restoration projects involving vegetation removal on the eligible Federal land, as determined by the Secretary, in coordination with the Secretary of the Interior. A loan guarantee under the Program shall be provided in accordance with such conditions as the Secretary determines to be necessary. The Secretary may provide a total of not more than $220,000,000 in loan guarantees under the Program.