To offer persistent poverty counties and political subdivisions of such counties the opportunity to have their rural development loans restructured.

This bill allows persistent poverty counties and political subdivisions of the counties to restructure certain Department of Agriculture rural development loans so that the interest rate is 0% and the loan term is 40 years.

A "persistent poverty county" is a county that has had at least 20% of its population living in poverty over the past 30 years, as measured by the 1990, 2000, and 2010 decennial censuses.