Capital for Beginning Farmers and Ranchers Act of 2024

S 4441, the Capital for Beginning Farmers and Ranchers Act of 2024, creates a new pilot loan program to help beginning farmers and ranchers make long-term investments. The bill establishes development loans (up to $100,000 with 0-3% interest, 3-10 year terms) for specific "development expenditures" like equipment, soil improvement, branding, or business management systems - replacing current annual operating loans that limit startup funding. Borrowers must receive mandatory training on farm management, bookkeeping, and risk management through existing USDA programs. The pilot program, to launch within two years, will be evaluated biennially and reported to Congress.