A bill to amend the Consolidated Farm and Rural Development Act to permit borrowers and grantees to use certain rural development loans and grants for other purposes under certain circumstances.

Amends the Consolidated Farm and Rural Development Act to authorize the Secretary of Agriculture, upon a determination of changed circumstances, to permit a grantee or loan recipient of rural development funds to use property purchased with such funds, or proceeds from the sale of property purchased with such funds, for another qualifying project or activity.