This Act may be cited as the Next Generation Farmer Act.

Section 302(b) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1922(b)U.S. Code — Title 7, Section 1922(b)View official source on GovInfo) is amended— (1) in paragraph (1), in the matter preceding subparagraph (A), by striking 3 years and inserting 1 year; and (2) by striking paragraph (4) and inserting the following: (4) Waiver authority In the case of a qualified beginning farmer or rancher, the Secretary may waive the 1-year requirement in paragraph (1) if the farmer or rancher has— (A) at least 1 year of experience as hired farm labor with substantial management responsibilities; or (B) an established relationship with an individual who has experience in farming or ranching, or is a retired farmer or rancher, and is participating as a counselor in a Service Corps of Retired Executives program authorized under section 8(b)(1)(B) of the Small Business Act (15 U.S.C. 637(b)(1)(B)U.S. Code — Title 15, Section 637(b)(1)(B)View official source on GovInfo), or with a local farm or ranch operator or organization, approved by the Secretary, that is committed to mentoring the farmer or rancher..