; and (B) by inserting cost before inflation percentage ; (2) in subsection (c)— (A) in the subsection heading, by striking Inflation percentage and inserting Cost inflation percentage ; and (B) in the text, by inserting cost before inflation percentage ; and (3) by adding at the end the following: (d) Regional farm real estate inflation percentage (1) In general For purposes of this section, the regional farm real estate inflation percentage applicable to a farm for a fiscal year is the percentage (if any) by which— (A) the regional farm real estate inflation index developed under paragraph (2) for the region in which the farm is located, for the 12-month period ending on August 31 of the immediately preceding fiscal year; exceeds (B) the average of the index (as so defined) for the 12-month period ending on August 31, 2018. (2) Development The Secretary shall develop a regional farm real estate inflation index for measuring periodic changes in the price of farm real estate in each geographic region of the United States, using data from the National Agricultural Statistics Service. (e) Microloans (1) In general Subject to paragraph (2), the Secretary may establish a program to make or guarantee microloans. (2) Limitations The Secretary shall not make or guarantee a microloan under this subsection that would cause the total principal indebtedness outstanding at any 1 time for microloans made under this subtitle to any 1 borrower to exceed $50,000. (3) Applications To the maximum extent practicable, the Secretary shall limit the administrative burdens and streamline the application and approval process for microloans under this subsection. . 202. Cooperative agreements Section 313(c) of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1943(c) ) is amended— (1) in paragraph (2), by striking title and inserting subtitle ; and (2) in paragraph (4)— (A) in the paragraph heading, by striking lending pilot projects and inserting agreements