1. Short title This Act may be cited as the Farm Credit Administration Independent Authority Act . 2. Farmer loan data collection (a) In general The Farm Credit Act of 1971 ( 12 U.S.C. 2001 et seq. ) is amended by inserting after section 4.19 the following: 4.20. Small farmer loan data collection (a) Purpose The purpose of this section is to affirm that the Farm Credit Administration is the sole and independent regulator of the Farm Credit System. (b) Definition In this section, the term small farmer means a small farmer, rancher, or producer or harvester of aquatic products as defined pursuant to section 4.19. (c) Collection of demographic data by Farm Credit System lenders Notwithstanding any other provision of law, Farm Credit System institutions, pursuant to regulations promulgated by the Farm Credit Administration, shall— (1) request that loan applicants and borrowers that are small farmers disclose information identifying their race, sex, and ethnicity; (2) collect and maintain the information resulting from the requests; and (3) report to the Farm Credit Administration on an annual basis the information collected pursuant to the requests. (d) Directions to the Farm Credit Administration The Farm Credit Administration— (1) shall collect the information gathered by Farm Credit System institutions under this section and make the information available to the public on an annual basis