582 
‘‘(i) beginning on August 1 of each 
fiscal year, the Secretary shall use avail-
able unsubsidized guaranteed farm oper-
ating loan funds to provide direct farm 
ownership loans approved by the Secretary 
to qualified beginning farmers under the 
down payment loan program established 
under section 3107, if sufficient direct 
farm ownership loan funds are not other-
wise available; and 
‘‘(ii) beginning on September 1 of 
each fiscal year, the Secretary shall use 
available unsubsidized guaranteed farm op-
erating loan funds to provide direct farm 
ownership loans approved by the Secretary 
to qualified beginning farmers, if sufficient 
direct farm ownership loan funds are not 
otherwise available. 
‘‘(B) LIMITATION.—The Secretary shall 
limit the transfer of funds under subparagraph 
(A) so that all guaranteed farm operating loans 
that have been approved, or will be approved, 
by the Secretary during the fiscal year will be 
made to the extent of available amounts. 
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583 
‘‘(4) TRANSFER FOR CREDIT SALES OF FARM 
INVENTORY PROPERTY.— 
‘‘(A) IN
GENERAL.—Subject to subpara-
graphs (B) and (C), beginning on September 1 
of each fiscal year, the Secretary may use avail-
able funds made available under chapter 3 for 
the fiscal year to fund the credit sale of farm 
real estate in the inventory of the Secretary. 
‘‘(B) SUPPLEMENTAL APPROPRIATIONS.— 
The transfer authority provided under subpara-
graph (A) shall not apply to any funds made 
available to the Secretary for any fiscal year 
under an Act making supplemental appropria-
tions. 
‘‘(C) LIMITATION.—The Secretary shall 
limit the transfer of funds under subparagraph 
(A) so that all emergency disaster loans that 
have been approved, or will be approved, by the 
Secretary during the fiscal year will be made to 
the extent of available amounts. 
‘‘(5) AVAILABILITY OF FUNDS.—Funds made 
available to carry out this subtitle shall remain avail-
able until expended. 
‘‘(b) COST PROJECTIONS.— 
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‘‘(1) IN GENERAL.—The Secretary shall develop 
long-term cost projections for loan program author-
izations required under subsection (a). 
‘‘(2) ANALYSIS.—Each projection under para-
graph (1) shall include analyses of— 
‘‘(A) the long-term costs of the lending lev-
els that the Secretary requests to be authorized 
under subsection (a); and 
‘‘(B) the long-term costs for increases in 
lending levels beyond those requested to be au-
thorized, based on increments of $10,000,000 
or such other levels as the Secretary considers 
appropriate. 
‘‘(3) SUBMISSION
TO
CONGRESS.—The Sec-
retary shall submit to the Committees on Agri-
culture and Appropriations of the House of Rep-
resentatives and the Committees on Agriculture, Nu-
trition, and Forestry and Appropriations of the Sen-
ate reports containing the long-term cost projections 
for the 3-year period beginning with fiscal year 1983 
and each 3-year period thereafter at the time the re-
quests for authorizations for those periods are sub-
mitted to Congress. 
‘‘(c) 
LOW-INCOME, 
LIMITED-RESOURCE
BOR-
ROWERS.— 
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585 
‘‘(1) RESERVE.—Notwithstanding any other 
provision of law, not less than 25 percent of the 
loans for farm ownership purposes for each fiscal 
year under this subtitle shall be for low-income, lim-
ited-resource borrowers. 
‘‘(2) NOTIFICATION.—The Secretary shall pro-
vide notification to farm borrowers under this sub-
title in the normal course of loan making and loan 
servicing operations, of the provisions of this subtitle 
relating to low-income, limited-resource borrowers 
and the procedures by which persons may apply for 
loans under the low-income, limited-resource bor-
rower program.’’. 
Subtitle B—Miscellaneous 
SEC. 5101. STATE AGRICULTURAL MEDIATION PROGRAMS. 
Section 506 of the Agricultural Credit Act of 1987 
(7 U.S.C. 5106) is amended by striking ‘‘2015’’ and in-
serting ‘‘2018’’. 
SEC. 
5102. 
LOANS 
TO 
PURCHASERS 
OF 
HIGHLY 
FRACTIONATED LAND. 
(a) IN GENERAL.—The first sentence of Public Law 
91–229 (25 U.S.C. 488) is amended— 
(1) in subsection (a), in the first sentence, by 
striking ‘‘loans from’’ and all that follows through 
‘‘1929)’’ and inserting ‘‘direct loans in a manner 
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