dreamproit/uscode huggingface dataset:
7 U.S.C. § 1998 (AGRICULTURE)
§ 1998. Guaranteed farm loan programs
Notwithstanding any other provision of this chapter, the Secretary shall ensure that farm loan guarantee programs carried out under this chapter are designed so as to be responsive to borrower and lender needs and to include provisions under reasonable terms and conditions for advances, before completion of the liquidation process, of guarantee proceeds on loans in default.
(Pub. L. 87–128, title III, § 350, as added Pub. L. 99–198, title XIII, § 1319, Dec. 23, 1985, 99 Stat. 1531.)
heading: References in Text
text: For definition of “this chapter”, referred to in text, see note set out under section 1921 of this title.
7 U.S.C. § 2001a (AGRICULTURE)
§ 2001a. Debt restructuring and loan servicing for community facility loans
The Secretary shall establish and implement a program that is similar to the program established under section 2001 of this title, except that the debt restructuring and loan servicing procedures shall apply to delinquent community facility program loans (rather than delinquent farmer program loans) made by the Farmers Home Administration to a hospital or health care facility under section 1926(a) of this title.
(Pub. L. 87–128, title III, § 353A, as added Pub. L. 101–624, title XXIII, § 2384(a), Nov. 28, 1990, 104 Stat. 4050.)
heading: Regulations
text: Pub. L. 101–624, title XXIII, § 2384(b), Nov. 28, 1990, 104 Stat. 4050, provided that: “Not later than 120 days after the date of enactment of this Act [Nov. 28, 1990], the Secretary shall promulgate regulations, modeled after those promulgated under such section 353 [7 U.S.C. 2001], that implement the program established under section 353A of the Consolidated Farm and Rural Development Act [7 U.S.C. 2001a].”
7 U.S.C. § 2002 (AGRICULTURE)
§ 2002. Transfer of inventory lands
(a) In general
Subject to subsection (b) of this section, the Secretary may transfer to any Federal or State agency, for conservation purposes any real property, or interest therein, administered by the Secretary under this Act—
(1) with respect to which the rights of all prior owners and operators have expired;
(2) that is eligible to be disposed of in accordance with section 1985 of this title; and
(3) that—
(A) has marginal value for agricultural production;
(B) is environmentally sensitive; or
(C) has special management importance.
(b) Conditions
The Secretary may not transfer any property or interest in property under subsection (a) of this section unless—
(1) at least 2 public notices are given of the transfer;
(2) if requested, at least 1 public meeting is held prior to the transfer; and
(3) the Governor and at least 1 elected county official of the State and county where the property is located are consulted prior to the transfer.
(Pub. L. 87–128, title III, § 354, as added Pub. L. 100–233, title VI, § 616, Jan. 6, 1988, 101 Stat. 1682; amended Pub. L. 104–127, title VI, § 646, Apr. 4, 1996, 110 Stat. 1103.)
heading: References in Text
text: This Act, referred to in subsec. (a), refers to the Agricultural Act of 1961, Pub. L. 87–128, Aug. 8, 1961, 75 Stat. 294, as amended. For classification of this Act to the Code, see Short Title note set out under section 1911 of this title and Tables. However, the reference was probably intended to be “this title” meaning the Consolidated Farm and Rural Development Act, title III of Pub. L. 87–128, as amended, which is classified principally to this chapter. For classification of this title to the Code, see Short Title note set out under section 1921 of this title and Tables.
heading: Amendments
text: 1996—Pub. L. 104–127 designated existing provisions as subsec. (a), inserted heading, substituted “Subject to subsection (b) of this section, the Secretary” for “The Secretary, without reimbursement,” in introductory provisions, added par. (2) and struck out former par. (2) which read as follows: “that is determined by the Secretary to be suitable or surplus; and”, and added subsec. (b).
7 U.S.C. § 2004 (AGRICULTURE)
§ 2004. Expedited clearing of title to inventory property
The Farmers Home Administration may employ local attorneys, on a case-by-case basis, to process all legal procedures necessary to clear the title to foreclosed properties in the inventory of the Farmers Home Administration. Such attorneys shall be compensated at not more than their usual and customary charges for such work.
(Pub. L. 87–128, title III, § 356, as added Pub. L. 100–233, title VI, § 618, Jan. 6, 1988, 101 Stat. 1683.)
7 U.S.C. § 2005 (AGRICULTURE)
§ 2005. Payment of losses on guaranteed loans
(a) Payments to lenders
(1) Requirement
Within 3 months after a court of competent jurisdiction confirms a plan of reorganization under chapter 12 of title 11, for any borrower to whom a lender has made a loan guaranteed under this chapter, the Secretary shall pay the lender an amount estimated by the Secretary to be equal to the loss incurred by the lender for purposes of the guarantee.
(2) Payment toward loan guarantee
Any amount paid to a lender under this subsection with respect to a loan guaranteed under this chapter shall be treated as payment towards satisfaction of the loan guarantee.
(b) Administration
(1) Loss by lender
If the lender of a guaranteed farmer program loan takes any action described in section 1981(b)(4) of this title with respect to the loan and the Secretary approves such action, then, for purposes of the guarantee, the lender shall be treated as having sustained a loss equal to the amount by which—
(A) the outstanding balance of the loan immediately before such action, exceeds
(B) the outstanding balance of the loan immediately after such action.
(2) Net present value of loan
The Secretary shall approve the taking of an action described in section 1981(b)(4) of this title by the lender of a guaranteed farmer program loan with respect to the loan if such action reduces the net present value of the loan to an amount equal to not less than the greater of—
(A) the greatest net present value of a loan the borrower could reasonably be expected to repay; and
(B) the greatest amount that the lender of the loan could reasonably expect to recover from the borrower through bankruptcy, or liquidation of the property securing the loan, less all reasonable and necessary costs and expenses that the lender of the loan could reasonably expect to incur to preserve or dispose of such property (including all associated legal and property management costs) in the course of such a bankruptcy or liquidation.
(3) Construction of subsection
This subsection shall not be construed to limit the authority of the Secretary to enter into a shared appreciation arrangement with a borrower, or the terms and conditions which shall be required of a borrower, under section 2001(e) of this title.
(Pub. L. 87–128, title III, § 357, as added Pub. L. 100–233, title VI, § 619, Jan. 6, 1988, 101 Stat. 1683; amended Pub. L. 101–624, title XXIII, § 2388(d)(2), Nov. 28, 1990, 104 Stat. 4053.)
heading: References in Text
text: For definition of “this chapter”, referred to in subsec. (a), see note set out under section 1921 of this title.
heading: Amendments
text: 1990—Subsec. (b)(1), (2). Pub. L. 101–624 substituted “1981(b)(4)” for “1981(d)”.
7 U.S.C. § 2006 (AGRICULTURE)
§ 2006. Waiver of mediation rights by borrowers
The Secretary may not make, insure, or guarantee any farmer program loan to a farm borrower on the condition that the borrower waive any right under the mediation program of any State.
(Pub. L. 87–128, title III, § 358, as added Pub. L. 100–233, title V, § 512, Jan. 6, 1988, 101 Stat. 1664; amended Pub. L. 103–354, title II, § 282(f)(3), Oct. 13, 1994, 108 Stat. 3235.)
heading: Amendments
text: 1994—Pub. L. 103–354 struck out “agricultural loan” before “mediation program”.
7 U.S.C. § 2006b (AGRICULTURE)
§ 2006b. Loan assessments
(a) In general
The Secretary shall evaluate, in accordance with regulations issued by the Secretary, the farming plan and financial situation of each qualified farmer or rancher applicant.
(b) Determinations
In evaluating the farming plan and financial situation of an applicant under this section, the Secretary shall determine—
(1) the amount that the applicant will need to borrow to carry out the proposed farming plan;
(2) the rate of interest that the applicant would need to be able to cover expenses and build an adequate equity base;
(3) the goals of the proposed farming plan of the applicant;
(4) the financial viability of the plan and any changes that are necessary to make the plan viable; and
(5) whether assistance is necessary under this chapter and, if so, the amount of the assistance.
(c) Contract
The Secretary may contract with a third party (including those entities eligible to provide borrower training under section 2006a(b) of this title) to conduct loan assessments under this section.
(d) Review of loans
(1) In general
Loan assessments conducted under this section shall include annual review of direct loans, and periodic review (as determined necessary by the Secretary) of guaranteed loans, made under this chapter to assess the progress of a borrower in meeting the goals for the farm or ranch operation.
(2) Contracts
The Secretary may contract with an entity that is eligible to provide borrower training under section 2006a(b) of this title to conduct loan reviews under paragraph (1).
(3) Problem assessments
If a borrower is delinquent in payments on a direct or guaranteed loan made under this chapter, the Secretary or the contracting entity shall determine the cause of, and action necessary to correct, the delinquency.
(e) Guidelines
The Secretary shall issue regulations providing guidelines for loan assessments conducted under this section.
(Pub. L. 87–128, title III, § 360, as added Pub. L. 101–624, title XVIII, § 1819, Nov. 28, 1990, 104 Stat. 3830; amended Pub. L. 107–171, title V, §§ 5317, 5318, May 13, 2002, 116 Stat. 348.)
heading: References in Text
text: For definition of “this chapter”, referred to in subsecs. (a), (b)(5), and (d)(1), (3), see note set out under section 1921 of this title.
heading: Amendments
text: 2002—Subsec. (a). Pub. L. 107–171, § 5317, substituted “The Secretary” for “After an applicant is determined eligible for assistance under this chapter by the appropriate county committee established pursuant to section 1982 of this title, the Secretary”.
Subsec. (d)(1). Pub. L. 107–171, § 5318, substituted “annual review” for “biannual review”.
7 U.S.C. § 2006c (AGRICULTURE)
§ 2006c. Supervised credit
The Secretary shall provide adequate training to employees of the Farmers Home Administration on credit analysis and financial and farm management to—
(1) better acquaint the employees with what constitutes adequate financial data on which to base a direct or guaranteed loan approval decision; and
(2) ensure proper supervision of farmer program loans.
(Pub. L. 87–128, title III, § 361, as added Pub. L. 101–624, title XVIII, § 1820, Nov. 28, 1990, 104 Stat. 3830.)
7 U.S.C. § 2006d (AGRICULTURE)
§ 2006d. Market placement
The Secretary shall establish a market placement program for qualified beginning farmers and ranchers and other borrowers of farmer program loans that the Secretary believes have a reasonable chance of qualifying for commercial credit with a guarantee provided under this chapter.
(Pub. L. 87–128, title III, § 362, as added Pub. L. 101–624, title XVIII, § 1821, Nov. 28, 1990, 104 Stat. 3831.)
heading: References in Text
text: For definition of “this chapter”, referred to in text, see note set out under section 1921 of this title.
7 U.S.C. § 2006e (AGRICULTURE)
§ 2006e. Prohibition on use of loans for certain purposes
The Secretary shall not approve any loan under this chapter to drain, dredge, fill, level, or otherwise manipulate a wetland (as defined in section 3801(a)(16) 1 of title 16), or to engage in any activity that results in impairing or reducing the flow, circulation, or reach of water, except in the case of activity related to the maintenance of previously converted wetlands, or in the case of such activity that is already commenced before November 28, 1990. This section shall not apply to a loan made or guaranteed under this chapter for a utility line.
(Pub. L. 87–128, title III, § 363, as added Pub. L. 101–624, title XVIII, § 1824, Nov. 28, 1990, 104 Stat. 3831; amended Pub. L. 102–237, title V, § 501(i), Dec. 13, 1991, 105 Stat. 1868; Pub. L. 104–127, title VII, § 751, Apr. 4, 1996, 110 Stat. 1129.)
heading: References in Text
text: For definition of “this chapter”, referred to in text, see note set out under section 1921 of this title.
Section 3801(a) of title 16, referred to in text, was subsequently amended, and section 3801(a)(16) no longer defines the term “wetland”. However, such term is defined elsewhere in that section.
heading: Amendments
text: 1996—Pub. L. 104–127 inserted at end “This section shall not apply to a loan made or guaranteed under this chapter for a utility line.”
1991—Pub. L. 102–237 inserted a closing parenthesis after “3801(a)(16) of title 16” and substituted “before November 28, 1990” for “prior to the date of enactment of this section”.
heading: Effective Date of 1991 Amendment
text: Amendment by Pub. L. 102–237 effective as if included in the provision of the Food, Agriculture, Conservation, and Trade Act of 1990, Pub. L. 101–624, to which the amendment relates, see section 1101(b)(3) of Pub. L. 102–237, set out as a note under section 1421 of this title.
7 U.S.C. § 2007 to 2007e (AGRICULTURE)
§§ 2007 to 2007e. Repealed. Pub. L. 104–127, title VII, § 701, Apr. 4, 1996, 110 Stat. 1108
text: Section 2007, Pub. L. 101–624, title XXIII, § 2310, Nov. 28, 1990, 104 Stat. 3982, related to general provisions for programs under former sections 2007a to 2007e and 2008 to 2008c of this title, including applications, selection of States, duration of projects, and effective dates.
text: Section 2007a, Pub. L. 101–624, title XXIII, § 2311, Nov. 28, 1990, 104 Stat. 3982; Pub. L. 102–237, title VII, § 702(b), Dec. 13, 1991, 105 Stat. 1880, defined terms for purposes of former sections 2007a to 2007e of this title.
text: Section 2007b, Pub. L. 101–624, title XXIII, § 2312, Nov. 28, 1990, 104 Stat. 3984, related to establishment and powers of Rural Partnerships Investment Board.
text: Section 2007c, Pub. L. 101–624, title XXIII, § 2313, Nov. 28, 1990, 104 Stat. 3986; Pub. L. 102–237, title VII, § 702(c), Dec. 13, 1991, 105 Stat. 1880, established Rural Business Investment Fund.
text: Section 2007d, Pub. L. 101–624, title XXIII, § 2314, Nov. 28, 1990, 104 Stat. 3991; Pub. L. 102–237, title VII, § 702(d), Dec. 13, 1991, 105 Stat. 1880, related to establishment of local revolving funds.
text: Section 2007e, Pub. L. 101–624, title XXIII, § 2315, Nov. 28, 1990, 104 Stat. 3994; Pub. L. 102–237, title VII, § 702(e), Dec. 13, 1991, 105 Stat. 1880, related to compliance with and enforcement of former sections 2007a to 2007e of this title and regulations promulgated thereunder.
7 U.S.C. § 2008 (AGRICULTURE)
§ 2008. Rural development and farm loan program activities
The Secretary may not complete a study of, or enter into a contract with a private party to carry out, without specific authorization in a subsequent Act of Congress, a competitive sourcing activity of the Secretary, including support personnel of the Department of Agriculture, relating to rural development or farm loan programs.
(Pub. L. 87–128, title III, § 365, as added Pub. L. 110–234, title V, § 5306, May 22, 2008, 122 Stat. 1153, and Pub. L. 110–246, § 4(a), title V, § 5306, June 18, 2008, 122 Stat. 1664, 1915.)
heading: Codification
text: Pub. L. 110–234 and Pub. L. 110–246 enacted identical sections. Pub. L. 110–234 was repealed by section 4(a) of Pub. L. 110–246.
heading: Prior Provisions
text: A prior section 2008, Pub. L. 87–128, title III, § 365, as added Pub. L. 101–624, title XXIII, § 2316(a), Nov. 28, 1990, 104 Stat. 4000; amended Pub. L. 102–237, title VII, § 701(e), Dec. 13, 1991, 105 Stat. 1879, related to system for delivery of certain rural development programs, prior to repeal by Pub. L. 104–127, title VII, § 753(a), Apr. 4, 1996, 110 Stat. 1131.
heading: Effective Date
text: Enactment of this section and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective May 22, 2008, the date of enactment of Pub. L. 110–234, see section 4 of Pub. L. 110–246, set out as a note under section 8701 of this title.
7 U.S.C. § 2008a to 2008c (AGRICULTURE)
§§ 2008a to 2008c. Repealed. Pub. L. 104–127, title VII, §§ 754–756, Apr. 4, 1996, 110 Stat. 1131
text: Section 2008a, Pub. L. 87–128, title III, § 366, as added Pub. L. 101–624, title XXIII, § 2316(a), Nov. 28, 1990, 104 Stat. 4004; amended Pub. L. 102–237, title VII, § 701(f), Dec. 13, 1991, 105 Stat. 1879, related to State rural economic development review panel.
text: Section 2008b, Pub. L. 87–128, title III, § 367, as added Pub. L. 101–624, title XXIII, § 2317, Nov. 28, 1990, 104 Stat. 4008; amended Pub. L. 102–237, title VII, § 701(g), Dec. 13, 1991, 105 Stat. 1879, related to limited transfer authority of loan amounts.
text: Section 2008c, Pub. L. 87–128, title III, § 368, as added Pub. L. 101–624, title XXIII, § 2317, Nov. 28, 1990, 104 Stat. 4009, related to allocation and transfer of loan guarantee authority.
7 U.S.C. § 2008d (AGRICULTURE)
§ 2008d. Recordkeeping of loans by borrower’s gender
The Secretary shall classify, by gender, records of applicants for loans and loan guarantees under this chapter.
(Pub. L. 87–128, title III, § 369, as added Pub. L. 102–554, § 21(c), Oct. 28, 1992, 106 Stat. 4161.)
heading: References in Text
text: For definition of “this chapter”, referred to in text, see note set out under section 1921 of this title.
7 U.S.C. § 2008e (AGRICULTURE)
§ 2008e. Prohibition under rural development programs
(a) Prohibition
Assistance under any rural development program administered by the Rural Development Administration, the Farmers Home Administration, the Rural Electrification Administration, or any other agency of the Department of Agriculture shall not be conditioned on any requirement that the recipient of such assistance accept or receive electric service from any particular utility, supplier, or cooperative.
(b) Ensuring compliance
The Secretary shall establish, by regulation, adequate safeguards to ensure that assistance under such rural development programs is not subject to such a condition. Such safeguards shall include periodic certifications and audits, and appropriate measures and sanctions against any person violating, or attempting to violate, the prohibition in subsection (a) of this section.
(c) Regulations
Not later than 6 months after November 1, 1993, the Secretary shall issue interim final regulations to ensure compliance with subsection (a) of this section.
(Pub. L. 87–128, title III, § 370, as added Pub. L. 103–129, § 5, Nov. 1, 1993, 107 Stat. 1366.)
7 U.S.C. § 2008f (AGRICULTURE)
§ 2008f. Crop insurance requirement
(a) In general
As a condition of obtaining any benefit (including a direct loan, loan guarantee, or payment) described in subsection (b) of this section, a borrower must obtain at least catastrophic risk protection insurance coverage under section 1508 of this title for the crop and crop year for which the benefit is sought, if the coverage is offered by the Corporation.
(b) Applicable benefits
Subsection (a) of this section shall apply to—
(1) a farm ownership loan (FO) under section 1923 of this title;
(2) an operating loan (OL) under section 1942 of this title; and
(3) an emergency loan (EM) under section 1961 of this title.
(Pub. L. 87–128, title III, § 371, as added Pub. L. 103–354, title I, § 119(b), Oct. 13, 1994, 108 Stat. 3208.)
heading: Effective Date
text: Section effective Oct. 13, 1994, and applicable to provision of crop insurance under Federal Crop Insurance Act (7 U.S.C. 1501 et seq.) beginning with 1995 crop year, with such Act, as in effect on the day before Oct. 13, 1994, to continue to apply with respect to 1994 crop year, see section 120 of Pub. L. 103–354, set out as an Effective Date of 1994 Amendment note under section 1502 of this title.
7 U.S.C. § 2008g (AGRICULTURE)
§ 2008g. Payment of interest as condition of loan servicing for borrowers
The Secretary may not reschedule or reamortize a loan for a borrower under this chapter who has not requested consideration under section 1981d(e) of this title unless the borrower pays a portion, as determined by the Secretary, of the interest due on the loan.
(Pub. L. 87–128, title III, § 372, as added Pub. L. 104–127, title VI, § 648(a), Apr. 4, 1996, 110 Stat. 1104.)
heading: References in Text
text: For definition of “this chapter”, referred to in text, see note set out under section 1921 of this title.
heading: Effective Date
text: Section effective 90 days after Apr. 4, 1996, see section 663(b) of Pub. L. 104–127, set out as an Effective Date of 1996 Amendment note under section 1922 of this title.
7 U.S.C. § 2008i (AGRICULTURE)
§ 2008i. Short form certification of farm program borrower compliance
The Secretary shall develop and utilize a consolidated short form for farm program borrowers to use in certifying compliance with any applicable provision of law (including a regulation) that serves as an eligibility prerequisite for a loan made under this chapter.
(Pub. L. 87–128, title III, § 374, as added Pub. L. 104–127, title VI, § 649, Apr. 4, 1996, 110 Stat. 1105.)
heading: References in Text
text: For definition of “this chapter”, referred to in text, see note set out under section 1921 of this title.
heading: Effective Date
text: Section effective 90 days after Apr. 4, 1996, see section 663(b) of Pub. L. 104–127, set out as an Effective Date of 1996 Amendment note under section 1922 of this title.
7 U.S.C. § 2008k (AGRICULTURE)
§ 2008k. Making and servicing of loans by personnel of State, county, or area committees
The Secretary shall use personnel of a State, county or area committee established under section 590h(b)(5) of title 16 to make and service loans under this chapter to the extent the personnel have been trained to do so.
(Pub. L. 87–128, title III, § 376, as added Pub. L. 107–171, title V, § 5320, May 13, 2002, 116 Stat. 349.)
heading: References in Text
text: For definition of “this chapter”, referred to in text, see note set out under section 1921 of this title.
7 U.S.C. § 2008l (AGRICULTURE)
§ 2008l. Eligibility of employees of State, county, or area committee for loans and loan guarantees
(a) In general
The Secretary shall not prohibit an employee of a State, county or area committee established under section 590h(b)(5) of title 16 or an employee of the Department of Agriculture from obtaining a loan or loan guarantee under subchapter I, II or III of this chapter.
(b) Approvals
(1) County or area office
In the case of a loan application from an employee in a county or area office, the Farm Service Agency State office shall be responsible for reviewing and approving the application.
(2) State office
In the case of a loan application from an employee of a State office, the Farm Service Agency national office shall be responsible for reviewing and approving the application.
(Pub. L. 87–128, title III, § 377, as added Pub. L. 107–171, title V, § 5321, May 13, 2002, 116 Stat. 349.)