dreamproit/uscode huggingface dataset:
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: Editorial Notes
heading: References in Text
text: This chapter, referred to in subsec. (a), was in the original “this title”, meaning title III of Pub. L. 87–128, Aug. 8, 1961, 75 Stat. 307, known as the Consolidated Farm and Rural Development Act, which is classified principally to this chapter. For complete classification of title III to the Code, see Short Title note set out under section 1921 of this title and Tables.
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: Editorial Notes
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: Editorial Notes
heading: References in Text
text: This chapter, referred to in subsecs. (a), (b)(5), and (d)(1), (3), was in the original “this title”, meaning title III of Pub. L. 87–128, Aug. 8, 1961, 75 Stat. 307, known as the Consolidated Farm and Rural Development Act, which is classified principally to this chapter. For complete classification of title III to the Code, see Short Title note set out under section 1921 of this title and Tables.
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. § 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: Editorial Notes
heading: References in Text
text: This chapter, referred to in text, was in the original “this title”, meaning title III of Pub. L. 87–128, Aug. 8, 1961, 75 Stat. 307, known as the Consolidated Farm and Rural Development Act, which is classified principally to this chapter. For complete classification of title III to the Code, see Short Title note set out under section 1921 of this title and Tables.
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: Editorial Notes
heading: References in Text
text: This chapter, referred to in text, was in the original “this title”, meaning title III of Pub. L. 87–128, Aug. 8, 1961, 75 Stat. 307, known as the Consolidated Farm and Rural Development Act, which is classified principally to this chapter. For complete classification of title III to the Code, see Short Title note set out under section 1921 of this title and Tables.
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: Statutory Notes and Related Subsidiaries
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. § 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: Editorial Notes
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: Statutory Notes and Related Subsidiaries
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 (AGRICULTURE)
§ 2008a. Equitable relief
(a) In general
Subject to subsection (b), the Secretary may provide a form of relief described in subsection (c) to any farmer or rancher who—
(1) received a direct farm ownership, operating, or emergency loan under this chapter; and
(2) the Secretary determines is not in compliance with the requirements of this chapter with respect to the loan.
(b) Limitation
The Secretary may only provide relief to a farmer or rancher under subsection (a) if the Secretary determines that the farmer or rancher—
(1) acted in good faith; and
(2) relied on an action of, or the advice of, the Secretary (including any authorized representative of the Secretary) to the detriment of the farming or ranching operation of the farmer or rancher.
(c) Forms of relief
The Secretary may provide to a farmer or rancher under subsection (a) any of the following forms of relief:
(1) The farmer or rancher may retain loans or other benefits received in association with the loan with respect to which the farmer or rancher was determined to be noncompliant under subsection (a)(2).
(2) The farmer or rancher may receive such other equitable relief as the Secretary determines to be appropriate.
(d) Condition
As a condition of receiving relief under this section, the Secretary may require the farmer or rancher to take actions designed to remedy the noncompliance.
(e) Administrative appeal; judicial review
A determination or action of the Secretary under this section—
(1) shall be final; and
(2) shall not be subject to administrative appeal or judicial review under chapter 7 of title 5.
(Pub. L. 87–128, title III, § 366, as added Pub. L. 115–334, title V, § 5305, Dec. 20, 2018, 132 Stat. 4672.)
heading: Editorial Notes
heading: References in Text
text: This chapter, referred to in subsec. (a), was in the original “this title”, meaning title III of Pub. L. 87–128, Aug. 8, 1961, 75 Stat. 307, known as the Consolidated Farm and Rural Development Act, which is classified principally to this chapter. For complete classification of title III to the Code, see Short Title note set out under section 1921 of this title and Tables.
heading: Prior Provisions
text: A prior 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, prior to repeal by Pub. L. 104–127, title VII, § 754, Apr. 4, 1996, 110 Stat. 1131.
7 U.S.C. § 2008b (AGRICULTURE)
§ 2008b. Socially disadvantaged farmers and ranchers; qualified beginning farmers and ranchers
In the case of a loan guaranteed by the Secretary under subchapter I or II to a socially disadvantaged farmer or rancher (as defined in section 2003(e) of this title) or a qualified beginning farmer or rancher, the Secretary may provide for a standard guarantee plan, which shall cover an amount equal to 95 percent of the outstanding principal of the loan.
(Pub. L. 87–128, title III, § 367, as added Pub. L. 115–334, title V, § 5306, Dec. 20, 2018, 132 Stat. 4673.)
heading: Editorial Notes
heading: Prior Provisions
text: A prior 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, prior to repeal by Pub. L. 104–127, title VII, § 755, Apr. 4, 1996, 110 Stat. 1131.
7 U.S.C. § 2008c (AGRICULTURE)
§ 2008c. Rural Business-Cooperative Service programs technical assistance and training
(a) In general
The Secretary may make grants to public bodies, private nonprofit corporations, economic development authorities, institutions of higher education, federally recognized Indian Tribes, and rural cooperatives for the purpose of providing or obtaining technical assistance and training to support funding applications for programs carried out by the Secretary, acting through the Administrator of the Rural Business-Cooperative Service.
(b) Purposes
A grant under subsection (a) may be used—
(1) to assist communities in identifying and planning for business and economic development needs;
(2) to identify public and private resources to finance business and small and emerging business needs;
(3) to prepare reports and surveys necessary to request financial assistance for businesses in rural communities; and
(4) to prepare applications for financial assistance.
(c) Selection priority
In selecting recipients of grants under this section, the Secretary shall give priority to grants serving persistent poverty counties and high poverty communities, as determined by the Secretary.
(d) Funding
(1) In general
There is authorized to be appropriated to carry out this section $5,000,000 for each of fiscal years 2019 through 2023, to remain available until expended.
(2) Availability
Any amounts authorized to be appropriated under paragraph (1) for any fiscal year that are not appropriated for that fiscal year may be appropriated for the immediately succeeding fiscal year.
(Pub. L. 87–128, title III, § 368, as added Pub. L. 115–334, title VI, § 6419, Dec. 20, 2018, 132 Stat. 4764.)
heading: Editorial Notes
heading: Prior Provisions
text: A prior 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, prior to repeal by Pub. L. 104–127, title VII, § 756, Apr. 4, 1996, 110 Stat. 1131.
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: Editorial Notes
heading: References in Text
text: This chapter, referred to in text, was in the original “this title”, meaning title III of Pub. L. 87–128, Aug. 8, 1961, 75 Stat. 307, known as the Consolidated Farm and Rural Development Act, which is classified principally to this chapter. For complete classification of title III to the Code, see Short Title note set out under section 1921 of this title and Tables.
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), 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) 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: Statutory Notes and Related Subsidiaries
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: Editorial Notes
heading: References in Text
text: This chapter, referred to in text, was in the original “this title”, meaning title III of Pub. L. 87–128, Aug. 8, 1961, 75 Stat. 307, known as the Consolidated Farm and Rural Development Act, which is classified principally to this chapter. For complete classification of title III to the Code, see Short Title note set out under section 1921 of this title and Tables.
heading: Statutory Notes and Related Subsidiaries
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: Editorial Notes
heading: References in Text
text: This chapter, referred to in text, was in the original “this title”, meaning title III of Pub. L. 87–128, Aug. 8, 1961, 75 Stat. 307, known as the Consolidated Farm and Rural Development Act, which is classified principally to this chapter. For complete classification of title III to the Code, see Short Title note set out under section 1921 of this title and Tables.
heading: Statutory Notes and Related Subsidiaries
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: Editorial Notes
heading: References in Text
text: This chapter, referred to in text, was in the original “this title”, meaning title III of Pub. L. 87–128, Aug. 8, 1961, 75 Stat. 307, known as the Consolidated Farm and Rural Development Act, which is classified principally to this chapter. For complete classification of title III to the Code, see Short Title note set out under section 1921 of this title and Tables.