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Code · BILL · 113th Congress · H.R. 2642 (Enrolled) — To provide for the reform and continuation of agricultural and other programs of the Department of Agriculture throug... · Sec. 5104

Sec. 5104. Term limits on direct operating loans

261 words·~1 min read·/bill/113/hr/2642/enr/section-5104·

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Section 311(c) of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1941(c) ) is amended by adding at the end the following: The Secretary shall prepare a report annually that describes— the status of the direct operating loan program of the Department of Agriculture; and the impact of term limits on direct loan borrowers. The report shall provide a demographic breakdown, on a State-by-State basis, of— all direct loan borrowers; and borrowers that have reached the eligibility limit for direct lending programs during the previous calendar year.
The available demographic information shall include, to the maximum extent practicable, a description of race or ethnicity, gender, age, type of farm or ranch, financial classification, number of years of indebtedness, veteran status, and other similar information, as determined by the Secretary. In addition to information described in subparagraph (B), the report shall provide— a demographic analysis of the borrowers impacted by term limits; information on the conditions impacting the direct lending portfolio of the Department of Agriculture, including impacts by region and agriculture sector, and credit availability within those regions and sectors; to the maximum extent practicable, information on the status of borrower operations impacted by term limits; and recommendations, if appropriate, to address any identifiable unmet credit needs.
The Secretary shall— annually submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a copy of the report; and make the report available to the public, including posting the report on the website of the Department of Agriculture. .
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Sec. 5104
Term limits on direct operating loans
U.S.C.§ 1941
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