Sec. 222. Transition to private commercial or other sources of credit
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Section 311(c) of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1941(c) ) is amended— in paragraph (1)— in subparagraph (A), by striking the semicolon at the end and inserting ; and ; in subparagraph (B), by striking ; or at the end and inserting a period; and by striking subparagraph (C); and by striking paragraphs
(3)and
(4)and inserting the following: Subject to paragraph (4), if a farmer or rancher has received a direct operating loan pursuant to this section in each of 9 consecutive years, the farmer or rancher may not receive a direct operating loan from the Secretary under this section for the next year. The Secretary shall waive the limitation under paragraph
(3)for a direct loan made under this subtitle to a farmer or rancher whose farm or ranch land is subject to the jurisdiction of an Indian tribe and whose loan is secured by one or more security instruments that are subject to the jurisdiction of an Indian tribe if the Secretary determines that commercial credit is not generally available for the farm or ranch operations. . Section 319 of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1949 ) is amended by striking subsection
(b)and inserting the following: If a borrower has received a guaranteed loan under this subtitle in each of 15 consecutive years, the borrower may not receive a loan guaranteed by the Secretary for the next year. .
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