Sec. 12617. Use of additional Commodity Credit Corporation funds for direct operating microloans under certain conditions
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Section 346(b) of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1994(b) ) is amended by adding at the end the following: If the Secretary determines that the amount needed for a fiscal year for direct operating loans (including microloans) under subtitle B is greater than the aggregate principal amount authorized for that fiscal year by this Act, an appropriations Act, or any other provision of law, the Secretary shall make additional microloans under subtitle B using amounts made available under subparagraph (B).
Of the funds of the Commodity Credit Corporation, the Secretary shall use to make microloans under subtitle B, under the conditions described in subparagraph (A), not more than $5,000,000 for the period of fiscal years 2019 through 2023. Not later than 15 days before the date on which the Secretary uses the authority under subparagraphs
(A)and (B), the Secretary shall submit a notice of the use of that authority to— the Committee on Appropriations of the House of Representatives; the Committee on Appropriations of the Senate; the Committee on Agriculture of the House of Representatives; and the Committee on Agriculture, Nutrition, and Forestry of the Senate. .
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Sec. 12617
Use of additional Commodity Credit Corporation funds for direct operating microloans under certain conditions
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