Sec. 2. Use of loan funds to cover administrative costs
146 words·~1 min read·
/bill/118/hr/9560/ih/section-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 310I of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1936c ) is amended— in subsection (a), by striking relend the funds to individuals and entities and inserting use the funds ; by amending subsection
(c)to read as follows: An eligible entity that receives a loan made by the Secretary pursuant to subsection (a)— shall relend the proceeds from the loan for projects that assist heirs with undivided ownership interests to resolve ownership and succession on farmland that has multiple owners; and may use not more than 30 percent of the amount of the loan to pay administrative costs of relending the proceeds. ; and in subsection (e), by adding at the end the following: The Secretary may forgive, as the Secretary deems appropriate, the amounts of a loan used to pay administrative costs of relending the proceeds from the loan. .
Connectionstraces to 1
Traces to 1 document
Citation graph
cites case law
Sec. 2
Use of loan funds to cover administrative costs
Cites 1Cited by 0 across 0 sources