Sec. 7. Modification of rental rate
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Section 1235(c) of the Food Security Act of 1985 ( 16 U.S.C. 3835(c) ) is amended by adding at the end the following: With respect to a contract entered into under this subchapter for a term of 30 years pursuant to section 1231(e)(3)— on or after the date that is 10 years after the date on which the contract is entered into, the owner or operator may submit to the Secretary a request for a modification of the rental rate under subparagraph (B); and on receipt of a request under subparagraph (A), the Secretary shall— recalculate the annual rental payment amount for the contract based on the applicable rental rate published from the most recent annual survey conducted under section 1234(d)(4)(A); and modify the contract by applying the amount recalculated under clause
(i)to each year remaining in the term of the contract. .
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Sec. 7
Modification of rental rate
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