§ 1936c. Relending program to resolve ownership and succession on farmland
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/usc/title-7/section-1936cA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In general The Secretary may make loans to eligible entities described in subsection
(b)so that the eligible entities may relend the funds to individuals and entities for the purposes described in subsection (c).
(b)Eligible entities Entities eligible for loans described in subsection
(a)are cooperatives, credit unions, and nonprofit organizations with—
(1)certification under section 1805.201 of title 12, Code of Federal Regulations (or successor regulations), to operate as a lender;
(2)experience assisting socially disadvantaged farmers and ranchers (as defined in subsection
(a)of section 2279 of this title) or limited resource or new and beginning farmers and ranchers, rural businesses, cooperatives, or credit unions, including experience in making and servicing agricultural and commercial loans; and
(3)the ability to provide adequate assurance of the repayment of a loan.
(c)Eligible purposes The proceeds from loans made by the Secretary pursuant to subsection
(a)shall be re-lent by eligible entities for projects that assist heirs with undivided ownership interests to resolve ownership and succession on farmland that has multiple owners.
(d)Preference In making loans under subsection (a), the Secretary shall give preference to eligible entities—
(1)with not less than 10 years of experience serving socially disadvantaged farmers and ranchers; and
(2)in States that have adopted a statute consisting of an enactment or adoption of the Uniform Partition of Heirs Property Act, as approved and recommended for enactment in all States by the National Conference of Commissioners on Uniform State Laws in 2010, that relend to owners of heirs property (as defined in that Act).
(e)Loan terms and conditions The following terms and conditions shall apply to loans made under this section:
(1)The interest rate at which intermediaries may borrow funds under this section shall be determined by the Secretary.
(2)The rates, terms, and payment structure for borrowers to which intermediaries lend shall be—
(A)determined by the intermediary in an amount sufficient to cover the cost of operating and sustaining the revolving loan fund; and
(B)clearly and publicly disclosed to qualified ultimate borrowers.
(3)Borrowers to which intermediaries lend shall be—
(A)required to complete a succession plan as a condition of the loan; and
(B)be offered the opportunity to borrow sufficient funds to cover costs associated with the succession plan under subparagraph
(A)and other associated legal and closing costs.
(f)Report Not later than 1 year after December 20, 2018, the Secretary shall submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a report describing the operation and outcomes of the program under this section, with recommendations on how to strengthen the program.
(g)Authorization of appropriations There is authorized to be appropriated to carry out this section $10,000,000 for each of fiscal years 2019 through 2023.
(Pub. L. 87–128, title III, § 310I, as added Pub. L. 115–334, title V, § 5104, Dec. 20, 2018, 132 Stat. 4669.)
Connections51 cite this · traces to 2
Cited by 51 sections · top 40
public-private-law
statute-compilations
- Sec. 6ADJUSTMENTS TO COMPENSATION
- Sec. 9OFFICE OF MANAGEMENT AND BUDGET REPORTING REQUIREMENT
- Sec. 310IRELENDING PROGRAM TO RESOLVE OWNERSHIP AND SUCCESSION ON FARMLAND
- Sec. 413None of the funds made available by this Act may be used by the Secretary of Veterans Affairs under section 5502 of title 38, United States Code, in any case arising out of the administration by the Secretary of laws and benefits under such title, to report a person who is deemed mentally incapacitated, mentally incompetent, or to be experiencing an extended loss of consciousness as a person who has been adjudicated as a mental defective under subsection (d)(4) or (g)(4) of section 922 of title 18, United States Code, without the order or finding of a judge, magistrate, or other judicial authority of competent jurisdiction that such person is a danger to himself or herself or others.
- Sec. 530Of amounts deposited in the Child Enrollment Contingency Fund prior to the beginning of fiscal year 2020 under section 2104(n)(2) of the Social Security Act and the income derived from investment of those funds pursuant to section 2104(n)(2)(C) of that Act, $6,093,181,000 shall not be available for obligation in this fiscal year.
- Sec. 5104RELENDING PROGRAM TO RESOLVE OWNERSHIP AND SUCCESSION ON FARMLAND
statutes-at-large
- Public Law 117–103Making consolidated appropriations for the fiscal year ending September 30, 2022, and for providing emergency assistance for the situation in Ukraine, and for other purposes
- Public Law 115–334To provide for the reform and continuation of agricultural and other programs of the Department of Agriculture through fiscal year 2023, and for other purposes
- Public Law 116–260Making consolidated appropriations for the fiscal year ending September 30, 2021, providing coronavirus emergency response and relief, and for other purposes
- Public Law 116–94Making further consolidated appropriations for the fiscal year ending September 30, 2020, and for other purposes
- Public Law 117–328Making consolidated appropriations for the fiscal year ending September 30, 2023, and for providing emergency assistance for the situation in Ukraine, and for other purposes
bill
- Sec. 775
- Sec. 775
- Sec. 775
- Sec. 401Protections for land ownership
- Sec. 401Protections for land ownership
- Sec. 3Composting grant and loan guarantee program
- Sec. 5Additional assistance for socially disadvantaged farmers and ranchers and socially disadvantaged groups
- Sec. 401Protections for land ownership
- Sec. 401Protections for land ownership
- Sec. 3Composting grant and loan guarantee program
- Sec. 401Protections for land ownership
- Sec. 2Reauthorization of the heirs property intermediary relending program
- Sec. 3Cooperative agreements for heirs property resolution through direct public interest legal services
- Sec. 5108Heirs property
- Sec. 2Use of loan funds to cover administrative costs
- Sec. 3Extension of authorization
- Sec. 5106Support for resolving ownership and succession issues relating to farmland
- Sec. 5109Heirs property
- Sec. 5109Heirs property
- Sec. 2Reauthorization of the heirs property intermediary relending program
- Sec. 3Cooperative agreements for heirs property resolution through direct public interest legal services
- Sec. 2Striking references to socially disadvantaged farmers and ranchers in Federal law
Traces to 2 documents
public-private-law
2 references not yet in our index
- Pub. L. 87–128, title III, § 310I
- 132 Stat. 4669
Citation graph
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§ 1936c
Relending program to resolve ownership and succession on farmland
Bills×25
Fed. Reg.×10
Stat. Comp.×6
Pub. L.×5
Stat.×5
Pub. L.Pub. L. 87–128, title III, § 310I
Stat.132 Stat. 4669
Cites 4Cited by 51 across 5 sources