42 U.S.C. § 9810 — Financial assistance to low-income families, local cooperative associations, and local public or private nonprofit organizations or entities; amount, purposes, etc.
submitted 45 years ago by Pub. L. 97-35 to r/title-42-THE-PUBLIC-HEALTH-AND-WELFARE · 283 words · no verdicts yet
The Secretary may provide limited loans and other help to low-income rural families for property, family-sized farms, cooperatives, and income-supporting businesses. The Secretary may also fund local cooperative and nonprofit programs and specified costs.
(a) The Secretary* may give financial assistance, including loans due within no more than 15 years, to a low-income rural family if the total principal debt from the assistance will not exceed $3,500 at one time and the Secretary finds a reasonable chance of permanently increasing family income or improving living or housing conditions. The assistance may help the family: (1) acquire or improve real estate, reduce debts attached to it, or build improvements; (2) operate or improve a family-sized farm, including buying feed, seed, fertilizer, livestock, poultry, and equipment; or (3) join cooperative associations or finance nonagricultural enterprises that supplement family income. (b) The Secretary may assist local cooperatives and local public or private nonprofit organizations or agencies in rural areas with many or a substantial number of low-income people. The assistance may pay all or part of establishing and operating cooperative farming, purchasing, marketing, and processing programs; improve participants’ producer income and consumer buying power; and provide essentials such as credit and health services. Covered costs include (1) staff and overhead administration, (2) planning and developing new enterprises, (3) technical assistance, and (4) initial capital when the participating families’ poverty and the rural area’s social conditions require it.
The Secretary* is authorized to provide financial assistance, including loans having a maximum maturity of fifteen years and in amounts not resulting in an aggregate principal indebtedness of more than $3,500 at any one time, to any low-income rural family where, in the judgment of the Secretary, such financial assistance has a reasonable possibility of effecting a permanent increase in the income of such families, or will contribute to the improvement of their living or housing conditions, by assisting or permitting them to—
acquire or improve real estate or reduce encumbrances or erect improvements thereon;
operate or improve the operation of farms not larger than family sized, including but not limited to the purchase of feed, seed, fertilizer, livestock, poultry, and equipment; or
participate in cooperative associations, or finance nonagricultral 1 enterprises which will enable such families to supplement their income.
The Secretary is authorized to provide financial assistance to local cooperative associations or local public and private nonprofit organizations or agencies in rural areas containing concentrations or substantial numbers of low-income persons for the purpose of defraying all or part of the costs of establishing and operating cooperative programs for farming, purchasing, marketing, processing, and to improve their income as producers and their purchasing power as consumers, and to provide such essentials as credit and health services. Costs which may be defrayed shall include—
administrative costs of staff and overhead;
costs of planning and developing new enterprises;
costs of acquiring technical assistance; and
initial capital where it is determined by the Secretary that the poverty of the families participating in the program and the social conditions of the rural area require such assistance.
Source credit: (Pub. L. 97–35, title VI, § 621, Aug. 13, 1981, 95 Stat. 493.)
- 1981Enacted · Pub. L. 97-35 · 95 Stat. 493
A history note hasn’t been published yet. The record shows enactment by Pub. L. 97-35 on 1981-08-13.
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