7 U.S.C. § 1421a — Financial impact study
submitted 36 years ago by Pub. L. 101-624 to r/title-7-AGRICULTURE · 219 words · no verdicts yet
The Secretary of Agriculture must annually study how agricultural support levels affect finances, including producers' ability to meet obligations. The Secretary must report the results to the specified congressional committees, and the study cannot be used to support a legal claim.
(a) Study. Each year, the Secretary of Agriculture must study the financial effect of support levels that the Secretary establishes and announces under programs in the Agricultural Act of 1949 [7 U.S.C. 1421 et seq.]. This includes studying how those levels affect producers' ability to meet financial obligations, with special attention to borrowers from the Farmers Home Administration and the Farm Credit System.
(b) Report. Each year, the Secretary must prepare a report with the study's results and submit it to the House Committee on Agriculture and the Senate Committee on Agriculture, Nutrition, and Forestry no later than the date the Secretary makes the final announcement for the programs for that year.
(c) Informational purposes. The study, including its examination of producers' ability to meet financial obligations, is only for information and congressional oversight. It does not create a cause of action, provide a basis for a claim or right, or serve as evidence supporting a claim or right by any person, including farmers and borrowers, in an administrative or court proceeding.
The Secretary of Agriculture shall conduct an annual study of the financial impact of the support levels established and announced by the Secretary under programs contained in the Agricultural Act of 1949 [7 U.S.C. 1421 et seq.] (hereafter in this section referred to as “programs”), including a study of the effect of the support levels on the ability of producers to meet their financial obligations (with special emphasis on borrowers from the Farmers Home Administration and the Farm Credit System).
The Secretary shall annually prepare a report containing the results of the study and submit the report to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate, not later than the date of the final announcement for the programs by the Secretary for any 1 year.
The study under this section (including the study of the effect of the support levels on the ability of producers to meet their financial obligations) shall be only for informational purposes and for Congressional oversight and shall not give rise to any cause of action, be a basis for, or be used as evidence in support of, any claim or right of any person, including farmers and borrowers, in any administrative or judicial proceeding.
Source credit: (Pub. L. 101–624, title XI, § 1147, Nov. 28, 1990, 104 Stat. 3516.)
- 1990Enacted · Pub. L. 101-624 · 104 Stat. 3516
A history note hasn’t been published yet. The record shows enactment by Pub. L. 101-624 on 1990-11-28.
all 0 arguments · sorted by: best
no arguments yet — make the first case