ALLcrimesfood&drugstaxestelecomcommercehealthconservationtransportationagricultureveteransbrowse all titles »
0

7 U.S.C. § 1925 — Limitations on amount of farm ownership loans

submitted 65 years ago by Pub. L. 87-128 to r/title-7-AGRICULTURE · 232 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

the actual law source: uscode.house.gov ↗public domain
(a) In general

The Secretary shall make or insure no loan under sections 1922, 1923, 1924, 1934, and 1935 of this title that would cause the unpaid indebtedness under such sections of any one borrower to exceed the smaller of (1) the value of the farm or other security, or (2) in the case of a loan other than a loan guaranteed by the Secretary, $600,000, or, in the case of a loan guaranteed by the Secretary, $1,750,000 (increased, beginning with fiscal year 2019, by the inflation percentage applicable to the fiscal year in which the loan is guaranteed and reduced by the amount of any unpaid indebtedness of the borrower on loans under subchapter II that are guaranteed by the Secretary).

(b) Determination of value

In determining the value of the farm, the Secretary shall consider appraisals made by competent appraisers under rules established by the Secretary.

(c) Inflation percentage

For purposes of this section, the inflation percentage applicable to a fiscal year is the percentage (if any) by which—

(1)

the average of the Prices Paid By Farmers Index (as compiled by the National Agricultural Statistics Service of the Department of Agriculture) for the 12-month period ending on July 31 of the immediately preceding fiscal year; exceeds

(2)

the average of such index (as so defined) for the 12-month period that immediately precedes the 12-month period described in paragraph (1).

Source credit: (Pub. L. 87–128, title III, § 305, Aug. 8, 1961, 75 Stat. 308; Pub. L. 91–620, § 1, Dec. 31, 1970, 84 Stat. 1862; Pub. L. 92–419, title I, § 103, Aug. 30, 1972, 86 Stat. 658; Pub. L. 91–524, title VIII, § 807, as added Pub. L. 93–86, § 1(27)(B), Aug. 10, 1973, 87 Stat. 237; Pub. L. 95–334, title I, § 103, Aug. 4, 1978, 92 Stat. 421; Pub. L. 102–554, § 3, Oct. 28, 1992, 106 Stat. 4142; Pub. L. 105–277, div. A, § 101(a) [title VIII, § 806(a)], Oct. 21, 1998, 112 Stat. 2681, 2681–39; Pub. L. 110–234, title V, § 5003, May 22, 2008, 122 Stat. 1144; Pub. L. 110–246, § 4(a), title V, § 5003, June 18, 2008, 122 Stat. 1664, 1905; Pub. L. 115–334, title V, § 5103, Dec. 20, 2018, 132 Stat. 4669.)

history & why it existsrecord from the source credit
  • 1961Enacted · Pub. L. 87-128 · 75 Stat. 308
  • 1970Amended · Pub. L. 91-620 · 84 Stat. 1862
  • 1972Amended · Pub. L. 92-419 · 86 Stat. 658
  • 1973Amended · Pub. L. 91-524 · 87 Stat. 237
  • 1978Amended · Pub. L. 95-334 · 92 Stat. 421
  • 1992Amended · Pub. L. 102-554 · 106 Stat. 4142
  • 1998Amended · Pub. L. 105-277 · 112 Stat. 2681, 2681
  • 2008Amended · Pub. L. 110-234 · 122 Stat. 1144
  • 2008Amended · Pub. L. 110-246 · 122 Stat. 1664, 1905
  • 2018Amended · Pub. L. 115-334 · 132 Stat. 4669

A history note hasn’t been published yet. The record shows enactment by Pub. L. 87-128 on 1961-08-08.

all 0 arguments · sorted by: best

0/280

no arguments yet — make the first case