In general
The Secretary may make or guarantee qualified conservation loans to eligible borrowers under this section.
Definitions
Qualified conservation loan
The term “qualified conservation loan” means a loan, the proceeds of which are used to cover the costs to the borrower of carrying out a qualified conservation project.
Qualified conservation project
The term “qualified conservation project” means conservation measures that address provisions of a conservation plan of the eligible borrower.
Conservation plan
Eligibility
In general
The Secretary may make or guarantee loans to farmers or ranchers in the United States, farm cooperatives, private domestic corporations, partnerships, joint operations, trusts, limited liability companies, or such other legal entities as the Secretary considers appropriate that are controlled by farmers or ranchers and engaged primarily and directly in agricultural production in the United States.
Requirements
section 1922(a)(1) of this titleTo be eligible for a loan under this section, applicants shall meet the requirements in subparagraphs (A) and (B) of .
Priority
Limitations applicable to loan guarantees
Administrative provisions
The Secretary shall ensure, to the maximum extent practicable, that loans made or guaranteed under this section are distributed across diverse geographic regions.
Credit eligibility
section 1983 of this titleThe provisions of paragraphs (1) and (3) of shall not apply to loans made or guaranteed under this section.
Authorization of appropriations
There is authorized to be appropriated to the Secretary to carry out this section $150,000,000 for each of fiscal years 2014 through 2023.
Pub. L. 87–128, title III, § 30475 Stat. 308Pub. L. 90–488, § 282 Stat. 770Pub. L. 92–419, title I, § 10286 Stat. 657Pub. L. 95–334, title I, § 10292 Stat. 421Pub. L. 101–624, title XVIII, § 1802(a)104 Stat. 3817Pub. L. 102–237, title V, § 501(a)105 Stat. 1865Pub. L. 104–127, title VI, § 603110 Stat. 1085Pub. L. 110–234, title V, § 5002122 Stat. 1142Pub. L. 110–246, § 4(a)122 Stat. 1664Pub. L. 113–79, title V128 Stat. 833Pub. L. 115–334, title V, § 5102132 Stat. 4669(, , ; , , ; , , ; , , ; , , ; , , ; , , ; , , ; , title V, § 5002, , , 1904; , §§ 5001(c)(1), 5002, , ; , , .)
Editorial Notes
Codification
Pub. L. 110–234Pub. L. 110–246Pub. L. 110–234section 4(a) of Pub. L. 110–246 and made identical amendments to this section. The amendments by were repealed by .
Amendments
Pub. L. 115–3342018—Subsec. (h). substituted “2023” for “2018”.
Pub. L. 113–79, § 5002(a)2014—Subsec. (c)(1). , substituted “limited liability companies, or such other legal entities as the Secretary considers appropriate” for “or limited liability companies”.
Pub. L. 113–79, § 5001(c)(1)Subsec. (c)(2). , substituted “subparagraphs (A) and (B) of section 1922(a)(1)” for “paragraphs (1) and (2) of section 1922(a)”.
Pub. L. 113–79, § 5002(b)Subsec. (e). , substituted “shall be—” for “shall be 75 percent of the principal amount of the loan.” and added pars. (1) and (2).
Pub. L. 113–79, § 5002(c)Subsec. (h). , added subsec. (h) and struck out former subsec. (h). Prior to amendment, text read as follows: “For each of fiscal years 2008 through 2012, there are authorized to be appropriated to the Secretary such funds as are necessary to carry out this section.”
Pub. L. 110–246, § 5002section 3812 of title 162008—, amended section generally, substituting provisions relating to conservation loans and loan guarantee programs for former provisions which related to, in subsec. (a), authority to make or insure loans for soil and water conservation and protection, in subsec. (b), priority of producers who would build conservation structures or establish conservation practices to comply with , and in subsec. (c), maximum amount of a loan.
Pub. L. 104–127, § 603(2)1996—, inserted section catchline.
Pub. L. 104–127, § 603(2)Subsec. (a). , (5), redesignated subsec. (a)(1) as (a), inserted heading, and redesignated subpars. (A) to (F) as pars. (1) to (6), respectively. Former pars. (2) and (3) redesignated subsecs. (b) and (c), respectively.
Pub. L. 104–127, § 603(1)section 1922 of this titleSubsec. (b). , (3), redesignated subsec. (a)(2) as (b), inserted heading, substituted “guaranteeing loans” for “insuring loans”, and struck out former subsec. (b) which read as follows: “Loans may also be made or insured under this subchapter to residents of rural areas without regard to the requirements of clauses (2) and (3) of to acquire or establish in rural areas small business enterprises to provide such residents with essential income.”
Pub. L. 104–127, § 603(1)section 1922 of this titleSubsec. (c). , (4), (6), redesignated subsec. (a)(3) as (c), inserted heading, redesignated subpars. (A) and (B) as pars. (1) and (2), respectively, and struck out former subsec. (c) which read as follows: “Loans may also be made or insured under this subchapter to any farm owners or tenants without regard to the requirements of clauses (1), (2), and (3) of for the purposes of meeting Federal, State, or local requirements for agricultural, animal, or poultry waste pollution abatement and control facilities, including the construction, modification, or relocation of farm or other structures necessary to comply with such pollution abatement requirements.”
Pub. L. 102–2371991—Subsecs. (a), (d). redesignated subsec. (d) as (a) and moved it to appear before subsec. (b) and struck out former subsec. (a) which read as follows: “Loans may also be made or insured under this subchapter to any farmowners or tenants without regard to the requirements of section 1922(1), (2), and (3) of this title for the purposes only of land and water development, use and conservation, not including recreational uses and facilities, and without regard to the requirements of section 1922(2) and (3) of this title, to farmowners or tenants to finance outdoor recreational enterprises or to convert to recreational uses their farming or ranching operations, including those heretofore financed under this chapter.”
Pub. L. 101–6241990—Subsec. (d). added subsec. (d).
Pub. L. 95–334, § 102(1)1978—Subsec. (a). , struck out “individual” after “title, to”.
Pub. L. 95–334, § 102(2)Subsec. (c). , added subsec. (c).
Pub. L. 92–4191972— designated existing provisions as subsec. (a) and struck out item (a) and (b) designations appearing before “to any farmowners” and “without regard to”, respectively, and added subsec. (b).
Pub. L. 90–4881968— designated existing provisions as cl. (a), excluded recreational uses and facilities, and added cl. (b).
Statutory Notes and Related Subsidiaries
Effective Date of 2008 Amendment
Pub. L. 110–234Pub. L. 110–246Pub. L. 110–234section 4 of Pub. L. 110–246section 8701 of this titleAmendment of this section and repeal of by effective , the date of enactment of , see , set out as an Effective Date note under .
Effective Date of 1991 Amendment
Pub. L. 102–237Pub. L. 101–624section 1101(b)(3) of Pub. L. 102–237section 1421 of this titleAmendment by effective as if included in the provision of the Food, Agriculture, Conservation, and Trade Act of 1990, , to which the amendment relates, see , set out as a note under .