Public Law 119-73 (01/23/2026)

7 U.S.C. § 1934

Low-income farm ownership loan program; eligibility; repayment requirements

(a)
section 1923(a) of this titlesection 1924(a) of this titlesection 1922 of this titlesection 1922 of this title The Secretary is authorized to make and insure loans for any of the purposes referred to in , or paragraphs (1) through (5) of , to farmers and ranchers in the United States who (1) are citizens of the United States, (2) meet the requirements of paragraphs (2) through (4) of , (3) are unable to obtain sufficient credit under to finance their actual needs, (4) are owners or operators of small or family farms (including new owners or operators), (5) are farmers or ranchers with a low income, and (6) demonstrate a need to maximize their income from farming or ranching operations. The Secretary is also authorized to make such loans to any farm cooperative or private domestic corporation or partnership, or such other legal entities as the Secretary considers appropriate, that is controlled by farmers and ranchers and engaged primarily and directly in farming or ranching in the United States if all of its members, stockholders, partners, or owners, as applicable, are citizens of the United States and the entity and all such members, stockholders, partners, or owners meet the requirements of paragraphs (2) through (6) of the preceding sentence.
(b)
Each loan made or insured under this section shall be repayable in such installments as the Secretary determines will provide for reduced payments during the initial repayment period of the loan and larger payments during the remainder of the repayment period of the loan.

Pub. L. 87–128, title III, § 310DPub. L. 95–334, title I, § 11392 Stat. 424Pub. L. 101–624, title XVIII, § 1802(b)104 Stat. 3818Pub. L. 102–552, title V, § 516(e)(1)106 Stat. 4137Pub. L. 104–127, title VI, § 661(e)110 Stat. 1107Pub. L. 113–79, title V, § 5001(c)(2)128 Stat. 833(, as added , , ; amended , , ; , , ; , , ; , , .)

Editorial Notes

Amendments

Pub. L. 113–792014—Subsec. (a). inserted “, or such other legal entities as the Secretary considers appropriate,” after “partnership” and substituted “partners, or owners” for “or partners” in two places.

Pub. L. 104–127section 1923(a) of this titlesection 1924(a) of this titlesection 1923(a) of this titlesection 1924(a)(1) of this title1996—Subsec. (a). substituted “, or paragraphs (1) through (5) of ” for “paragraphs (1) through (5) of , or subparagraphs (A) through (E) of ”.

Pub. L. 102–5521992—Subsec. (a). substituted “1924(a)(1)” for “1924(d)(1)”.

Pub. L. 101–624section 1923(a) of this titlesection 1924(d)(1) of this titlesection 1923(a) of this titlesection 1922 of this title1990—Subsec. (a). substituted “paragraphs (1) through (5) of , or subparagraphs (A) through (E) of ,” for “clauses (1) through (5) of ”, substituted “paragraphs” for “clauses” before “(2) through (4) of section”, made technical amendment to reference to which required no change in text, and substituted “paragraphs” for “clauses” before “(2) through (6) of the”.

Statutory Notes and Related Subsidiaries

Effective Date of 1992 Amendment

Pub. L. 102–552, title V, § 516(e)(2)106 Stat. 4137

Public Law 102–237105 Stat. 1865section 1924 of this title“The amendment made by paragraph (1) of this subsection [amending this section] shall take effect at the same time as the amendments made by section 501(a) of the Food, Agriculture, Conservation, and Trade Act Amendments of 1991 (; ) [amending ] took effect.”
, , , provided that: