< Back to H.R. 5065 (103rd Congress, 1993–1994)

Text of the Beginning Farmer Technical Corrections Act of 1994

This bill was introduced in a previous session of Congress and was passed by the House on September 29, 1994 but was never passed by the Senate. The text of the bill below is as of Oct 8, 1994 (Referred to Senate Committee).

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HR 5065 RFS

103d CONGRESS

2d Session

H. R. 5065

IN THE SENATE OF THE UNITED STATES

September 30 (legislative day, SEPTEMBER 12), 1994

Received

October 8 (legislative day, SEPTEMBER 12), 1994

Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry


AN ACT

To amend the Consolidated Farm and Rural Development Act to make technical corrections to certain provisions relating to beginning farmers and ranchers.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ‘Beginning Farmer Technical Corrections Act of 1994’.

SEC. 2. LAND OWNERSHIP LIMITATION MADE INAPPLICABLE TO OPERATING LOANS.

    Section 343(a)(11) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1991(a)(11)) is amended by adding after and below the end the following:

      ‘As used in subtitle B, the term ‘qualified beginning farmer or rancher’ shall have the meaning given in the preceding sentence without regard to subparagraph (F).’.

SEC. 3. GRADUATION OF BORROWERS WITHOUT REGARD TO YOUTH LOANS.

    Section 319 of the Consolidated Farm and Rural Development Act (7 U.S.C. 1949) is amended by adding at the end the following:

    ‘(c) DISREGARD OF LOANS MADE TO YOUTHS- As used in this section, the term ‘loan’ does not include any loan made under section 311(b).’.

SEC. 4. DIRECT LOAN HISTORY AND GUARANTEE HISTORY TO BE CONSIDERED SEPARATELY IN APPLYING THE TRANSITION RULE FOR GRADUATION OF BORROWERS.

    Section 319(b)(2) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1949(b)(2)) is amended to read as follows:

      ‘(2) TRANSITION RULES-

        ‘(A) CONSIDERATION OF DIRECT LOAN HISTORY- If, as of October 28, 1992, the Secretary has, for 5 or more years, made a direct loan to a borrower under this subtitle, then, after the 5th year (occurring after October 28, 1992) for which a direct loan has been made to the borrower under this subtitle, the Secretary shall not make a direct loan to the borrower under this subtitle.

        ‘(B) CONSIDERATION OF GUARANTEE HISTORY- If, as of October 28, 1992, the Secretary has, for 10 or more years, provided a guarantee under this subtitle with respect to a loan made to a borrower, then, after the 5th year (occurring after October 28, 1992) for which a guarantee has been provided under this subtitle with respect to a loan made to the borrower, the Secretary shall not provide a guarantee under this subtitle with respect to a loan made to the borrower.’.

Passed the House of Representatives, September 29, 1994.

Attest:

DONNALD K. ANDERSON,

Clerk.