Title 7 — Agriculture
Chapter 50 — Agricultural Credit
§ 1927a. Loan interest rates charged by Farmers Home Administration; grant funds associated with loans
Statutory text
Effective , and thereafter, in the case of water and waste disposal and community facility borrowers, and effective , and thereafter, in the case of housing and farm borrowers, upon request of the borrower, the interest rate charged by the Farmers Home Administration to such borrowers shall be the lower of the rates in effect at either the time of loan approval or loan closing and any Farmers Home Administration grant funds associated with such loans shall be set in amount based on the interest rate in effect at the time of loan approval.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Pub. L. 99–88 title I § 100 · 99 Stat. 293
Enacted · 7 U.S.C. § 1927a
Pub. L. 99–88, title I, § 100, Aug. 15, 1985, 99 Stat. 296
Source evidence
Code source credit
Pub. L. 99–88, title I, § 100, Aug. 15, 1985, 99 Stat. 296Agricultural Credit Act of 1987
Pub. L. 100–233 title VI § 615(b)(1)(A) · 101 Stat. 1568
Substituted · 7 U.S.C. § 1927a
Pub. L. 100–233 substituted “Effective October 1, 1981, and thereafter, in the case of water and waste disposal and community facility borrowers, and effective November 12, 1983, and thereafter, in the case of housing and farm borrowers” for “Effective November 12, 1983, and thereafter”
Substituted · 7 U.S.C. § 1927a
Pub. L. 100–233 substituted “to such borrowers” for “to housing, farm, water and waste disposal, and community facility borrowers”
Source evidence
Code amendment note
Pub. L. 100–233 substituted “Effective October 1, 1981, and thereafter, in the case of water and waste disposal and community facility borrowers, and effective November 12, 1983, and thereafter, in the case of housing and farm borrowers” for “Effective November 12, 1983, and thereafter” and “to such borrowers” for “to housing, farm, water and waste disposal, and community facility borrowers”.Enacted provision · exact public law section
(A) In general.— The item designated “Loan Programs” under the subheading “Farmers Home Administration” in chapter I of title I of the Supplemental Appropriations Act, 1985 (7 U.S.C. 1927a; 99 Stat. 296) is amended— (i) by striking out “Effective November 12, 1983, and thereafter,” and inserting in lieu thereof “Effective October 1, 1981, and thereafter, in the case of water and waste disposal and community facility borrowers, and effective November 12, 1983, and thereafter, in the case of housing and farm borrowers,”; and (ii) by striking out “housing, farm, water and waste disposal, and community facility” and inserting in lieu thereof “such”,
2 of 3 references resolved to an enrolled provision · 1 partial
Editorial Notes
Codification
Section was enacted as part of the Supplemental Appropriations Act, 1985, and not as part of the Consolidated Farm and Rural Development Act which comprises this chapter.
Amendments
1988—Pub. L. 100–233 substituted “Effective , and thereafter, in the case of water and waste disposal and community facility borrowers, and effective , and thereafter, in the case of housing and farm borrowers” for “Effective , and thereafter” and “to such borrowers” for “to housing, farm, water and waste disposal, and community facility borrowers”.
Statutory Notes and Related Subsidiaries
Applicability of 1988 Amendment
Pub. L. 100–233, title VI, § 615(b)(1)(B), , 101 Stat. 1682, provided that: “The amendment made by subparagraph (A) [amending this section] shall not apply to any note or other obligation sold under section 1001 of the Omnibus [Budget] Reconciliation Act of 1986 [Pub. L. 99–509, 7 U.S.C. 1929a note] on or before the date of the enactment of this paragraph [].”
Credits
1985–1988 · 2 acts
- 1985Pub. L. 99–88, title I, § 100, , 99 Stat. 296
- 1988Pub. L. 100–233, title VI, § 615(b)(1)(A), , 101 Stat. 1681.
Show as published
(Pub. L. 99–88, title I, § 100, , 99 Stat. 296; Pub. L. 100–233, title VI, § 615(b)(1)(A), , 101 Stat. 1681.)