§ 1949. Graduation of borrowers with operating loans or guarantees to private commercial credit

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.

1. 1992

   Agricultural Act of 1961

   Pub. L. 87–128 title III § 319 · 75 Stat. 294

   Enacted · 7 U.S.C. § 1949

   Pub. L. 87–128, title III, § 319, as added Pub. L. 102–554, § 9, Oct. 28, 1992, 106 Stat. 4150

   Source evidence

   Code source credit
   Pub. L. 87–128, title III, § 319, as added Pub. L. 102–554, § 9, Oct. 28, 1992, 106 Stat. 4150

2. 1996

   Federal Agriculture Improvement and Reform Act of 1996

   Pub. L. 104–127 title VI § 617 · 110 Stat. 888

   1. Added · 7 U.S.C. § 1949(b)

      Pub. L. 104–127 added subsec. (b)

   2. Struck · 7 U.S.C. § 1949(b)

      Pub. L. 104–127 struck out former subsec. (b) which provided for limitation on period for which borrowers were eligible for assistance under this subchapter and contained transition rule

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 104–127 added subsec. (b) and struck out former subsec. (b) which provided for limitation on period for which borrowers were eligible for assistance under this subchapter and contained transition rule.

   Enacted provision · exact public law section
   SEC. 617. LIMITATION ON PERIOD FOR WHICH BORROWERS ARE ELIGIBLE FOR GUARANTEED ASSISTANCE. Section 319 of the Consolidated Farm and Rural Development Act (7 U.S.C. 1949) is amended by striking subsection (b) and inserting the following: “(b) Limitation on Period Borrowers Are Eligible for Guaranteed Assistance.— “(1) General rule.— Subject to paragraph (2), the Secretary shall not guarantee a loan under this subtitle for a borrower for any year after the 15th year that a loan is made to, or a guarantee is provided with respect to, the borrower under this subtitle. “(2) Transition rule.— If, as of October 28, 1992, a farmer or rancher has received a direct or guaranteed operating loan under this subtitle during each of 10 or more previous years, the borrower shall be eligible to receive a guaranteed operating loan under this subtitle during 5 additional years after October 28, 1992.”.

3. 2014

   Agricultural Act of 2014

   Pub. L. 113–79 title V § 5107 · 128 Stat. 649

   1. Struck · 7 U.S.C. § 1949

      Pub. L. 113–79 struck out subsec. (a) designation and heading before “The Secretary”

   2. Struck · 7 U.S.C. § 1949

      Pub. L. 113–79 struck out subsec. (b) which related to limitation on period borrowers were eligible for guaranteed assistance under this subchapter and contained transition rule

   Source evidence

   Code amendment note
   Pub. L. 113–79 struck out subsec. (a) designation and heading before “The Secretary” and struck out subsec. (b) which related to limitation on period borrowers were eligible for guaranteed assistance under this subchapter and contained transition rule.

   Enacted provision · exact public law section
   SEC. 5107. TERM LIMITS ON GUARANTEED OPERATING LOANS.   Section 319 of the Consolidated Farm and Rural Development Act (7 U.S.C. 1949) is amended— (1) in subsection (a), by striking “(a) Graduation Plan.—”; and (2) by striking subsection (b).

4 of 5 references resolved to an enrolled provision · 1 partial