Title 7 — Agriculture
Chapter 50 — Agricultural Credit
§ 1997. Conservation easements
Statutory text
Definitions
For purposes of this section:
The term “governmental entity” means any agency of the United States, a State, or a unit of local government of a State.
The terms “highly erodible land” and “wetland” have the meanings, respectively, that such terms are given in section 3801 of title 16.
The term “wildlife” means fish or wildlife as defined in section 3371 of title 16.
The term “recreational purposes” includes hunting.
Contracts on loan security properties
Subject to subsection (c), the Secretary may enter into a contract related to real property for conservation, recreation, or wildlife purposes.
Limitations
The Secretary may enter into a contract under subsection (b) if—
such property is wetland, upland, or highly erodible land;
such property is determined by the Secretary to be suitable for the purposes involved; and
such property secures any loan made under any law administered by the Secretary and held by the Secretary; and
such contract better enables a qualified borrower to repay the loan in a timely manner, as determined by the Secretary.
Terms and conditions
The terms and conditions specified in each such contract shall—
specify the purposes for which such real property may be used;
identify the conservation measures to be taken, and the recreational and wildlife uses to be allowed, with respect to such real property; and
require such owner to permit the Secretary, and any person or governmental entity designated by the Secretary, to have access to such real property for the purpose of monitoring compliance with such contract.
Purchase; limitation upon cancellation or prepayment
Subject to paragraph (2), the Secretary may reduce or forgive the outstanding debt of a borrower—
in the case of a borrower to whom the Secretary has made one or more outstanding loans under laws administered by the Secretary, by canceling that part of the aggregate amount of such outstanding loans that bears the same ratio to such aggregate amount as the number of acres of the real property of the borrower that are subject to the contract bears to the aggregate number of acres securing such loans; or
in any other case, by treating as prepaid that part of the principal amount of a new loan to the borrower issued and held by the Secretary under a law administered by the Secretary that bears the same ratio to such principal amount as the number of acres of the real property of the borrower that are subject to the contract bears to the aggregate number of acres securing the new loan.
The amount so canceled or treated as prepaid pursuant to paragraph (1) shall not exceed—
in the case of a delinquent loan, the value of the land on which the contract is entered into or the difference between the amount of the outstanding loan secured by the land and the value of the land, whichever is greater; or
in the case of a nondelinquent loan, 33 percent of the amount of the loan secured by the land.
Consultations with Director of Fish and Wildlife Service
If the Secretary elects to use the authority provided by this section, the Secretary shall consult with the Director of the Fish and Wildlife Service for purposes of—
selecting real property in which the Secretary may enter into contracts under this section;
formulating the terms and conditions of such contracts; and
enforcing such contracts.
Enforcement
The Secretary, and any person or governmental entity designated by the Secretary, may enforce a contract entered into by the Secretary under this section.
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.
Agricultural Act of 1961
Pub. L. 87–128 title III § 349 · 75 Stat. 294
Enacted · 7 U.S.C. § 1997
Pub. L. 87–128, title III, § 349, as added Pub. L. 99–198, title XIII, § 1318(a), Dec. 23, 1985, 99 Stat. 1530
Source evidence
Code source credit
Pub. L. 87–128, title III, § 349, as added Pub. L. 99–198, title XIII, § 1318(a), Dec. 23, 1985, 99 Stat. 1530Agricultural Credit Act of 1987
Pub. L. 100–233 § 612(1) · 101 Stat. 1568
Inserted · 7 U.S.C. § 1997(c)(4)
Pub. L. 100–233, § 612(1), inserted “and other wildlife habitat” after “wetland”
Source evidence
Code amendment note
Subsec. (c)(4). Pub. L. 100–233, § 612(1), inserted “and other wildlife habitat” after “wetland”.Enacted provision · exact public law section
(1) in subsection (c)(4), by inserting “and other wildlife habitat” after “wetland”; andAgricultural Credit Act of 1987
Pub. L. 100–233 § 612(2) · 101 Stat. 1568
Inserted · 7 U.S.C. § 1997(e)
Pub. L. 100–233, § 612(2), inserted “or the difference between the amount of the outstanding loan secured by the land and the current value of the land, whichever is greater” at end of second sentence
Source evidence
Code amendment note
Subsec. (e). Pub. L. 100–233, § 612(2), inserted “or the difference between the amount of the outstanding loan secured by the land and the current value of the land, whichever is greater” at end of second sentence.Enacted provision · exact public law section
(2) in subsection (e), by striking out the last period and inserting in lieu thereof the following: “or the difference between the amount of the outstanding loan secured by the land and the current value of the land, whichever is greater.”.Rural Economic Development Act of 1990
Pub. L. 101–624 § 2388(j) · 104 Stat. 3359
Redesignated · 7 U.S.C. § 1997(a)(4); 7 U.S.C. § 1997(a)(5)
Pub. L. 101–624, § 2388(j), redesignated par. (5) as (4)
Source evidence
Code amendment note
Subsec. (a)(4), (5). Pub. L. 101–624, § 2388(j), redesignated par. (5) as (4).Enacted provision · exact public law section
(j) Section 349(a) Amendment.— Section 349(a) of such Act (7 U.S.C. 1997(a)) is amended by redesignating paragraph (5) as paragraph (4).Food, Agriculture, Conservation, and Trade Act of 1990
Pub. L. 101–624 § 1815(1)(A) · 104 Stat. 3359
Struck · 7 U.S.C. § 1997(c)
Pub. L. 101–624, § 1815(1)(A)–(D), (F), (G), in introductory provision, struck out “such property” after “real property if”
Inserted · 7 U.S.C. § 1997(c)
Pub. L. 101–624, § 1815(1)(A)–(D), (F), (G), in introductory provision, inserted “such property” after par. (1), (2), (3)(A)(i), (3)(B), and (4) designations
Source evidence
Code amendment note
Subsec. (c). Pub. L. 101–624, § 1815(1)(A)–(D), (F), (G), in introductory provision, struck out “such property” after “real property if”, and inserted “such property” after par. (1), (2), (3)(A)(i), (3)(B), and (4) designations.Enacted provision · exact public law section
(A) in the matter preceding paragraph (1), by striking “such property”;Food, Agriculture, Conservation, and Trade Act of 1990
Pub. L. 101–624 § 1815(1)(E) · 104 Stat. 3359
Amended · 7 U.S.C. § 1997(c)(3)(A)(ii)
Pub. L. 101–624, § 1815(1)(E), amended cl. (ii) generally. Prior to amendment, cl. (ii) read as follows: “the borrower of such loan is unable, as determined by the Secretary, to repay such loan in a timely manner; or”
Source evidence
Code amendment note
Subsec. (c)(3)(A)(ii). Pub. L. 101–624, § 1815(1)(E), amended cl. (ii) generally. Prior to amendment, cl. (ii) read as follows: “the borrower of such loan is unable, as determined by the Secretary, to repay such loan in a timely manner; or”.Enacted provision · exact public law section
(E) by amending clause (ii) of paragraph (3)(A) to read as follows: “(ii) such easement better enables a qualified borrower to repay the loan in a timely manner, as determined by the Secretary; or”;Food, Agriculture, Conservation, and Trade Act of 1990
Pub. L. 101–624 § 1815(2) · 104 Stat. 3359
Amended · 7 U.S.C. § 1997(e)
Pub. L. 101–624, § 1815(2), amended subsec. (e) generally. Prior to amendment, subsec. (e) read as follows: “Any such easement acquired by the Secretary shall be purchased from the borrower involved by canceling that part of the aggregate amount of such outstanding loans of the borrower held by the Secretary under laws administered by the Farmers Home Administration that bears the same ratio to the aggregate amount of the outstanding loans of such borrower held by the Secretary under all such laws as the number of acres of the real property of such borrower that are subject to such easement bears to the aggregate number of acres securing such loans. In no case shall the amount so cancelled exceed the value of the land on which the easement is acquired or the difference between the amount of the outstanding loan secured by the land and the current value of the land, whichever is greater.”
Source evidence
Code amendment note
Subsec. (e). Pub. L. 101–624, § 1815(2), amended subsec. (e) generally. Prior to amendment, subsec. (e) read as follows: “Any such easement acquired by the Secretary shall be purchased from the borrower involved by canceling that part of the aggregate amount of such outstanding loans of the borrower held by the Secretary under laws administered by the Farmers Home Administration that bears the same ratio to the aggregate amount of the outstanding loans of such borrower held by the Secretary under all such laws as the number of acres of the real property of such borrower that are subject to such easement bears to the aggregate number of acres securing such loans. In no case shall the amount so cancelled exceed the value of the land on which the easement is acquired or the difference between the amount of the outstanding loan secured by the land and the current value of the land, whichever is greater.”Enacted provision · exact public law section
(2) by amending subsection (e) to read as follows: “(e) (1) Subject to paragraph (2), the Secretary may purchase any such easement from the borrower— “(A) in the case of a borrower to whom the Secretary has made one or more outstanding loans under laws administered by the Farmers Home Administration, by canceling that part of the aggregate amount of such outstanding loans that bears the same ratio to such aggregate amount as the number of acres of the real property of the borrower that are subject to the easement bears to the aggregate number of acres securing such loans; or “(B) in any other case, by treating as prepaid that part of the principal amount of a new loan to the borrower issued and held by the Secretary under a law administered by the Farmers Home Administration that bears the same ratio to such principal amount as the number of acres of the real property of the borrower that are subject to the easement bears to the aggregate number of acres securing the new loan. “(2) The amount so canceled or treated as prepaid pursuant to paragraph (1) shall not exceed— “(A) in the case of a delinquent loan, the value of the land on which the easement is acquired or the difference between the amount of the outstanding loan secured by the land and the value of the land, whichever is greater; or “(B) in the case of a nondelinquent loan, 33 percent of the amount of the loan secured by the land.”; andFood, Agriculture, Conservation, and Trade Act of 1990
Pub. L. 101–624 § 1815(9) · 104 Stat. 3359
Struck · 7 U.S.C. § 1997(h)
Pub. L. 101–624, § 1815(9), struck out subsec. (h) which read as follows: “This section shall not apply with respect to the cancellation of any part of any loan that was made after December 25, 1985.”
Source evidence
Code amendment note
Subsec. (h). Pub. L. 101–624, § 1815(9), struck out subsec. (h) which read as follows: “This section shall not apply with respect to the cancellation of any part of any loan that was made after December 25, 1985.”Enacted provision · exact public law section
(9) by striking subsection (h).Federal Agriculture Improvement and Reform Act of 1996
Pub. L. 104–127 § 642(1) · 110 Stat. 888
Added · 7 U.S.C. § 1997(b)
Pub. L. 104–127, § 642(1), added subsec. (b)
Struck · 7 U.S.C. § 1997(b)
Pub. L. 104–127, § 642(1), struck out former subsec. (b) which read as follows: “Subject to subsection (c) of this section, the Secretary may acquire and retain an easement in real property, for a term of not less than 50 years, for conservation, recreational, and wildlife purposes.”
Source evidence
Code amendment note
Subsec. (b). Pub. L. 104–127, § 642(1), added subsec. (b) and struck out former subsec. (b) which read as follows: “Subject to subsection (c) of this section, the Secretary may acquire and retain an easement in real property, for a term of not less than 50 years, for conservation, recreational, and wildlife purposes.”Enacted provision · exact public law section
(1) by striking subsection (b) and inserting the following: “(b) Contracts on Loan Security Properties.— Subject to subsection (c), the Secretary may enter into a contract related to real property for conservation, recreation, or wildlife purposes.”;Effective date note
Amendment by Pub. L. 104–127 effective 90 days after Apr. 4, 1996, see section 663(b) of Pub. L. 104–127, set out as a note under section 1922 of this title.Federal Agriculture Improvement and Reform Act of 1996
Pub. L. 104–127 § 642(2)(A) · 110 Stat. 888
Inserted · 7 U.S.C. § 1997(c)
Pub. L. 104–127, § 642(2)(A), inserted heading
Substituted · 7 U.S.C. § 1997(c)
Pub. L. 104–127, § 642(2)(A), substituted “The Secretary may enter into a contract under subsection (b) if” for “Such easement may be acquired or retained for real property if”
Source evidence
Code amendment note
Subsec. (c). Pub. L. 104–127, § 642(2)(A), inserted heading and substituted “The Secretary may enter into a contract under subsection (b) if” for “Such easement may be acquired or retained for real property if”.Enacted provision · exact public law section
(A) by striking “(c) Such easement” and all that follows through “if—” and inserting the following: “(c) Limitations.— The Secretary may enter into a contract under subsection (b) if—”;Effective date note
Amendment by Pub. L. 104–127 effective 90 days after Apr. 4, 1996, see section 663(b) of Pub. L. 104–127, set out as a note under section 1922 of this title.Federal Agriculture Improvement and Reform Act of 1996
Pub. L. 104–127 § 642(2)(B) · 110 Stat. 888
Inserted · 7 U.S.C. § 1997(c)(2)
Pub. L. 104–127, § 642(2)(B), inserted “and” at end
Source evidence
Code amendment note
Subsec. (c)(2). Pub. L. 104–127, § 642(2)(B), inserted “and” at end.Enacted provision · exact public law section
(B) in paragraph (2), by adding “and” at the end;Effective date note
Amendment by Pub. L. 104–127 effective 90 days after Apr. 4, 1996, see section 663(b) of Pub. L. 104–127, set out as a note under section 1922 of this title.Federal Agriculture Improvement and Reform Act of 1996
Pub. L. 104–127 § 642(2)(C) · 110 Stat. 888
Struck · 7 U.S.C. § 1997(c)(3)
Pub. L. 104–127, § 642(2)(C), struck out “(i)” after “(3)(A)”
Substituted · 7 U.S.C. § 1997(c)(3)
Pub. L. 104–127, § 642(2)(C), substituted “administered by the Secretary” for “administered by the Farmers Home Administration”
Redesignated · 7 U.S.C. § 1997(c)(3)
Pub. L. 104–127, § 642(2)(C), redesignated cl. (ii) of subpar. (A) as subpar. (B)
Substituted · 7 U.S.C. § 1997(c)(3)
Pub. L. 104–127, § 642(2)(C), substituted “such contract” for “such easement” and a period for “; or” at end
Struck · 7 U.S.C. § 1997(c)(3)
Pub. L. 104–127, § 642(2)(C), struck out former subpar. (B) which read as follows: “such property is administered under this chapter by the Secretary; and”
Source evidence
Code amendment note
Subsec. (c)(3). Pub. L. 104–127, § 642(2)(C), struck out “(i)” after “(3)(A)”, substituted “administered by the Secretary” for “administered by the Farmers Home Administration”, redesignated cl. (ii) of subpar. (A) as subpar. (B), substituted “such contract” for “such easement” and a period for “; or” at end, and struck out former subpar. (B) which read as follows: “such property is administered under this chapter by the Secretary; and”.Enacted provision · exact public law section
(C) in paragraph (3)— (i) by striking subparagraph (B); (ii) by striking “(3)(A)(i)” and inserting “(3)(A)”; (iii) by striking “Farmers Home Administration” and inserting “Secretary”; (iv) by striking “(ii) such easement” and inserting “(B) such contract”; and (v) by striking “; or” and inserting a period; andEffective date note
Amendment by Pub. L. 104–127 effective 90 days after Apr. 4, 1996, see section 663(b) of Pub. L. 104–127, set out as a note under section 1922 of this title.Federal Agriculture Improvement and Reform Act of 1996
Pub. L. 104–127 § 642(2)(D) · 110 Stat. 888
Struck · 7 U.S.C. § 1997(c)(4)
Pub. L. 104–127, § 642(2)(D), struck out par. (4) which read as follows: “such property was (except in the case of wetland and other wildlife habitat) row cropped each year of the 3-year period ending on December 23, 1985.”
Source evidence
Code amendment note
Subsec. (c)(4). Pub. L. 104–127, § 642(2)(D), struck out par. (4) which read as follows: “such property was (except in the case of wetland and other wildlife habitat) row cropped each year of the 3-year period ending on December 23, 1985.”Enacted provision · exact public law section
(D) by striking paragraph (4);Effective date note
Amendment by Pub. L. 104–127 effective 90 days after Apr. 4, 1996, see section 663(b) of Pub. L. 104–127, set out as a note under section 1922 of this title.Federal Agriculture Improvement and Reform Act of 1996
Pub. L. 104–127 § 642(3) · 110 Stat. 888
Substituted · 7 U.S.C. § 1997(d)
Pub. L. 104–127, § 642(3), substituted “contract” for “easement” in introductory provisions and par. (3)
Source evidence
Code amendment note
Subsec. (d). Pub. L. 104–127, § 642(3), substituted “contract” for “easement” in introductory provisions and par. (3).Enacted provision · exact public law section
(3) in subsection (d), by striking “easement” each place it appears and inserting “contract”;Effective date note
Amendment by Pub. L. 104–127 effective 90 days after Apr. 4, 1996, see section 663(b) of Pub. L. 104–127, set out as a note under section 1922 of this title.Federal Agriculture Improvement and Reform Act of 1996
Pub. L. 104–127 § 642(4) · 110 Stat. 888
Substituted · 7 U.S.C. § 1997(e)
Pub. L. 104–127, § 642(4), in par. (1), substituted “reduce or forgive the outstanding debt of a borrower” for “purchase any such easement from the borrower” in introductory provisions, in subpars. (A) and (B)
Substituted · 7 U.S.C. § 1997(e)
Pub. L. 104–127, § 642(4), in par. (1), substituted “administered by the Secretary” for “administered by the Farmers Home Administration” in par. (2)(A)
Substituted · 7 U.S.C. § 1997(e)
Pub. L. 104–127, § 642(4), in par. (1), substituted “contract bears” for “easement bears” in par. (2)(A)
Substituted · 7 U.S.C. § 1997(e)
Pub. L. 104–127, § 642(4), in par. (1), substituted “contract is entered into” for “easement is acquired”
Source evidence
Code amendment note
Subsec. (e). Pub. L. 104–127, § 642(4), in par. (1), substituted “reduce or forgive the outstanding debt of a borrower” for “purchase any such easement from the borrower” in introductory provisions, in subpars. (A) and (B), substituted “administered by the Secretary” for “administered by the Farmers Home Administration” and “contract bears” for “easement bears”, and in par. (2)(A), substituted “contract is entered into” for “easement is acquired”.Enacted provision · exact public law section
(4) in subsection (e)— (A) in paragraph (1)— (i) in the matter preceding subparagraph (A), by striking “purchase any such easement from the borrower—” and inserting “reduce or forgive the outstanding debt of a borrower—”; (ii) by striking “easement” each place it appears and inserting “contract”; and (iii) by striking “Farmers Home Administration” each place it appears and inserting “Secretary”; and (B) in paragraph (2)(A), by striking “easement is acquired” and inserting “contract is entered into”;Effective date note
Amendment by Pub. L. 104–127 effective 90 days after Apr. 4, 1996, see section 663(b) of Pub. L. 104–127, set out as a note under section 1922 of this title.Federal Agriculture Improvement and Reform Act of 1996
Pub. L. 104–127 § 642(5) · 110 Stat. 888
Substituted · 7 U.S.C. § 1997(f)
Pub. L. 104–127, § 642(5), in par. (1), substituted “enter into contracts” for “acquire easements” and in pars. (2) and (3)
Substituted · 7 U.S.C. § 1997(f)
Pub. L. 104–127, § 642(5), in par. (1), substituted “contracts” for “easements”
Source evidence
Code amendment note
Subsec. (f). Pub. L. 104–127, § 642(5), in par. (1), substituted “enter into contracts” for “acquire easements” and in pars. (2) and (3), substituted “contracts” for “easements”.Enacted provision · exact public law section
(5) in subsection (f)— (A) in paragraph (1), by striking “acquire easements” and inserting “enter into contracts”; and (B) in paragraphs (2) and (3), by striking “easements” each place it appears and inserting “contracts”; andEffective date note
Amendment by Pub. L. 104–127 effective 90 days after Apr. 4, 1996, see section 663(b) of Pub. L. 104–127, set out as a note under section 1922 of this title.Federal Agriculture Improvement and Reform Act of 1996
Pub. L. 104–127 § 642(6) · 110 Stat. 888
Substituted · 7 U.S.C. § 1997(g)
Pub. L. 104–127, § 642(6), substituted “a contract entered into” for “an easement acquired”
Source evidence
Code amendment note
Subsec. (g). Pub. L. 104–127, § 642(6), substituted “a contract entered into” for “an easement acquired”.Enacted provision · exact public law section
(6) in subsection (g), by striking “an easement acquired” and inserting “a contract entered into”.Effective date note
Amendment by Pub. L. 104–127 effective 90 days after Apr. 4, 1996, see section 663(b) of Pub. L. 104–127, set out as a note under section 1922 of this title.Big Cat Public Safety Act
Pub. L. 117–243 § 2(b)(1) · 136 Stat. 2336
Substituted · 7 U.S.C. § 1997(a)(3)
Pub. L. 117–243 substituted “section 3371” for “section 3371(a)”
Source evidence
Code amendment note
Subsec. (a)(3). Pub. L. 117–243 substituted “section 3371” for “section 3371(a)”.Enacted provision · exact public law section
(1) Consolidated farm and rural development act.— Section 349(a)(3) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1997(a)(3)) is amended— (A) by striking “section 2(a)” and inserting “section 2”; and (B) by striking “3371(a)” and inserting “3371”.
28 of 29 references resolved to an enrolled provision · 1 partial
Editorial Notes
Amendments1988–2022 · 4 rounds
2022
Subsec. (a)(3). Pub. L. 117–243 substituted “section 3371” for “section 3371(a)”.
1996
Subsec. (b). Pub. L. 104–127, § 642(1), added subsec. (b) and struck out former subsec. (b) which read as follows: “Subject to subsection (c) of this section, the Secretary may acquire and retain an easement in real property, for a term of not less than 50 years, for conservation, recreational, and wildlife purposes.”
Subsec. (c). Pub. L. 104–127, § 642(2)(A), inserted heading and substituted “The Secretary may enter into a contract under subsection (b) if” for “Such easement may be acquired or retained for real property if”.
Subsec. (c)(2). Pub. L. 104–127, § 642(2)(B), inserted “and” at end.
Subsec. (c)(3). Pub. L. 104–127, § 642(2)(C), struck out “(i)” after “(3)(A)”, substituted “administered by the Secretary” for “administered by the Farmers Home Administration”, redesignated cl. (ii) of subpar. (A) as subpar. (B), substituted “such contract” for “such easement” and a period for “; or” at end, and struck out former subpar. (B) which read as follows: “such property is administered under this chapter by the Secretary; and”.
Subsec. (c)(4). Pub. L. 104–127, § 642(2)(D), struck out par. (4) which read as follows: “such property was (except in the case of wetland and other wildlife habitat) row cropped each year of the 3-year period ending on .”
Subsec. (d). Pub. L. 104–127, § 642(3), substituted “contract” for “easement” in introductory provisions and par. (3).
Subsec. (e). Pub. L. 104–127, § 642(4), in par. (1), substituted “reduce or forgive the outstanding debt of a borrower” for “purchase any such easement from the borrower” in introductory provisions, in subpars. (A) and (B), substituted “administered by the Secretary” for “administered by the Farmers Home Administration” and “contract bears” for “easement bears”, and in par. (2)(A), substituted “contract is entered into” for “easement is acquired”.
Subsec. (f). Pub. L. 104–127, § 642(5), in par. (1), substituted “enter into contracts” for “acquire easements” and in pars. (2) and (3), substituted “contracts” for “easements”.
Subsec. (g). Pub. L. 104–127, § 642(6), substituted “a contract entered into” for “an easement acquired”.
1990
Subsec. (a)(4), (5). Pub. L. 101–624, § 2388(j), redesignated par. (5) as (4).
Subsec. (c). Pub. L. 101–624, § 1815(1)(A)–(D), (F), (G), in introductory provision, struck out “such property” after “real property if”, and inserted “such property” after par. (1), (2), (3)(A)(i), (3)(B), and (4) designations.
Subsec. (c)(3)(A)(ii). Pub. L. 101–624, § 1815(1)(E), amended cl. (ii) generally. Prior to amendment, cl. (ii) read as follows: “the borrower of such loan is unable, as determined by the Secretary, to repay such loan in a timely manner; or”.
Subsec. (e). Pub. L. 101–624, § 1815(2), amended subsec. (e) generally. Prior to amendment, subsec. (e) read as follows: “Any such easement acquired by the Secretary shall be purchased from the borrower involved by canceling that part of the aggregate amount of such outstanding loans of the borrower held by the Secretary under laws administered by the Farmers Home Administration that bears the same ratio to the aggregate amount of the outstanding loans of such borrower held by the Secretary under all such laws as the number of acres of the real property of such borrower that are subject to such easement bears to the aggregate number of acres securing such loans. In no case shall the amount so cancelled exceed the value of the land on which the easement is acquired or the difference between the amount of the outstanding loan secured by the land and the current value of the land, whichever is greater.”
Subsec. (h). Pub. L. 101–624, § 1815(9), struck out subsec. (h) which read as follows: “This section shall not apply with respect to the cancellation of any part of any loan that was made after .”
1988
Subsec. (c)(4). Pub. L. 100–233, § 612(1), inserted “and other wildlife habitat” after “wetland”.
Subsec. (e). Pub. L. 100–233, § 612(2), inserted “or the difference between the amount of the outstanding loan secured by the land and the current value of the land, whichever is greater” at end of second sentence.
Statutory Notes and Related Subsidiaries
Effective Date of 1996 Amendment
Amendment by Pub. L. 104–127 effective 90 days after , see section 663(b) of Pub. L. 104–127, set out as a note under section 1922 of this title.
Credits
1985–2022 · 5 acts
- 1985Pub. L. 87–128, title III, § 349, as added Pub. L. 99–198, title XIII, § 1318(a), , 99 Stat. 1530
- 1988amended Pub. L. 100–233, title VI, § 612, , 101 Stat. 1674
- 1990Pub. L. 101–624, title XVIII, § 1815, title XXIII, § 2388(j), , 104 Stat. 3825, 4053
- 1996Pub. L. 104–127, title VI, § 642, , 110 Stat. 1102
- 2022Pub. L. 117–243, § 2(b)(1), , 136 Stat. 2336.
Show as published
(Pub. L. 87–128, title III, § 349, as added Pub. L. 99–198, title XIII, § 1318(a), , 99 Stat. 1530; amended Pub. L. 100–233, title VI, § 612, , 101 Stat. 1674; Pub. L. 101–624, title XVIII, § 1815, title XXIII, § 2388(j), , 104 Stat. 3825, 4053; Pub. L. 104–127, title VI, § 642, , 110 Stat. 1102; Pub. L. 117–243, § 2(b)(1), , 136 Stat. 2336.)