§1970 — Title 7 Agriculture | U.S. Code

Summary

Provide financial help to any farmer, rancher, or aquaculture operator who shows that one main part of their business lost at least 30 percent of its usual production per acre or per animal because of a disaster, or a smaller percent the Secretary allows. The loss is measured using the previous year’s average monthly price, and the person must meet the program’s other eligibility rules. Loans will cover 80 percent of the calculated actual production loss, or a larger share if the Secretary decides.

Title 7, §1970

Agriculture — Source: USLM XML via OLRC

The Secretary shall make financial assistance under this subchapter available to any applicant seeking assistance based on production losses if the applicant shows that a single enterprise which constitutes a basic part of the applicant’s farming, ranching, or aquaculture operation has sustained at least a 30 per centum loss of normal per acre or per animal production, or such lesser per centum of loss as the Secretary may determine, as a result of the disaster based upon the average monthly price in effect for the previous year and the applicant otherwise meets the conditions of eligibility prescribed under this subchapter. Such loans shall be made available based upon 80 per centum, or such greater per centum as the Secretary may determine, of the total calculated actual production loss sustained by the applicant.

Editorial Notes

Amendments

1981—Pub. L. 97–35 increased specific per centum loss from 20 to 30, and authorized a lesser per centum loss pursuant to determinations by the Secretary under applicable criteria.

§1970 Eligibility for assistance based on production loss

Summary

Title 7, §1970

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata