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

Summary

Aid is available when one basic part of a farm, ranch, or aquaculture operation loses at least 30% of normal production per acre or per animal because of a disaster, and the applicant meets program eligibility. The Secretary may allow a smaller percent. Loss is figured using the previous year’s average monthly price, and loans cover 80% of the calculated loss or a higher percent the Secretary sets.

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