7 U.S.C. § 1993: Transition to private…

Summary

The Secretary must create a plan and simple rules, with performance targets, to help people who get or are insured for farm loans under subchapter I or II move to private commercial or other credit as quickly as possible. The Secretary must also coordinate that plan with the borrower training program (sec. 2006a), the loan assessment process (sec. 2006b), the supervised credit rule (sec. 2006c), the market placement program (sec. 2006d), and any other appropriate programs or authorities the Secretary chooses.

Title 7, §1993

Agriculture, Source: USLM XML via OLRC

(a)In general

In making or insuring a farm loan under subchapter I or II, the Secretary shall establish a plan and promulgate regulations (including performance criteria) that promote the goal of transitioning borrowers to private commercial credit and other sources of credit in the shortest period of time practicable.

(b)Coordination

In carrying out this section, the Secretary shall integrate and coordinate the transition policy described in subsection (a) with—

(1)the borrower training program established by section 2006a of this title;

(2)the loan assessment process established by section 2006b of this title;

(3)the supervised credit requirement established by section 2006c of this title;

(4)the market placement program established by section 2006d of this title; and

(5)other appropriate programs and authorities, as determined by the Secretary.

Notes & Related Subsidiaries

Editorial Notes

Codification Pub. L. 110–234 and Pub. L. 110–246 enacted identical sections. Pub. L. 110–234 was repealed by section 4(a) of Pub. L. 110–246.

Prior Provisions

A prior section 1993, Pub. L. 87–128, title III, § 345, as added Pub. L. 94–68, § 9, Aug. 5, 1975, 89 Stat. 382; amended Pub. L. 103–437, § 4(a)(7), Nov. 2, 1994, 108 Stat. 4582, related to testimony by Secretary of Agriculture before congressional committees, prior to repeal by Pub. L. 104–127, title VII, § 750, Apr. 4, 1996, 110 Stat. 1129.

Statutory Notes and Related Subsidiaries

Effective Date

Enactment of this section and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective May 22, 2008, the date of enactment of Pub. L. 110–234, see section 4 of Pub. L. 110–246, set out as a note under section 8701 of this title.

§1993 Transition to Private Commercial or Other Sources of Credit