Page:United States Statutes at Large Volume 101 Part 3.djvu/371

 PUBLIC LAW 100-233—JAN. 6, 1988

101 STAT. 1669

SEC. 610. DISPOSITION AND LEASING OF FARMLAND.

(a) CLASSIFICATION OF PROPERTY.—Section 335(c) (7 U.S.C. 1985(c)) is amended— (1) by inserting "(D" after the subsection designation; (2) by inserting after the first sentence the following new sentence: "The County Committee shall classify or reclassify real property (including real property administered by the Secretary on the date of the enactment of this sentence) that is farmland, as being suitable for farming operation for such disposition unless the property, including property subdivided in accordance with subsection (e)(5), cannot be used to meet any of the purposes of section 303 (including being used as a start-up or add-on parcel of farmland)."; and (3) by adding at the end thereof the following new paragraph: "(2) Notwithstanding any other provision of law, the Secretary Contracts. shall sell suitable farmland administered under this subtitle to operators (as of the time immediately after such contract for sale or lease is entered into) of not larger than family sized farms, as determined by the county committee. In selling such land, the county committee shall— "(A) grant a priority to persons eligible for loans under subtitle A, including individuals approved for, but who, as of the date of the enactment of this paragraph, have not yet received, such loans; "(B) offer suitable land at a price not greater than that which reflects the appraised market value of such land; "(C) select from among qualified applicants the applicant who has the greatest need for farm income and best meets the criteria for eligibility to receive loans under subtitle A; and "(D) publish or caused to be published three consecutive Public weekly announcements at least twice annually of the availabil- information. ity of such farmland, in at least one newspaper that is widely circulated in the county in which the land is located until the property is sold.". (b) DISPOSITION AND LEASING.—Section 335(e) (7 U.S.C. 1985(e)) is amended— (1) by striking out paragraph (1) and inserting in lieu thereof the following new paragraph: "(IXAXi) During the 180-day period beginning on the date of acquisition, or during the applicable period under State law, the Secretary shall allow the borrower from whom the Secretary acquired real property used to secure any loan made to the borrower under this title (hereinafter referred to in this paragraph as the 'borrower-owner') to purchase or lease such property. "(ii) The period for the purchase or lease of real property described under clause (i), by a person described in clauses (i) or (ii) of subparagraph (C), shall expire 190 days after the date of acquisition, or after the applicable period under State law. "(iii) The rights regarding the purchase or lease of real property provided by this paragraph and accorded a person described in subparagraph (C) may be freely and knowingly waived by such person. "(B) Any purchase or lease under subparagraph (A) shall be on such terms and conditions as are established in regulations promulgated by the Secretary.

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