Page:United States Statutes at Large Volume 106 Part 5.djvu/504

 106 STAT. 4142 PUBLIC LAW 102-554—OCT. 28, 1992 Public Law 102-554 102d Congress An Act Oct. 28, 1992 [H.R. 6129] Agricultural Credit Improvement Act of 1992. 7 USC 1921 note. To amend the Consolidated Farm and Rural Development Act to establish a program to aid beginning farmers and ranchers and to improve the operation of the Farmers Home Administration, and to amend the Farm Credit Act of 1971, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE; TABLE OF CONTENTS. (a) SHORT TITLE. — This Act may be cited as the "Agricultural Credit Improvement Act of 1992". (b) TABLE OF CONTENTS. — The table of contents of this Act is as follows: Sec. 1. Short title; table of contents. Sec. 2. References to the Consolidated Farm and Rural Development Act. Sec. 3. Limitation on aggregate indebtedness. Sec. 4. Interest rate for loans sold into secondary market; guaranteed loan fees. Sec. 5. Federal-State beginning farmer partnership. Sec. 6. Grants for private business enterprises. Sec. 7. Down payment loan program. Sec. 8. Special assistance to certain qualified beginning farmers and ranchers. Sec. 9. Graduation of borrowers with operating loans or guarantees to private commercial credit. Sec. 10. Consideration of borrowers for loan service programs. Sec. 11. Time period within which county committee is required to meet to consider applications for farm ownership and operating loans and guarantees and beginni ng farmer plans. 12. Increase in period during which county committee loan eligibility certification continues in effect. 13. Processing of applications for farm operating loans. 14. Graduation of seasoned direct loan borrowers to the loan guarantee program. 15. Simplified application for ^aranteed loans of $50,000 or less. 16. Inventory lease or lease with option to purchase. 17. Transfer of Indian lands pledged as collateral for FmHA loans. 18. Debt service margin requirements; certified lenders program. 19. Definition of qualified beginning farmer or rancher. 20. Targeting of funds. 21. Equal access to FmHA assistance by gender. 22. State mediation programs. 23. Regulations. 24. Technical amendment. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. Sec. SEC. 2. REFERENCES TO THE CONSOLIDATED FARM AND RURAL DEVELOPMENT ACT. Wherever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Consolidated Farm and Rural Development Act (7 UTS.C. 1921 et seq.), except to the extent otherwise specifically provided. SEC. 3. LIMITATION ON AGGREGATE INDEBTEDNESS. Section 305 (7 U.S.C. 1925) is amended by striking "and 310D of this title" and inserting "310D, and 310E".

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