Page:United States Statutes at Large Volume 106 Part 5.djvu/513

 PUBLIC LAW 102-554—OCT. 28, 1992 106 STAT. 4151 EuGiBLE FOR ASSISTANCE UNDER THIS SUBTITLE.— Notwithstanding any other provision of this subtitle: "(1) GENERAL RULE. —Except as provided in paragraph (2), the Secretary shall not— "(A) make a loan to a borrower under this subtitle for any year after the 10th year for which such a loan is made to the borrower; or "(B) guarantee for any year a loan made to a borrower for a purpose specified in this subtitle, after the 15th year for which loans under this subtitle are made to, or such a guarantee is provided with respect to, the borrower. "(2) TRANSITION RULE.—I f, as of the date of enactment of this section, the Secretary has made a loan to a borrower under Uus subtitle for 5 or more years, or has provided a guarantee for 10 or more years wilii respect to one or more loans made to the borrower for a purpose specified in this subtitle, the Secretary shall not make a loan to the borrower under tiiis subtitle, or provide such a guarantee with respect to a loan made to the borrower for a purpose specified in this subtitle, after the 5th year occurring after the date of enactment for which a loan is made under this subtitle to, or such a guarantee is provided with respect to, the borrower.". SEC. 10. CONSIDERATION OF BORROWERS FOR LOAN SERVICE PRO- GRAMa The first sentence of section 331D(e) (7 U.S.C. 1981d(e)) is amended by inserting after "not later than 60 days after receipt of the notice required in this section" the following: "or, in extraordinary circumstances as determined by the applicable State director, after the 60-day period". SEC. 11. TIME PERIOD WITHIN WHICH COUNTY COBIMITTEE IS REQUIRED TO MEET TO CONSIDER APPLICAHONS FOR FARM OWNERSHIP AND OPERATING LOANS AND GUARAN- TEES AND BEGINNING FARMER PLANS. Section 332 (7 U.S.C. 1982) is amended— (1) in subsection (c), by striking The committee" and inserthig "Subject to subsection (e), the committee"; and (2) by adding at the end the following new subsection: "(e) The county committee shall meet to consider approval of an application received by the committee for a loan under this title, a guarantee under section 309(h), or a plan of farm operation under section 318, not later than— "(1) 5 days after receipt of the application if at the time of the receipt there is at least one other such application or plan pending; or "(2) 15 days after receipt of the application if at the time of the receipt there are no other such applications or plans pending.". SEC. 12. INCREASE IN PERIOD DURING WHICH COUNTY COMMITTEE LOAN ELIGIBILITY CERTIFICATION CONTINUES IN EFFECT. Section 333(2)(A)(iii) (7 U.S.C. 1983(2)(A)(iii)) is amended by striking "2 years" and inserting "5 years". 59-194 O—93 17:QL3(Pt5)
 * 0>) LIMITATION ON PERIOD FOR WHICH BORROWERS ARE

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