Page:United States Statutes at Large Volume 110 Part 1.djvu/1152

 110 STAT. 1128 PUBLIC LAW 104-127—APR. 4, 1996 underemployment, outmigration, or low employment growth in economically distressed rural areas that the Secretary determines have a substantial need for the assistance. The assistance may include planning and feasibility studies, management and operational assistance, and studies evaluating the need for development potential of projects that increase employment and improve economic growth in the areas. "(8) GRANTS TO DEFRAY ADMINISTRATIVE COSTS.— The Secretary may make grants to defray not to exceed 75 percent of the costs incurred by organizations and public bodies to carry out projects for which grants or loans are made under this subsection. For purposes of determining the non-Federal share of the costs, the Secretary shall consider contributions in cash and in kind, fairly evaluated, including premises, equipment, and services. "(9) AUTHORIZATION OF APPROPRIATIONS. — There are authorized to be appropriated to carry out this subsection $50,000,000 for each of fiscal years 1996 through 2002."; (5) by striking subsections (f), (g), (h), and (i); (6) by redesignating subsection (j) &s subsection (f); and (7) by adding at the end the following: " (g) LOAN GUARANTEES FOR THE PURCHASE OF COOPERATIVE STOCK.— "(1) DEFINITION OF FARMER.—In this subsection, the term 'farmer' means any farmer that the Secretary determines is a family farmer. "(2) LOAN GUARANTEES.— The Secretary may guarantee loans under this section to individual farmers for the purpose of purchasing start-up capital stock of a farmer cooperative established for the purpose of processing an agricultural commodity. "(3) ELIGIBILITY.—To be eligible for a loan guarantee under this subsection, a farmer must produce the agricultural commodity that will be processed by the cooperative.", (b) CONFORMING AMENDMENTS.— (1) Clause (iii) of section 307(a)(6)(B) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1927(a)(6)(B)) (as redesignated by section 661(a)(2)) is amended by striking "subsections (d) and (e) of section 310B" and inserting "section 310B(d)". (2) Section 232(c)(2) of the Department of Agriculture Reorganization Act of 1994 (7 U.S.C. 6942(c)(2)) is amended— (A) by striking "310B(b)(2)" and inserting "310B(b)"; and (B) by striking "1932(b)(2)" and inserting "1932(b)". (3) Section 233(b) of the Department of Agriculture Reorganization Act of 1994 (7 U.S.C. 6943(b)) is amended— (A) by striking paragraph (2); and (B) by redesignating paragraph (3) as paragraph (2). SEC. 748. ADMINISTRATION. Section 331(b)(4) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1981(b)(4)) is amended— (1) by inserting after "claims" the following: "(including debts and claims arising from loan guarantees)"; (2) by striking "Farmers Home Administration or" and inserting "Consolidated Farm Service Agency, Rural Utilities

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