Page:United States Statutes at Large Volume 116 Part 1.djvu/370

 116 STAT. 344 PUBLIC LAW 107-171—MAY 13, 2002 Subtitle C—Emergency Loans SEC. 5201. EMERGENCY LOANS IN RESPONSE TO AN EMERGENCY RESULTING FROM QUARANTINES. (a) LOAN AUTHORITY.— Section 321(a) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1961(a)) is amended— (1) in each of the 1st and 3rd sentences, by striking "a natural disaster in the United States or by" and inserting "a quarantine imposed by the Secretary under the Plant Protection Act or the animal quarantine laws (as defined in section 2509 of the Food, Agriculture, Conservation, and Trade Act of 1990), a natural disaster in the United States, or"; and (2) in the 4th sentence— (A) by striking "a natural disaster" and inserting "such a quarantine or natural disaster"; and (B) by striking "by such natural disaster" and inserting "by such quarantine or natural disaster". (b) CONFORMING AMENDMENT.— Section 323 of such Act (7 U.S.C. 1963) is amended by inserting "quarantine," before "natural disaster". Subtitle D—Administrative Provisions 7 USC 1922 note. SEC. 5301. EVALUATIONS OF DIRECT AND GUARANTEED LOAN PRO- GRAMS. (a) STUDIES.— The Secretary of Agriculture shall conduct 2 studies of the direct and guaranteed loan progams under sections 302 and 311 of the Consolidated Farm and Rural Development Act, each of which shall include an examination of the number, average principal amount, and delinquency and default rates of loans provided or guaranteed during the period covered by the study. (b) PERIODS COVERED.— (1) FIRST STUDY.— One study under subsection (a) shall cover the 1-year period that begins 1 year after the date of the enactment of this section. (2) SECOND STUDY.— One study under subsection (a) shall cover the 1-year period that begins 3 years after such date of enactment. (c) REPORTS TO THE CONGRESS.— At the end of the period covered by each study under this section, the Secretary of Agriculture shall submit to the Congress a report that contains an evaluation of the results of the study, including an analysis of the effectiveness of loan programs referred to in subsection (a) in meeting the credit needs of agricultural producers in an efficient and fiscally responsible manner. SEC. 5302. ELIGIBILITY OF TRUSTS AND LIMITED LIABILITY COMPA- NIES FOR FARM OWNERSHIP LOANS, FARM OPERATING LOANS, AND EMERGENCY LOANS. (a) IN GENERAL.—Sections 302(a), 311(a), and 321(a) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1922(a), 1941(a), and 1961(a)) are each amended by striking "and joint operations" each place it appears and inserting "joint operations, trusts, and limited liability companies".

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