Page:United States Statutes at Large Volume 122.djvu/1937

 12 2 STA T . 1 9 1 4PUBLIC LA W 11 0– 24 6—J U NE 1 8, 2008 (I I )bystrik i ng‘ ‘ 60pe r c ent ’ ’ a n d inserting ‘‘an a mou nt not l ess t h an 2⁄3 o f the amount’’ and (III) by inserting ‘‘and j oint financing arrange - ments under section 3 0 7 (a)(3)( D )’’ after ‘‘section 3 1 0 E ’’; and ( B ) in clause (ii)(III) , by striking ‘‘ 2 003 through 2007, 3 5 percent’’ and inserting ‘‘200 8 through 2012, an amount that is not less than 50 percent of the total amount’’; and (2) in subparagraph (B)(i), by striking ‘‘25 percent’’ and inserting ‘‘an amount that is not less than 4 0 percent of the total amount’’ .SEC.530 3. LOAN A UTH O RIZ ATION LE V ELS. S ection 346(b)(1) of the C onsolidated F arm and R ural De v elop- ment A ct (7 U .S.C. 1 9 94(b)(1)) is amended — (1) in the matter preceding subparagraph (A), by striking ‘‘ $ 3,796,000,000 for each of fiscal years 2003 through 2007’’ and inserting ‘‘$4,226,000,000 for each of fiscal years 2008 through 2012’’; and (2) in subparagraph (A)— (A) in the matter preceding clause (i), by striking ‘‘$770,000,000’’ and inserting ‘‘$1,200,000,000’’; (B) in clause (i), by striking ‘‘$205,000,000’’ and inserting ‘‘$350,000,000’’; and (C) in clause (ii), by striking ‘‘$565,000,000’’ and inserting ‘‘$850,000,000’’. SEC. 530 4 . TRANSITION TO P RIVATE CO M MERCIAL OR OTHER SOURCES O F CRE D IT. Subtitle D of the Consolidated Farm and Rural Development Act (7 U.S.C. 1981 – 2008r) is amended by inserting after section 344 the follo w ing

‘SEC. 345. TRANSITION TO PRIVATE COMMERCIAL OR OTHER SOURCES OF CREDIT. ‘‘(a) I NGE NE RAL .—In making or insuring a farm loan under subtitle A or B, the Secretary shall establish a plan and promulgate regulations (including performance criteria) that promote the goal of transitioning borrowers to private commercial credit and other sources of credit in the shortest period of time practicable. ‘‘(b) C O OR DI NA T ION.—In carrying out this section, the Secretary shall integrate and coordinate the transition policy described in subsection (a) with— ‘‘(1) the borrower training program established by section 359; ‘‘(2) the loan assessment process established by section 360; ‘‘(3) the supervised credit re q uirement established by sec- tion 361; ‘‘(4) the market placement program established by section 362; and ‘‘(5) other appropriate programs and authorities, as deter- mined by the Secretary.’’. Plan.Regu la tio n s . Cr iteria. 7US C 19 9 3.

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