Page:United States Statutes at Large Volume 94 Part 1.djvu/180

 94 STAT. 130

PUBLIC LAW 96-220—MAR. 30, 1980

7 USC prec. 1961 "°^-

(4) at the end of section 205, adding a new subsection (e) as follows: "(e) No loan that is for more than $300,000 may be insured under this title, unless the Secretary determines that the applicant is not able to obtain from a private or cooperative lending agency a loan guaranteed by the Secretary under this title sufficient to finance the applicant's actual needs at reasonable rates and terms."; 7 USC prec. 1961 (5) in section 207(c), striking out "$4,000,000,000" and inserting ^°^in lieu thereof "$6,000,000,000"; 7 USC prec. 1961 (6) in section 211, striking out "May 15, 1980" and inserting in "o*«lieu thereof "September 30, 1981"; and (7) adding a t the end thereof a new section 212 as follows: "STUDY AND REPORT

7 USC prec. 1961 "SEC. 212, (a) The Secretary shall conduct a comprehensive study of ^°^the operation and effectiveness of the program of financial assistance authorized under this title. The study shall include, but shall not be limited to, an examination and analysis of the following items: "(1) the effect of loans insured or guaranteed under this title on the overall financial condition of borrowers and their ability to maintain viable agricultural production operations; "(2) the implementation and effect of the provisions of this title requiring, as a condition of eligibility, that loan applicants not be able to obtain sufficient credit elsewhere; "(3) the loan repayment delinquency rate and the percentage of borrowers who subsequently are able to obtain credit from other sources and repay the loans extended to them under this title; "(4) the use under this title of loan guarantees as compared with insured loans; "(5) the purposes for which loans are actually insured or guaranteed under this title in relation to the purposes specified Ante, p. 129. in section 203, and an evaluation of the family farm preference noVe ^ P""^^- ^^^^ established under section 203(b); "(6) the methods of servicing loans and encouraging the repayment of loans insured or guaranteed under this title; and "(7) the need for extending beyond September 30, 1981, the authority for insuring and guaranteeing loans under this title. Report to "(b) The Secretary shall complete the study required under this Congress. section and submit a report to Congress by March 31, 1981. Any recommendations by the Secretary for extending the authority to insure and guarantee loans under this title shall contain an evaluation of possible alternatives, such as (1) the merger of the program of financial assistance authorized under this title with the farm ownership and operating loan programs authorized under the Consolidated 7 USC 1921 Farm and Rural Development Act, and (2) the combination of all ^°^farm loan programs into a single program.".

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