Page:United States Statutes at Large Volume 94 Part 2.djvu/594

 94 STAT. 1872 "Owneroperator." 7 USC 1991.

Resident aliens. 7 USC 1996.

8 USC 1101 note. Regulations. Submittal to congressional committees.

PUBLIC LAW 96-438—OCT. 13, 1980

(2) in section 343, inserting a new clause (3) as follows: "(3) the term 'owner-operator' shall include in the State of Hawaii the lessee-operator of real property in any case in which the Secretary determines that such real property cannot be acquired in fee simple by such lessee-operator, that adequate security is provided for the loan with respect to such real property for which such lesseeH)perator applies under this title, and that there is a reasonable probability of accomplishing the objectives and repayment of such loan,"; and (3) adding at the end thereof a new section 348 as follows: "SEC. 348. Notwithstanding the provisions of this title limiting the making and insuring of loans to citizens of the United States, the Secretary ma^ make and insure loans under this title to aliens lawfully admitted to the United States for permanent residence under the Immigration and Nationality Act: Provided, That no loans may be made or insured under this title to such aliens until the Secretary issues regulations establishing the terms and conditions under which such aliens may receive loans: Provided further, That the Secretary shall submit the regulations to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate at least thirty days prior to the date the regulations are published in the Federal Register.". EMERGENCY LOAN PROGRAM

Repeal.

Eligibility. 7 USC 1961.

42 USC 5121 note.

7 USC 1983.

SEC. 3. (a) Section 120 of the Act of July 2, 1980 (94 Stat. 841), is repealed. Qo) Subtitle C of the Consolidated Farm and Rural Development Act is amended by— (1) amending sections 321,322, 323, and 324 to read as follows: "SEC. 321. (a) The Secretary shall make and insure loans under this subtitle to (1) established farmers, ranchers, or persons engaged in aquaculture, who are citizens of the United States, and (2) farm cooperatives or private domestic corporations or partnerships in which a majority interest is held by members, stockholders, or partners who are citizens of the United States if the cooperative, corporation, or partnership is engaged primarily in farming, ranching, or aquaculture, where the Secretary finds that the applicants* farming, rgmching, or aquaculture operations have been substantially affected by a natural disaster in the United States or by a major disaster or emergency designated by the President under the Disaster Relief Act of 1974: Provided, That they have experience and resources necessary to assure a reasonable prospect for successful operation with the assistance of such loan and are not able to obtain sufficient credit elsewhere. "(b) Notwithstanding the credit elsewhere requirements of subsection (a) of this section and section 333(a) of this title, the Secretary shall implement a program under which the Secretary may make or insure loans under this subtitle to applicants able to obtain sufficient credit elsewhere, subject to the other terms and conditions for loans made or insured under this subtitle and such other terms and conditions as the Secretary may, by regulation, prescribe.

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