7 U.S.C. 1964: Terms of loans

1998

• Pub. L. 105–277 inserted heading, designated existing provisions as par. (1) and inserted heading, and added par. (2). (Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 1999) Law text · (d)

1996

• Pub. L. 104–127, §624, inserted section catchline. (Federal Agriculture Improvement and Reform Act of 1996) Law text
• Pub. L. 104–127, §624, added subsec. (a) and struck out former subsec. (a) which read as follows: "No loan made or insured under this subchapter may exceed the amount of the actual loss caused by the disaster or $500,000, whichever is less, for each disaster." (Federal Agriculture Improvement and Reform Act of 1996) Law text · (a)
• Pub. L. 104–127, §625, in last sentence, substituted "establish the value of the assets as of the day before the occurrence of the natural disaster, major disaster, or emergency that is the basis for a request for assistance under this subchapter or the Robert T. Stafford Disaster Reli… (Federal Agriculture Improvement and Reform Act of 1996) Law text · (d)

1988

• Pub. L. 100–707 substituted "and Emergency Assistance Act" for "Act of 1974". · (d)

1985

• Pub. L. 99–198, §1308(c), in amending subsec. (a) generally, struck out par. (1) designation, substituted "No loan" for "Except as otherwise provided in paragraph (2) of this subsection, no loan", and struck out par. (2) authorization of loans through Sept. 30, 1982 for applicants unab… · (a)
• Pub. L. 99–198, §1308(b)(3), substituted provision for interest rates prescribed by the Secretary but "not in excess of 8 percent per annum" for former such provision but "(A) if the applicant is not able to obtain sufficient credit elsewhere, not in excess of 8 per centum per annum… · (b)

1984

• Pub. L. 98–258 inserted provision that, if farm assets (including land, livestock, and equipment) are used as collateral to secure a loan made under this subchapter, the Secretary shall value the assets based on the higher of (A) the value of the assets on the day before the date the g… · (d)

1981

• Pub. L. 97–35 in cl. (A) increased amount from 5 to 8 per centum, and in cl. (B) substituted provisions relating to a rate not in excess of the rate prevailing in the private market for similar loans, for provisions relating to a rate not in excess of current average market yield on… · (b)

1980

• Pub. L. 96–348, §3(a), (b)(1), repealed section 120 of Pub. L. 96–302 (see par. below) and amended subsec. (a) generally, substituting provisions relating to the limitation on loans made or insured under this subchapter and authorizing excess loan amounts for provisions relating to the… · (a)
• Pub. L. 96–302, §120(b) (see par. above), substituted interest rate provisions of first sentence for prior provision for loans "(1) at a rate of interest not in excess of 5 per centum per annum on loans up to the amount of the actual loss caused by the disaster, and (2) for any loans or portions of… · (a)
• Pub. L. 96–438, §3(b)(1), substituted provisions relating to interest rates on loans made or insured under this subchapter for provisions relating to eligibility of political subdivisions of states for grants under this chapter. · (b)
• Pub. L. 96–438, §3(b)(1), added subsecs. (c) to (e). · (c), (d), (e)

1978

• Pub. L. 95–334 redesignated subsec. (c) as (b). Former subsec. (b), which related to reductions in the interest rate based on interest rate of the Small Business Administration, was struck out. · (b), (c)

1977

• Pub. L. 95–89 designated existing provisions as subsec. (a) and struck out last proviso prescribing for any loan made by the Small Business Administration in connection with a disaster occurring on or after Aug. 5, 1975, under section 636(b)(1), (2), or (4) of title 15 a rate of intere… · (a)
• Pub. L. 95–89 added subsecs. (b) and (c). · (b), (c)

1975

• Pub. L. 94–68 made the existing rate of 5 percent applicable to loans up to the amount of the actual loss caused by the disaster, inserted provisions that for loans or portions of loans in excess of that amount the interest rate will be that prevailing in the private market for similar loans, as de…

1973

• Pub. L. 93–24 substituted "5" for "3" per centum.