2012 US Code
Title 7 - Agriculture
Chapter 50 - AGRICULTURAL CREDIT (§§ 1921 - 2009ee-3)
Subchapter III - EMERGENCY LOANS (§§ 1961 - 1971)
Section 1970 - Eligibility for assistance based on production loss
| Publication Title | United States Code, 2012 Edition, Title 7 - AGRICULTURE |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 7 - AGRICULTURE CHAPTER 50 - AGRICULTURAL CREDIT SUBCHAPTER III - EMERGENCY LOANS Sec. 1970 - Eligibility for assistance based on production loss |
| Contains | section 1970 |
| Date | 2012 |
| Laws in Effect as of Date | January 15, 2013 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 87-128, title III, §329, as added Pub. L. 94-68, §7, Aug. 5, 1975, 89 Stat. 382; amended Pub. L. 97-35, title I, §163, Aug. 13, 1981, 95 Stat. 378. |
| Statutes at Large References | 89 Stat. 382 95 Stat. 378 |
| Public Law References | Public Law 87-128, Public Law 94-68, Public Law 97-35 |
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The Secretary shall make financial assistance under this subchapter available to any applicant seeking assistance based on production losses if the applicant shows that a single enterprise which constitutes a basic part of the applicant's farming, ranching, or aquaculture operation has sustained at least a 30 per centum loss of normal per acre or per animal production, or such lesser per centum of loss as the Secretary may determine, as a result of the disaster based upon the average monthly price in effect for the previous year and the applicant otherwise meets the conditions of eligibility prescribed under this subchapter. Such loans shall be made available based upon 80 per centum, or such greater per centum as the Secretary may determine, of the total calculated actual production loss sustained by the applicant.
(Pub. L. 87–128, title III, §329, as added Pub. L. 94–68, §7, Aug. 5, 1975, 89 Stat. 382; amended Pub. L. 97–35, title I, §163, Aug. 13, 1981, 95 Stat. 378.)
Amendments1981—Pub. L. 97–35 increased specific per centum loss from 20 to 30, and authorized a lesser per centum loss pursuant to determinations by the Secretary under applicable criteria.
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