2019 US Code
Title 7 - Agriculture
Chapter 50 - Agricultural Credit
Subchapter IV - Administrative Provisions
Sec. 2008x - Reporting
| 7 U.S.C. § 2008x (2019) |
| §2008x. Reporting |
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(a) Definition of farm loan
In this section, the term "farm loan" means— (1) a farm ownership loan under subtitle A of the Consolidated Farm and Rural Development Act (7 U.S.C. 1922 et seq.); and (2) an operating loan under subtitle B of that Act (7 U.S.C. 1941 et seq.). For each fiscal year, the Secretary shall prepare a report that includes— (A) aggregate data based on a review of each outstanding farm loan made or guaranteed by the Secretary describing, for the United States and for each State and county in the United States— (i) the age of the recipient producer; (ii) the duration that the recipient producer has engaged in agricultural production; (iii) the size of the farm or ranch of the recipient producer; (iv) the race, ethnicity, and gender of the recipient producer; (v) the agricultural commodity or commodities, or type of enterprise, for which the loan was secured; (vi) the amount of the farm loan made or guaranteed; (vii) the type of the farm loan made or guaranteed; and (viii) the default rate of the farm loan made or guaranteed; (B) for each State and county in the United States, data demonstrating the number of outstanding farm loans made or guaranteed, according to loan size cohort; and (C) an assessment of actual loans made or guaranteed as measured against target participation rates for beginning and socially disadvantaged farmers, broken down by State, as described in sections 346(b)(2) and 355 of the Consolidated Farm and Rural Development Act (7 U.S.C. 1994(b)(2), 2003). The report described in paragraph (1) shall be— (A) submitted— (i) to— (I) the Committee on Agriculture of the House of Representatives; (II) the Committee on Appropriations of the House of Representatives; (III) the Committee on Agriculture, Nutrition, and Forestry of the Senate; and (IV) the Committee on Appropriations of the Senate; and (ii) not later than December 30, 2019, and annually thereafter; and (B) made publicly available not later than 90 days after the date described in subparagraph (A)(ii). Not later than 4 years after December 20, 2018 (and every 5 years thereafter), the Secretary shall— (A) prepare a comprehensive review of all reports submitted under subsection (b)(2); (B) identify trends within data outlined in subsection (b)(1), including the extent to which target annual participation rates for beginning and socially disadvantaged farmers (as defined by the Secretary) are being met for each loan type; and (C) provide specific actions the Department will take to improve the performance of direct and guaranteed loans with respect to underserved producers and any recommendations the Secretary may make for further congressional action. The comprehensive review described in paragraph (1) shall be— (A) submitted to— (i) the Committee on Agriculture of the House of Representatives; (ii) the Committee on Appropriations of the House of Representatives; (iii) the Committee on Agriculture, Nutrition, and Forestry of the Senate; and (iv) the Committee on Appropriations of the Senate; and (B) made publicly available not later than 90 days after the date of submission under subparagraph (A). In preparing any report or review under this section, the Secretary shall aggregate or de-identify the data in a manner sufficient to ensure that the identity of a recipient producer associated with the data cannot be ascertained. |
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(Pub. L. 115–334, title V, §5413, Dec. 20, 2018, 132 Stat. 4722.) |
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REFERENCES IN TEXT
The Consolidated Farm and Rural Development Act, referred to in subsec. (a), is title III of Pub. L. 87–128, Aug. 8, 1961, 75 Stat. 307. Subtitles A and B of the Act are classified generally to subchapters I (§1922 et seq.) and II (§1941 et seq.), respectively, of this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 1921 of this title and Tables. CODIFICATIONSection was enacted as part of the Agriculture Improvement Act of 2018, and not as part of the Consolidated Farm and Rural Development Act which comprises this chapter. DEFINITION OF "SECRETARY""Secretary" as meaning the Secretary of Agriculture, see section 2 of Pub. L. 115–344, set out as a note under section 9001 of this title. |
| United States Code, 2018 Edition, Supplement 1, Title 7 - AGRICULTURE |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 7 - AGRICULTURE CHAPTER 50 - AGRICULTURAL CREDIT SUBCHAPTER IV - ADMINISTRATIVE PROVISIONS Sec. 2008x - Reporting |
| section 2008x |
| 2019 |
| January 24, 2020 |
| No |
| standard |
| 75 Stat. 307 132 Stat. 4722 |
| Public Law 87-128, Public Law 115-334, Public Law 115-344 |
