{"identifier":"/us/usc/t7/s1924","title":7,"num":"\u00a7\u202f1924.","heading":"Conservation loan and loan guarantee program","text":"\u00a7\u202f1924.\nConservation loan and loan guarantee program\n(a)\nIn general\nThe Secretary may make or guarantee qualified conservation loans to eligible borrowers under this section.\n(b)\nDefinitions\nIn this section:\n(1)\nQualified conservation loan\nThe term \u201cqualified conservation loan\u201d means a loan, the proceeds of which are used to cover the costs to the borrower of carrying out a qualified conservation project.\n(2)\nQualified conservation project\nThe term \u201cqualified conservation project\u201d means conservation measures that address provisions of a conservation plan of the eligible borrower.\n(3)\nConservation plan\nThe term \u201cconservation plan\u201d means a plan, approved by the Secretary, that, for a farming or ranching operation, identifies the conservation activities that will be addressed with loan funds provided under this section, including\u2014\n(A) the installation of conservation structures to address soil, water, and related resources;\n(B) the establishment of forest cover for sustained yield timber management, erosion control, or shelter belt purposes;\n(C) the installation of water conservation measures;\n(D) the installation of waste management systems;\n(E) the establishment or improvement of permanent pasture;\n(F) compliance with\nsection 3812 of title 16\n(G) other purposes consistent with the plan, including the adoption of any other emerging or existing conservation practices, techniques, or technologies approved by the Secretary.\n(c)\nEligibility\n(1)\nIn general\nThe Secretary may make or guarantee loans to farmers or ranchers in the United States, farm cooperatives, private domestic corporations, partnerships, joint operations, trusts, limited liability companies, or such other legal entities as the Secretary considers appropriate that are controlled by farmers or ranchers and engaged primarily and directly in agricultural production in the United States.\n(2)\nRequirements\nTo be eligible for a loan under this section, applicants shall meet the requirements in subparagraphs (A) and (B) of\nsection 1922(a)(1) of this title\n(d)\nPriority\nIn making or guaranteeing loans under this section, the Secretary shall give priority to\u2014\n(1) qualified beginning farmers or ranchers and socially disadvantaged farmers or ranchers;\n(2) owners or tenants who use the loans to convert to sustainable or organic agricultural production systems; and\n(3) producers who use the loans to build conservation structures or establish conservation practices to comply with\nsection 3812 of title 16\n(e)\nLimitations applicable to loan guarantees\nThe portion of a loan that the Secretary may guarantee under this section shall be\u2014\n(1) 80 percent of the principal amount of the loan; or\n(2) in the case of a producer that is a qualified socially disadvantaged farmer or rancher or a beginning farmer or rancher, 90 percent of the principal amount of the loan.\n(f)\nAdministrative provisions\nThe Secretary shall ensure, to the maximum extent practicable, that loans made or guaranteed under this section are distributed across diverse geographic regions.\n(g)\nCredit eligibility\nThe provisions of paragraphs (1) and (3) of\nsection 1983 of this title\n(h)\nAuthorization of appropriations\nThere is authorized to be appropriated to the Secretary to carry out this section $150,000,000 for each of fiscal years 2014 through 2023.","url":"https://projectusc.org/usc/t7/s1924.html","content":[{"t":"sec","id":"/us/usc/t7/s1924","children":[{"t":"num","text":"\u00a7\u202f1924."},{"t":"heading","text":"Conservation loan and loan guarantee program"},{"t":"subsec","id":"/us/usc/t7/s1924/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"In general"},{"t":"content","children":[{"t":"p","text":"The Secretary may make or guarantee qualified conservation loans to eligible borrowers under this section.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t7/s1924/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Definitions"},{"t":"chapeau","text":"In this section:"},{"t":"para","id":"/us/usc/t7/s1924/b/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"Qualified conservation loan"},{"t":"content","children":[{"t":"p","text":"The term \u201cqualified conservation loan\u201d means a loan, the proceeds of which are used to cover the costs to the borrower of carrying out a qualified conservation project.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1924/b/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Qualified conservation project"},{"t":"content","children":[{"t":"p","text":"The term \u201cqualified conservation project\u201d means conservation measures that address provisions of a conservation plan of the eligible borrower.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1924/b/3","children":[{"t":"num","text":"(3)"},{"t":"heading","text":"Conservation plan"},{"t":"chapeau","text":"The term \u201cconservation plan\u201d means a plan, approved by the Secretary, that, for a farming or ranching operation, identifies the conservation activities that will be addressed with loan funds provided under this section, including\u2014"},{"t":"subpara","id":"/us/usc/t7/s1924/b/3/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" the installation of conservation structures to address soil, water, and related resources;","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t7/s1924/b/3/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" the establishment of forest cover for sustained yield timber management, erosion control, or shelter belt purposes;","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t7/s1924/b/3/C","children":[{"t":"num","text":"(C)"},{"t":"content","text":" the installation of water conservation measures;","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t7/s1924/b/3/D","children":[{"t":"num","text":"(D)"},{"t":"content","text":" the installation of waste management systems;","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t7/s1924/b/3/E","children":[{"t":"num","text":"(E)"},{"t":"content","text":" the establishment or improvement of permanent pasture;","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t7/s1924/b/3/F","children":[{"t":"num","text":"(F)"},{"t":"content","text":" compliance with ","children":[{"t":"ref","text":"section 3812 of title 16","href":"/us/usc/t16/s3812","tail":"; and"}],"tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t7/s1924/b/3/G","children":[{"t":"num","text":"(G)"},{"t":"content","text":" other purposes consistent with the plan, including the adoption of any other emerging or existing conservation practices, techniques, or technologies approved by the Secretary.","tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t7/s1924/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Eligibility"},{"t":"para","id":"/us/usc/t7/s1924/c/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"In general"},{"t":"content","children":[{"t":"p","text":"The Secretary may make or guarantee loans to farmers or ranchers in the United States, farm cooperatives, private domestic corporations, partnerships, joint operations, trusts, limited liability companies, or such other legal entities as the Secretary considers appropriate that are controlled by farmers or ranchers and engaged primarily and directly in agricultural production in the United States.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1924/c/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Requirements"},{"t":"content","children":[{"t":"p","text":"To be eligible for a loan under this section, applicants shall meet the requirements in subparagraphs (A) and (B) of ","children":[{"t":"ref","text":"section 1922(a)(1) of this title","href":"/us/usc/t7/s1922/a/1","tail":"."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t7/s1924/d","children":[{"t":"num","text":"(d)"},{"t":"heading","text":"Priority"},{"t":"chapeau","text":"In making or guaranteeing loans under this section, the Secretary shall give priority to\u2014"},{"t":"para","id":"/us/usc/t7/s1924/d/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" qualified beginning farmers or ranchers and socially disadvantaged farmers or ranchers;","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1924/d/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" owners or tenants who use the loans to convert to sustainable or organic agricultural production systems; and","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1924/d/3","children":[{"t":"num","text":"(3)"},{"t":"content","text":" producers who use the loans to build conservation structures or establish conservation practices to comply with ","children":[{"t":"ref","text":"section 3812 of title 16","href":"/us/usc/t16/s3812","tail":"."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t7/s1924/e","children":[{"t":"num","text":"(e)"},{"t":"heading","text":"Limitations applicable to loan guarantees"},{"t":"chapeau","text":"The portion of a loan that the Secretary may guarantee under this section shall be\u2014"},{"t":"para","id":"/us/usc/t7/s1924/e/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" 80 percent of the principal amount of the loan; or","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t7/s1924/e/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" in the case of a producer that is a qualified socially disadvantaged farmer or rancher or a beginning farmer or rancher, 90 percent of the principal amount of the loan.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t7/s1924/f","children":[{"t":"num","text":"(f)"},{"t":"heading","text":"Administrative provisions"},{"t":"content","children":[{"t":"p","text":"The Secretary shall ensure, to the maximum extent practicable, that loans made or guaranteed under this section are distributed across diverse geographic regions.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t7/s1924/g","children":[{"t":"num","text":"(g)"},{"t":"heading","text":"Credit eligibility"},{"t":"content","children":[{"t":"p","text":"The provisions of paragraphs (1) and (3) of ","children":[{"t":"ref","text":"section 1983 of this title","href":"/us/usc/t7/s1983","tail":" shall not apply to loans made or guaranteed under this section."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t7/s1924/h","children":[{"t":"num","text":"(h)"},{"t":"heading","text":"Authorization of appropriations"},{"t":"content","children":[{"t":"p","text":"There is authorized to be appropriated to the Secretary to carry out this section $150,000,000 for each of fiscal years 2014 through 2023.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}