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USDA/FSA | RIN: 0560-AI04 | Publication ID: Fall 2008 |
Title: ●Conservation Loan Guarantee Program | |
Abstract: The proposed rule will implement the provisions of the 2008 Farm Bill that affect Farm Loan Programs (FLP) Loan Making Division (LMD); there is discretion in how several of the provisions are implemented. The section being implemented is 5002, Conservation Loan and Loan Guarantee. Implementation of this provision will create a new direct and guaranteed loan program direct at assisting farmers in implementing conservation practices. The rule establishes a new loan and loan guarantee program to finance qualifying conservation projects. All guarantees will be at 75 percent of the loan amount. The applicant must have an acceptable conservation plan that includes the project(s) to be financed. Preference is given to beginning farmer and socially disadvantaged applicants, conversion to sustainable or organic production practices, and compliance with highly erodible land conservation requirements. Eligibility for the program is not restricted to those who cannot get credit elsewhere. The program is not mandatory; appropriations are authorized. | |
Agency: Department of Agriculture(USDA) | Priority: Substantive, Nonsignificant |
RIN Status: First time published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 7 CFR 762 | |
Legal Authority: PL 110-246 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Yes | Government Levels Affected: None |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: Yes | |
Agency Contact: Deirdre Holder Branch Chief, Regulatory Analysis and PRA Requirements Branch Department of Agriculture Farm Production and Conservation Business Center, 1400 Independence Avenue SW, Washington, DC 20250-0572 Phone:202 205-5851 Email: deirdre.holder@usda.gov |