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USDA/FSA RIN: 0560-AI29 Publication ID: Fall 2014 
Title: ●Farm Loan Programs Changes 
Abstract:

The rule implements regulatory changes required by the Agricultural Act of 2014 (2014 Farm Bill) to change certain program requirements in the Farm Loan Programs (FLP) regulations. The changes: 

  • increase percent of guarantees on Conservation Loans (CL),
  • reduce interest rates for direct Farm Ownership (FO) loans made under a joint financing arrangement,
  • increase the loan limit for direct FO loans made under the Down Payment Program,
  • remove the rural residency requirements for Youth Loan (YL) applicants,
  • allow a borrower who had debt forgiveness on YL to receive future Federal loans under certain conditions,
  • revise Microloans (ML) for beginning and veteran farms to exclude them from the existing direct Operating Loan (OL) term limitations,
  • make a special ML interest rate available to beginning and veteran farmers,
  • eliminate certain appraisal requirements,
  • remove term limits on guaranteed OLs, and 
  • change the term from "median" to "average" in the definition of a beginning farmer.
 
Agency: Department of Agriculture(USDA)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 7 CFR 761    7 CFR 762    7 CFR 764    7 CFR 765   
Legal Authority: 7 USC 1924    7 USC 1927    7 USC 1935    7 USC 1941 to 1943    7 USC 1946    7 USC 1949    7 USC 1991   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Final Rule  12/00/2014 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
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