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USDA/FSA

RIN: 0560-AG81

Publication ID: Fall 2002

Title: ●2002 Farm Bill Regulations--Loan Eligibility With Prior Debt Forgiveness
Abstract: This action will seek to clarify language needed to implement the 2002 Farm Bill provisions relating to borrowers who received debt forgiveness and a change in the eligibility requirements for direct farm ownership loans: (1) The legislation provides that borrowers who received debt forgiveness may also be eligible for new direct or guaranteed operating loans if forgiveness resulted from a declared major emergency or natural disaster. However, besides areas designated as natural disasters, low-interest emergency loans are also available in areas under plant or animal quarantines. This rule will obtain public comments on the types of emergencies or natural disasters to be considered eligible. (2) The legislation changes an eligibility requirement for direct farm ownership loans from persons who "operated" a farm to persons who "participated in the operation of" a farm. This rule will obtain public comments on the meaning of the new term. The expected cost is minimal.
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 1941
Legal Authority: PL 107-171

Legal Deadline: None

Timetable:

Action	Date	FR Cite
NPRM	12/00/2002
Final Action	06/00/2003

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Small Entities Affected: No	Federalism: No
Included in the Regulatory Plan: No
Agency Contact: Tom Witzig Director, Regulatory Review Group Department of Agriculture Farm Service Agency Room 0339 South Building, MS 0572, 1400 Independence Avenue SW, Washington, DC 20250-0572 Phone:202 205-5851 Fax:202 720-5233 Email: tom.witzig@usda.gov