
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 7USC1970]

 
                          TITLE 7--AGRICULTURE
 
                     CHAPTER 50--AGRICULTURAL CREDIT
 
                     SUBCHAPTER III--EMERGENCY LOANS
 
Sec. 1970. Eligibility for assistance based on production loss

    The Secretary shall make financial assistance under this subchapter 
available to any applicant seeking assistance based on production losses 
if the applicant shows that a single enterprise which constitutes a 
basic part of the applicant's farming, ranching, or aquaculture 
operation has sustained at least a 30 per centum loss of normal per acre 
or per animal production, or such lesser per centum of loss as the 
Secretary may determine, as a result of the disaster based upon the 
average monthly price in effect for the previous year and the applicant 
otherwise meets the conditions of eligibility prescribed under this 
subtitle. Such loans shall be made available based upon 80 per centum, 
or such greater per centum as the Secretary may determine, of the total 
calculated actual production loss sustained by the applicant.

(Pub. L. 87-128, title III, Sec. 329, as added Pub. L. 94-68, Sec. 7, 
Aug. 5, 1975, 89 Stat. 382; amended Pub. L. 97-35, title I, Sec. 163, 
Aug. 13, 1981, 95 Stat. 378.)


                               Amendments

    1981--Pub. L. 97-35 increased specific per centum loss from 20 to 
30, and authorized a lesser per centum loss pursuant to determinations 
by the Secretary under applicable criteria.
