Federal Register - August 9, 2021
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Source: Federal Register
Federal Register / Vol. 86, No. 150 / Monday, August 9, 2021 / Rules and Regulations Subpart DAllocation of Farm Loan Programs Funds to State Offices
Subpart CProgression Lending 6. Revise the subpart C heading to read as set forth above.
761.211
7. Amend 761.103:
a. In paragraph a3, by removing the words plan of supervision and adding the words progressive lending plan in their place;
b. In paragraphs b8 and c5, by removing the word Supervisory and adding the words Progression lending in its place; and c. By revising paragraph e.
The revision reads as follows:
761.103
Farm assessment.
e The Agency reviews the assessment to determine a borrowers progress at least annually, combining any required classification and graduation reviews as part of the review.
For streamlined CLs, the borrower must provide a current balance sheet and income tax records. Any negative trends noted between the previous years and the current years information must be evaluated and addressed in the assessment of the streamlined CL
borrower.
8. Amend 761.104 by revising paragraph c4i to read as follows:
761.104
plan.
Developing the farm operating
c
4
i Use county average yields, or state average yields if county average yields are not available, in place of the disaster year yields when the county or state average yields are realistic and reasonable compared to the applicants actual non-disaster year yields, as determined by the agency approval official; or
10. Amend 761.211 in paragraph a by removing the word Downpayment and adding the words Down payment in its place.
Subpart FFarm Loan Programs Debt Settlement 761.405
Amended
11. Amend 761.405 in paragraph a6 by removing the words greater than $1,000 and adding the words exceeding an amount determined by the Agency in their place.
PART 762GUARANTEED FARM
LOANS
12. The authority citation for part 762
continues to read as follows:
762.110
Amended
13. Amend 762.110 in paragraph d2 by removing over $1,000 and adding exceeding an amount determined by the Agency in its place.
Amended
14. Amend 762.120:
a. In paragraph i2iii, by removing the words a majority interest must and adding at least 50 percent interest must in their place; and b. In paragraph j2iii, by removing the words a majority interest must operate the family farm and the entity members holding a majority interest and adding at least 50 percent interest must operate the family farm and the entity members holding at least 50
percent in their place.
762.121
Amended
9. Amend 761.105 by revising paragraphs a1 and 4 to read as follows:
761.105
762.123
Year-end analysis.
a
1 Is being considered for a new direct loan or subordination;
4 Is receiving a limited resource interest rate on any loan, in which case the review will be completed at least every 2 years.
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18. Amend 762.129 in paragraph b1ii by removing the word downpayment and adding down payment in its place.
762.130
Amended
19. Amend 762.130 in paragraph d4iiiC by removing the word Downpayment and adding the words Down Payment in its place.
762.145
Amended
20. Amend 762.145 in paragraph b2iv by removing the words of $1000 or more and adding the words exceeding an amount determined by the Agency. in their place.
PART 764DIRECT LOAN MAKING
21. The authority citation for part 764
continues to read as follows:
Authority: 5 U.S.C. 301 and 7 U.S.C. 1989.
Subpart BLoan Application Process
762.120
Amended
Authority: 5 U.S.C. 301 and 7 U.S.C. 1989.
15. Amend 762.121:
a. In paragraph a1ix, by adding the words or non-compliance after the word compliance in the second sentence; and b. In paragraph b1, by removing the word downpayment and adding the words down payment in its place.
lotter on DSK11XQN23PROD with RULES1
Amended
762.129
43391
Amended
764.52
Amended
22. Amend 764.52:
a. In paragraph a, by removing the number 10 and adding 7 calendar in its place and by removing the number 20 and adding the number 15 in its place; and b. In paragraph b, by removing the number 10 and add the number 15
in its place.
764.54
Amended
23. Amend 764.54 in paragraph b2ii by removing the word downpayment and adding the words down payment in its place.
Subpart CRequirements for All Direct Program Loans 764.101
Amended
24. Amend 764.101 in paragraph k2ii by removing the words a majority and adding at least 50
percent in their place.
764.103
Amended
25. Amend 764.103 in paragraph e by removing $5,000 and adding $15,000 in its place.
16. Amend 762.123 in paragraph a2i by removing part 402 and adding 400.651 in its place.
Subpart DFarm Ownership Loan Program
762.127
764.152
Amended
17. Amend 762.127 in paragraphs c2 introductory text and c3 by removing the number 12 and adding the number 18 in its place each time it appears.
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Amended
26. Amend 764.152 in paragraph c3ii by removing the words a majority and adding at least 50
percent in their place each time they appear.
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