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25 U.S.C. § 5142 — Reduction of unpaid principal
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Secretary of Agriculture may, on the application of the borrower of a loan or loans made under sections 5136 to 5143 of this title, reduce the unpaid principal balance of such loan or loans to the current fair market value of the land purchased with the proceeds of the loan or loans if—
(1) the fair market value of the land has declined by at least 25 percent since such land was purchased by the borrower;
(2) the land has been held by the borrower for a period of at least 5 years; and
(3) the Secretary of the Interior finds that the borrower has insufficient income to both repay the loan or loans and provide normal tribal governmental services.
**(b) Fair market value**
(1) **Appraisal** — Current fair market value under subsection (a) of this section shall be determined through an appraisal by an independent qualified fee appraiser, selected by mutual agreement between the borrower and the Secretary of Agriculture.
(2) **Costs** — The cost of appraisals undertaken under paragraph (1) shall be paid by the borrower.
**(c) Appeals** Decisions of the Secretary of Agriculture under this section shall be appealable in accordance with the provisions of section 333B 11 See References in Text note below. of the Consolidated Farm and Rural Development Act ([7 U.S.C. 1983b](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1983b&num=0&edition=prelim)).
**(d) Future applications** A borrower that had a loan or loans reduced under this section shall not submit an application for another reduction on such loan or loans for a period of 5 years after the initial reduction.
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Source file: Laws/federal/codes/united-states-code/title-25/section-5142-reduction-of-unpaid-principal--46a47aa63d.md
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Source location: Title 25, Chapter 45, § 5142; chapter-045-protection-of-indians-and-conservation-of-resources.md
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**(a) In general** The Secretary of Agriculture may, on the application of the borrower of a loan or loans made under sections 5136 to 5143 of this title, reduce the unpaid principal balance of such loan or loans to the current fair market value of the land purchased with the proceeds of the loan or loans if—
(1) the fair market value of the land has declined by at least 25 percent since such land was purchased by the borrower;
(2) the land has been held by the borrower for a period of at least 5 years; and
(3) the Secretary of the Interior finds that the borrower has insufficient income to both repay the loan or loans and provide normal tribal governmental services.
**(b) Fair market value**
(1) **Appraisal** — Current fair market value under subsection (a) of this section shall be determined through an appraisal by an independent qualified fee appraiser, selected by mutual agreement between the borrower and the Secretary of Agriculture.
(2) **Costs** — The cost of appraisals undertaken under paragraph (1) shall be paid by the borrower.
**(c) Appeals** Decisions of the Secretary of Agriculture under this section shall be appealable in accordance with the provisions of section 333B 11 See References in Text note below. of the Consolidated Farm and Rural Development Act ([7 U.S.C. 1983b](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1983b&num=0&edition=prelim)).
**(d) Future applications** A borrower that had a loan or loans reduced under this section shall not submit an application for another reduction on such loan or loans for a period of 5 years after the initial reduction.
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Federal law — U.S. Code and appendices · legal_authorities
There are authorized to be appropriated to carry out sections 5136 to 5143 of this title $8,000,000 for each of the fiscal years 1991 through 1995.
Source: Supplied U.S. Code snapshot — release unconfirmed · 25 U.S.C. § 5143
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Applications; time for action by Secretary; notice; statement of reasons**
(1) The Secretary shall approve or disapprove an application for a loan or loan guarantee made under this chapter, and notify the applicant of such action, not later than 60 days after the Secretary has received a complete application for such loan or loan guarantee.
(2)
(A) If an application for a loan or loan guarantee under this chapter (other than under subchapter II) is incomplete, the Secretary shall inform the applicant of the reasons such application is incomplete not later than 20 days after the Secretary has received such application.
(B)
(i) Not later than 10 calendar days after the Secretary receives an application for an operating loan or loan guarantee under subchapter II, the Secretary shall notify the applicant of any information required before a decision may be made on the application. On receipt of an application, the Secretary shall request from other parties such information as may be needed in connection with the application.
(ii) Not later than 15 calendar days after the date an agency of the Department of Agriculture receives a request for information made pursuant to clause (i), the agency shall provide the Secretary with the requested information.
(iii) If, not later than 20 calendar days after the date a request is made pursuant to clause (i) with respect to an application, the Secretary has not received the information requested, the Secretary shall notify the applicant and the district office of the Farmers Home Administration, in writing, of the outstanding information.
(iv) A county office shall notify the district office of the Farmers Home Administration of each application for an operating loan or loan guarantee under subchapter
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1983b
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
#### Codification
Section 493 was editorially reclassified as [section 5142 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title25-section5142&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 25 U.S.C. § 493
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Source** The Secretary shall provide the price support authorized or required herein through the Commodity Credit Corporation and other means available to him.
**(b) Authority of Secretary; factors considered** Except as otherwise provided in this Act, the amounts, terms, and conditions of price support operations and the extent to which such operations are carried out, shall be determined or approved by the Secretary. The following factors shall be taken into consideration in determining, in the case of any commodity for which price support is discretionary, whether a price-support operation shall be undertaken and the level of such support and, in the case of any commodity for which price support is mandatory, the level of support in excess of the minimum level prescribed for such commodity: (1) the supply of the commodity in relation to the demand therefor, (2) the price levels at which other commodities are being supported and, in the case of feed grains, the feed values of such grains in relation to corn, (3) the availability of funds, (4) the perishability of the commodity, (5) the importance of the commodity to agriculture and the national economy, (6) the ability to dispose of stocks acquired through a price-support operation, (7) the need for offsetting temporary losses of export markets, (8) the ability and willingness of producers to keep supplies in line with demand and (9), in the case of upland cotton, changes in the cost of producing such cotton.
**(c) Compliance by producer; program for diverted acres** Compliance by the producer with acreage allotments, production goals and marketing practices (including marketing quotas when authorized by law), prescribed by the Secretary, may be required as a condition of eligibility for price support. In admi
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1421
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Federal law — U.S. Code and appendices · legal_authorities
Page 705
TITLE 25—INDIANS
§ 5142
1 See References in Text note below.
§ 5139. Tribal rights and privileges in connection
with loans
A tribe or tribal corporation to which a loan is
made or insured pursuant to sections 5136 to 5143
of this title (1) may waive in writing any immu-
nity from suit or liability which it may possess,
(2) may mortgage or otherwise hypothecate
trust or restricted property if (a) authorized by
its constitution or charter or by a tribal ref-
erendum, and (b) approved by the Secretary of
the Interior, and (3) shall comply with rules and
regulations prescribed by the Secretary of Agri-
culture in connection with such loans.
(Pub. L. 91–229, § 3, Apr. 11, 1970, 84 Stat. 120.)
Editorial Notes
CODIFICATION
Section was formerly classified to section 490 of this
title prior to editorial reclassification and renumbering
as this section.
§ 5140. Mortgaged property governed by State
law
Trust or restricted tribal or tribal corporation
property mortgaged pursuant to sections 5136 to
5143 of this title shall be subject to foreclosure
and sale or conveyance in lieu of foreclosure,
free of such trust or restrictions, in accordance
with the laws of the State in which the property
is located.
(Pub. L. 91–229, § 4, Apr. 11, 1970, 84 Stat. 120.)
Editorial Notes
CODIFICATION
Section was formerly classified to section 491 of this
title prior to editorial reclassification and renumbering
as this section.
§ 5141. Interest rates and taxes
Loans made or insured pursuant to sections
5136 to 5143 of this title will be subject to the in-
terest rate provisions of section 307(a)(3)(B) of
the Consolidated Farmers Home Administration
Act of 1961, as amended [7 U.S.C. 1927(a)(3)(B)],
and to the provisions of subtitle D of that Act [7
U.S.C.
Source: Supplied 2024 U.S. Code historical extraction · 25 U.S.C. § 5142
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Federal law — U.S. Code and appendices · legal_authorities
Page 1134
TITLE 7—AGRICULTURE
§ 1983b
(ii) the form minimizes the documenta-
tion required to accompany the form;
(iii) the cost of completing and proc-
essing the form is minimal; and
(iv) the form can be completed and proc-
essed in an expeditious manner.
(h) Simplified application forms
Except as provided in subsection (g)(2), the
Secretary shall, to the maximum extent prac-
ticable, develop a simplified application process,
including a single page application if prac-
ticable, for grants and relending authorized
under sections 1926, 1926c, 1926d, 1926e, 1932(b),
1932(c), 1932(e), 1936b, 2008p, and 2008s of this
title.
(Pub. L. 87–128, title III, § 333A, as added Pub. L.
99–198, title XIII, § 1312(a), Dec. 23, 1985, 99 Stat.
1524; amended Pub. L. 101–624, title XVIII, § 1811,
title XXIII, § 2388(f), Nov. 28, 1990, 104 Stat. 3821,
4053; Pub. L. 102–554, §§ 13–15, Oct. 28, 1992, 106
Stat. 4152, 4153; Pub. L. 104–127, title VI, § 637,
Apr. 4, 1996, 110 Stat. 1093; Pub. L. 107–171, title
V, § 5307, title VI, § 6019, May 13, 2002, 116 Stat.
345, 362; Pub. L. 110–234, title VI, § 6012(b)(3), May
22, 2008, 122 Stat. 1165; Pub. L. 110–246, § 4(a), title
VI, § 6012(b)(3), June 18, 2008, 122 Stat. 1664, 1927;
Pub. L. 113–79, title VI, § 6020(a), Feb. 7, 2014, 128
Stat. 847; Pub. L. 115–334, title V, § 5401(c)(1),
title VI, § 6601(a)(2), Dec. 20, 2018, 132 Stat. 4674,
4776.)
Editorial Notes
REFERENCES IN TEXT
This chapter, referred to in subsecs. (a), (b)(1), (c),
(f)(1)(B), and (g)(1), was in the original ‘‘this title’’,
meaning title III of Pub. L. 87–128, Aug. 8, 1961, 75 Stat.
307, known as the Consolidated Farm and Rural Devel-
opment Act, which is classified principally to this
chapter. For complete classification of title III to the
Code,
Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 1983b
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