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42 U.S.C. § 8817 — Insured loans
Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority of Secretary of Agriculture; maximum amount per project** Subject to sections 8812 and 8817 of this title, the Secretary of Agriculture may commit to make, and make, insured loans in amounts not to exceed $1,000,000 per project for the construction of small-scale biomass energy projects.
**(b) Estimated project construction costs as determinative of initial and revised amount of loan; interest rate**
(1) Any insured loan under this section—
(A) may not exceed 90 per centum of the total estimated cost of construction of the biomass energy project involved, and
(B) shall bear interest at rates determined by the Secretary of Agriculture, taking into consideration the current average market yield on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the average maturities of such loans, plus not to exceed one per centum, as determined by the Secretary of Agriculture, and adjusted to the nearest one-eighth of one per centum.
(2) In the event the total estimated costs of construction of the project thereafter exceed the total estimated costs initially determined by the Secretary of Agriculture, the Secretary may in addition, upon application therefor, make an insured loan for so much of the additional estimated total costs as does not exceed 10 per centum of the total costs initially estimated.
**(c) Funding requirements; “insured loan” defined**
(1) The Secretary of Agriculture shall make insured loans under this section using, to the extent provided in advance in appropriations Acts, the Agricultural Credit Insurance Fund in section 309 of the Consolidated Farm and Rural Development Act [[7 U.S.C. 1929](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1929&num=0&editio
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Source location: Title 42, Chapter 96, § 8817; chapter-096-biomass-energy-and-alcohol-fuels.md
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**(a) Authority of Secretary of Agriculture; maximum amount per project** Subject to sections 8812 and 8817 of this title, the Secretary of Agriculture may commit to make, and make, insured loans in amounts not to exceed $1,000,000 per project for the construction of small-scale biomass energy projects.
**(b) Estimated project construction costs as determinative of initial and revised amount of loan; interest rate**
(1) Any insured loan under this section—
(A) may not exceed 90 per centum of the total estimated cost of construction of the biomass energy project involved, and
(B) shall bear interest at rates determined by the Secretary of Agriculture, taking into consideration the current average market yield on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the average maturities of such loans, plus not to exceed one per centum, as determined by the Secretary of Agriculture, and adjusted to the nearest one-eighth of one per centum.
(2) In the event the total estimated costs of construction of the project thereafter exceed the total estimated costs initially determined by the Secretary of Agriculture, the Secretary may in addition, upon application therefor, make an insured loan for so much of the additional estimated total costs as does not exceed 10 per centum of the total costs initially estimated.
**(c) Funding requirements; “insured loan” defined**
(1) The Secretary of Agriculture shall make insured loans under this section using, to the extent provided in advance in appropriations Acts, the Agricultural Credit Insurance Fund in section 309 of the Consolidated Farm and Rural Development Act [[7 U.S.C. 1929](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1929&num=0&edition=prelim)] or the Rural Development Insurance Fund in section 309A of such Act [[7 U.S.C. 1929a](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1929a&num=0&edition=prelim)] (hereinafter in this section referred to as the “Funds”). The Secretary of Agriculture may not use an aggregate amount of funds to make or commit to make insured loans under this section in excess of the aggregate amount for insured loans and administrative costs appropriated and transferred under [section 8803 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section8803&num=0&edition=prelim). The terms, conditions, and requirements applicable to such insured loans shall be in accordance with this subchapter.
(2) There shall be reimbursed to the Funds, from appropriations made under [section 8803 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section8803&num=0&edition=prelim), amounts equal to the operating and administrative costs incurred by the Secretary of Agriculture in insuring loans under this section.
(3) Notwithstanding any provision of the Consolidated Farm and Rural Development Act [[7 U.S.C. 1921](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1921&num=0&edition=prelim) et seq.], no funds made available to the Secretary of Agriculture under this section for insured loans shall be used for any other purpose.
(4) For purposes of this section, the term “insured loan” means a loan which is made, sold, and insured.
**(d) Preconditions** An insured loan may not be made under this section unless the applicant for such loan has established to the satisfaction of the Secretary that the applicant is unable without such a loan to obtain sufficient credit elsewhere at reasonable rates and terms, taking into consideration prevailing private and cooperative rates and terms for loans for similar purposes and periods of time, to finance the construction of the biomass energy project for which such loan is sought.
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section 2009ee, Pub. L. 107–171, title VI, § 6301, May 13, 2002, 116 Stat. 421, defined terms.
Section 2009ee–1, Pub. L. 107–171, title VI, § 6302, May 13, 2002, 116 Stat. 422, related to SEARCH grant program. See [section 1926 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1926&num=0&edition=prelim).
Section 2009ee–2, Pub. L. 107–171, title VI, § 6303, May 13, 2002, 116 Stat. 424, related to annual report on projects.
Section 2009ee–3, Pub. L. 107–171, title VI, § 6304, May 13, 2002, 116 Stat. 424, related to funding.
#### Codification
Pub. L. 110–234 and Pub. L. 110–246 repealed this subchapter. Pub. L. 110–234 was repealed by section 4(a) of Pub. L. 110–246.
#### Effective Date of Repeal
Repeal of this subchapter and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective May 22, 2008, the date of enactment of Pub. L. 110–234, see section 4 of Pub. L. 110–246, set out as an Effective Date note under [section 8701 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section8701&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** A contract of insurance or guarantee executed by the Secretary under this chapter shall be an obligation supported by the full faith and credit of the United States.
**(b) Contestability** A contract of insurance or guarantee executed by the Secretary under this chapter shall be incontestable except for fraud or misrepresentation that the lender or any holder—
(1) has actual knowledge of at the time the contract or guarantee is executed; or
(2) participates in or condones.
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Federal law — U.S. Code and appendices · legal_authorities
It is the intent of the Congress that the Secretary of Agriculture shall process applications for leases of National Forest System lands and for permits to explore, drill, and develop resources on land leased from the Forest Service, notwithstanding the current status of any plan being prepared under [section 1604 of title 16](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section1604&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
On and after October 28, 1991, no funds in this Act or any other Act shall be available to carry out loan programs under the Agricultural Credit Insurance Fund at levels other than those provided for in advance in appropriations Acts.
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Federal law — U.S. Code and appendices · legal_authorities
Page 7655
TITLE 42—THE PUBLIC HEALTH AND WELFARE
§ 8817
the sales price set forth in the price guarantee,
and maximum liability under such guarantee,
may be renegotiated.
(Pub. L. 96–294, title II, § 215, June 30, 1980, 94
Stat. 692.)
Editorial Notes
REFERENCES IN TEXT
This chapter, referred to in subsec. (d)(2), was in the
original ‘‘this title’’, meaning title II of Pub. L. 96–294,
June 30, 1980, 94 Stat. 683, known as the Biomass Energy
and Alcohol Fuels Act of 1980, which is classified prin-
cipally to this chapter. For complete classification of
title II to the Code, see Short Title note set out under
section 8801 of this title and Tables.
§ 8816. Purchase agreements
(a) Authority of Secretary concerned; consult-
ative requirements
Subject to sections 8812 and 8817 of this title,
the Secretary concerned may commit to make,
and make, purchase agreements for all or part of
the biomass energy production of any biomass
energy project, if the Secretary determines—
(1) that such biomass energy is of a type,
quantity, and quality that can be used by Fed-
eral agencies; and
(2) that the quantity of such biomass energy,
if delivery is accepted, would not exceed the
likely needs of Federal agencies.
Each Secretary concerned shall consult with the
other Secretary before making any determina-
tion under paragraph (2).
(b) Maximum sales price
The sales price specified in a purchase agree-
ment under this section may not exceed the es-
timated prevailing market price as of the date
of delivery, as determined by the Secretary of
Energy, unless the Secretary concerned deter-
mines that such sales price must exceed the es-
timated prevailing market price in order to en-
sure the production of biomass energy to
achieve the purposes of this chapter.
(c) A
Source: Supplied 2024 U.S. Code historical extraction · 42 U.S.C. § 8817
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Federal law — U.S. Code and appendices · legal_authorities
Page 1056
TITLE 7—AGRICULTURE
§ 1921
Sec.
2008u.
Health care services.
2008v.
Strategic economic and community develop-
ment.
2008w.
Rural Innovation Stronger Economy Grant
Program.
2008x.
Reporting.
SUBCHAPTER V—RURAL COMMUNITY
ADVANCEMENT PROGRAM
2009.
Definitions.
2009a.
Establishment.
2009b.
National objectives.
2009c.
Strategic plans.
2009d.
Rural Development Trust Fund.
2009e.
Transfers of funds.
2009f.
Grants to States.
2009g.
Guarantee and commitment to guarantee
loans.
2009h.
Local involvement.
2009i.
Interstate collaboration.
2009j.
Annual report.
2009k.
Rural
development
interagency
working
group.
2009l.
Duties of Rural Economic and Community
Development State Offices.
2009m.
Electronic transfer.
2009n.
Repealed.
SUBCHAPTER VI—DELTA REGIONAL AUTHORITY
2009aa.
Definitions.
2009aa–1. Delta Regional Authority.
2009aa–2. Economic
and
community
development
grants.
2009aa–3. Supplements to Federal grant programs.
2009aa–4. Local development districts; certification and
administrative expenses.
2009aa–5. Distressed counties and areas and nondis-
tressed counties.
2009aa–6. Development planning process.
2009aa–7. Program development criteria.
2009aa–8. Approval of development plans and projects.
2009aa–9. Consent of States.
2009aa–10. Records.
2009aa–11. Annual report.
2009aa–12. Authorization of appropriations.
2009aa–13. Repealed.
SUBCHAPTER VII—NORTHERN GREAT PLAINS
REGIONAL AUTHORITY
2009bb.
Definitions.
2009bb–1. Northern Great Plains Regional Authority.
2009bb–1a. Interstate cooperation for economic oppor-
tunity and efficiency.
2009bb–2. Economic
and
community
development
grants.
2009bb–3. Supplements to Federal grant programs.
2009bb–4. Multistate and local development districts
Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 1921
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Federal law — U.S. Code and appendices · legal_authorities
Page 1082
TITLE 7—AGRICULTURE
§ 1927a
§ 1927a. Loan interest rates charged by Farmers
Home Administration; grant funds associated
with loans
Effective October 1, 1981, and thereafter, in the
case of water and waste disposal and community
facility borrowers, and effective November 12,
1983, and thereafter, in the case of housing and
farm borrowers, upon request of the borrower,
the interest rate charged by the Farmers Home
Administration to such borrowers shall be the
lower of the rates in effect at either the time of
loan approval or loan closing and any Farmers
Home Administration grant funds associated
with such loans shall be set in amount based on
the interest rate in effect at the time of loan ap-
proval.
(Pub. L. 99–88, title I, § 100, Aug. 15, 1985, 99 Stat.
296; Pub. L. 100–233, title VI, § 615(b)(1)(A), Jan. 6,
1988, 101 Stat. 1681.)
Editorial Notes
CODIFICATION
Section was enacted as part of the Supplemental Ap-
propriations Act, 1985, and not as part of the Consoli-
dated Farm and Rural Development Act which com-
prises this chapter.
AMENDMENTS
1988—Pub. L. 100–233 substituted ‘‘Effective October 1,
1981, and thereafter, in the case of water and waste dis-
posal and community facility borrowers, and effective
November 12, 1983, and thereafter, in the case of hous-
ing and farm borrowers’’ for ‘‘Effective November 12,
1983, and thereafter’’ and ‘‘to such borrowers’’ for ‘‘to
housing, farm, water and waste disposal, and commu-
nity facility borrowers’’.
Statutory Notes and Related Subsidiaries
APPLICABILITY OF 1988 AMENDMENT
Pub. L. 100–233, title VI, § 615(b)(1)(B), Jan. 6, 1988, 101
Stat. 1682, provided that: ‘‘The amendment made by
subparagraph (A) [amending this section] shall not
apply to any note or other obligation sold und
Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 1929
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Federal law — U.S. Code and appendices · legal_authorities
Page 1086
TITLE 7—AGRICULTURE
§ 1929–1
‘‘(E) The National Institute of Food and Agri-
culture.
‘‘(F) Community colleges or other educational in-
stitutions with demonstrated experience in training
beginning farmers or ranchers.
‘‘(G) Other entities or persons providing lending or
technical assistance for qualified beginning farmers
or ranchers.’’
LIMITATION ON SALES FROM AGRICULTURAL CREDIT
INSURANCE FUND
Pub. L. 99–509, title I, § 1002, Oct. 21, 1986, 100 Stat.
1875, provided that: ‘‘During fiscal years 1987 through
1989, no note shall be sold out of the Agricultural Cred-
it Insurance Fund, except in connection with trans-
actions with the Secretary of the Treasury, without
prior approval by Congress.’’
LOANS TO INDIANS
Authority of the Secretary of Agriculture to make
loans to Indian tribes and tribal corporations to ac-
quire land within reservations, see sections 5136 to 5143
of Title 25, Indians.
§ 1929–1. Level of loan programs under Agricul-
tural Credit Insurance Fund
On and after October 28, 1991, no funds in this
Act or any other Act shall be available to carry
out loan programs under the Agricultural Credit
Insurance Fund at levels other than those pro-
vided for in advance in appropriations Acts.
(Pub. L. 102–142, title III, Oct. 28, 1991, 105 Stat.
899.)
Editorial Notes
CODIFICATION
Section was enacted as part of the Agriculture, Rural
Development, Food and Drug Administration, and Re-
lated Agencies Appropriations Act, 1992, and not as
part of the Consolidated Farm and Rural Development
Act which comprises this chapter.
§ 1929a. Rural Development Insurance Fund
(a) Creation; revolving fund; rural development
loans
There is hereby created the Rural Develop-
ment Insurance Fund (hereinafter in this sec-
tion referred to as the ‘
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