7 U.S.C. § 1984 — Taxation

Page 1137 TITLE 7—AGRICULTURE § 1984 (ii) information about the demonstration program, including the eligible partici- pants and the individual development ac- counts that have been established; and (iii) such other information as the Sec- retary may require. (B) Submission of reports A qualified entity shall submit each report required under subparagraph (A) to the Sec- retary. (2) Reports by the Secretary Not later than 1 year after the date on which all demonstration programs under this section are concluded, the Secretary shall submit to Congress a final report that describes the re- sults and findings of all reports and evalua- tions carried out under this section. (f) Annual review The Secretary may conduct an annual review of the financial records of a qualified entity— (1) to assess the financial soundness of the qualified entity; and (2) to determine the use of grant funds made available to the qualified entity under this section. (g) Regulations In carrying out this section, the Secretary may promulgate regulations to ensure that the program includes provisions for— (1) the termination of demonstration pro- grams; (2) control of the reserve funds in the case of such a termination; (3) transfer of demonstration programs to other qualified entities; and (4) remissions from a reserve fund to the Secretary in a case in which a demonstration program is terminated without transfer to a new qualified entity. (h) Authorization of appropriations There is authorized to be appropriated to carry out this section $5,000,000 for each of fiscal years 2008 through 2023. (Pub. L. 87–128, title III, § 333B, as added Pub. L. 110–234, title V, § 5301, May 22, 2008, 122 Stat. 1147, and Pub. L. 110–246, § 4(a), title V, § 5301, June 18, 2008, 122 Stat. 1664, 1908; amended Pub. L. 113–79, title V, § 5301, Feb. 7, 2014, 128 Stat. 839; Pub. L. 115–334, title V, § 5301, Dec. 20, 2018, 132 Stat. 4671.) Editorial Notes REFERENCES IN TEXT The date of enactment of this section, referred to in subsec. (c)(4), is the date of enactment of Pub. L. 110–246, which was approved June 18, 2008. CODIFICATION Pub. L. 110–234 and Pub. L. 110–246 enacted identical sections. Pub. L. 110–234 was repealed by section 4(a) of Pub. L. 110–246. PRIOR PROVISIONS A prior section 1983b, Pub. L. 87–128, title III, § 333B, as added Pub. L. 99–198, title XIII, § 1313(a), Dec. 23, 1985, 99 Stat. 1525; amended Pub. L. 100–233, title VI, § 608, Jan. 6, 1988, 101 Stat. 1667; Pub. L. 101–624, title XVIII, § 1812, Nov. 28, 1990, 104 Stat. 3821, related to appeals from adverse decisions under the Consolidated Farm and Rural Development Act, prior to repeal by Pub. L. 103–354, title II, § 281(c), Oct. 13, 1994, 108 Stat. 3233. See section 6991 et seq. of this title. AMENDMENTS 2018—Subsec. (h). Pub. L. 115–334 substituted ‘‘2023’’ for ‘‘2018’’. 2014—Subsec. (h). Pub. L. 113–79 substituted ‘‘2018’’ for ‘‘2012’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE Enactment of this section 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 a note under section 8701 of this title. § 1983c. Provision of information to borrowers (a) In general On request of a farm borrower of a farmer pro- gram loan, the Secretary shall make available to the borrower the following: (1) One copy of each document signed by the borrower. (2) One copy of each appraisal performed with respect to the loan. (3) All documents that the Secretary other- wise is required to provide to the borrower under any law or rule of law in effect on the date of such request. (b) Construction of section Subsection (a) shall not be construed to super- sede any duty imposed on the Secretary by any law or rule of law in effect immediately before January 6, 1988, unless such duty is in direct conflict with any duty imposed by subsection (a). (Pub. L. 87–128, title III, § 333C, as added Pub. L. 100–233, title VI, § 609, Jan. 6, 1988, 101 Stat. 1668.) § 1983d. Farmer loan pilot projects (a) In general The Secretary may conduct pilot projects of limited scope and duration that are consistent with subchapter I through this subchapter to evaluate processes and techniques that may im- prove the efficiency and effectiveness of the pro- grams carried out under subchapter I through this subchapter. (b) Notification The Secretary shall— (1) not less than 60 days before the date on which the Secretary initiates a pilot project under subsection (a), submit notice of the pro- posed pilot project to the Committee on Agri- culture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate; and (2) consider any recommendations or feed- back provided to the Secretary in response to the notice provided under paragraph (1). (Pub. L. 87–128, title III, § 333D, as added Pub. L. 113–79, title V, § 5302, Feb. 7, 2014, 128 Stat. 839.) § 1984. Taxation All property subject to a lien held by the United States or the title to which is acquired Page 1138 TITLE 7—AGRICULTURE § 1985 or held by the Secretary under this chapter other than property used for administrative pur- poses shall be subject to taxation by State, ter- ritory, district, and local political subdivisions in the same manner and to the same extent as other property is taxed: Provided, however, That no tax shall be imposed or collected on or with respect to any instrument if the tax is based on— (1) the value of any notes or mortgages or other lien instruments held by or transferred to the Secretary; (2) any notes or lien instruments adminis- tered under this chapter which are made, as- signed, or held by a person otherwise liable for such tax; or (3) the value of any property conveyed or transferred to the Secretary, whether as a tax on the instrument, the privi- lege of conveying or transferring or the recorda- tion thereof; nor shall the failure to pay or col- lect any such tax be a ground for refusal to record or file such instruments, or for failure to impart notice, or prevent the enforcement of its provisions in any State or Federal court. (Pub. L. 87–128, title III, § 334, Aug. 8, 1961, 75 Stat. 315.) Editorial Notes REFERENCES IN TEXT This chapter, referred to in text, 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 Development Act, which is classified principally to this chapter. For complete classification of title III to the Code, see Short Title note set out under section 1921 of this title and Tables. § 1985. Security servicing (a) Preservation and protection of security, lien, or priority of lien securing loan The Secretary is authorized and empowered to make advances, without regard to any loan or total indebtedness limitation, to preserve and protect the security for or the lien or priority of the lien securing any loan or other indebtedness owing to, insured by, or acquired by the Sec- retary under this chapter or under any other programs administered by the Farmers Home Administration or the Rural Development Ad- ministration; to bid for and purchase at any exe- cution, foreclosure, or other sale or otherwise to acquire property upon which the United States has a lien by reason of a judgment or execution arising from, or which is pledged, mortgaged, conveyed, attached, or levied upon to secure the payment of, any such indebtedness whether or not such property is subject to other liens, to accept title to any property so purchased or ac- quired; and to sell, manage, or otherwise dispose of such property as hereinafter provided. (b) Operation or lease of realty Except as provided in subsections (c) and (e), real property administered under the provisions of this chapter may be operated or leased by the Secretary for such period or periods as the Sec- retary may deem necessary to protect the Gov- ernment’s investment therein. (c) Sale of property (1) In general Subject to this subsection and subsection (e)(1)(A), the Secretary shall offer to sell real property that is acquired by the Secretary under this chapter using the following order and method of sale: (A) Advertisement Not later than 15 days after acquiring real property, the Secretary shall publicly adver- tise the property for sale. (B) Beginning farmer or rancher; socially dis- advantaged farmer or rancher (i) In general Not later than 135 days after acquiring real property, the Secretary shall offer to sell the property to a qualified beginning farmer or rancher or a socially disadvan- taged farmer or rancher at current market value based on a current appraisal. (ii) Random selection If more than 1 qualified beginning farm- er or rancher or socially disadvantaged farmer or rancher offers to purchase the property, the Secretary shall select be- tween the qualified applicants on a ran- dom basis. (iii) Appeal of random selection A random selection or denial by the Sec- retary of a beginning farmer or rancher or a socially disadvantaged farmer or rancher for farm inventory property under this subparagraph shall be final and not admin- istratively appealable. (iv) Combining and dividing of property To the maximum extent practicable, the Secretary shall maximize the opportunity for beginning farmers or ranchers and so- cially disadvantaged farmers or ranchers to purchase real property acquired by the Secretary under this chapter by combining or dividing inventory parcels of the prop- erty in such manner as the Secretary de- termines to be appropriate. (C) Public sale If no acceptable offer is received from a qualified beginning farmer or rancher or a socially disadvantaged farmer or rancher under subparagraph (B) not later than 135 days after acquiring the real property, the Secretary shall, not later than 30 days after the 135-day period, sell the property after public notice at a public sale, and, if no ac- ceptable bid is received, by negotiated sale, at the best price obtainable. (2) Previous lease In the case of real property acquired before April 4, 1996, that the Secretary leased before April 4, 1996, not later than 60 days after the lease expires, the Secretary shall offer to sell the property in accordance with paragraph (1). (3) Interest (A) In general Subject to subparagraph (B), any convey- ance of real property under this subsection