7-U.S.C.-1927A
§1927A – Loan Interest Rates Charged By Farmers Home Administration; Grant Funds Associated With Loans
Pathway
Title 7 > Chapter 50 > Subchapter I > Section 1927a
Details
- Reference: Section 1927a
- Legend: §1927A – Loan Interest Rates Charged By Farmers Home Administration; Grant Funds Associated With Loans
- USCode Year: 2013
Provision Content
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 approval.
(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.)
Codification
Section was enacted as part of the Supplemental Appropriations Act, 1985, and not as part of the Consolidated Farm and Rural Development Act which comprises this chapter.
Amendments
1988—Pub. L. 100–233 substituted 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” for Effective November 12, 1983, and thereafter” and to such borrowers” for to housing, farm, water and waste disposal, and community facility borrowers”.
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 under section 1001 of the Omnibus [Budget] Reconciliation Act of 1986 [Pub. L. 99–509, 7 U.S.C. 1929a note] on or before the date of the enactment of this paragraph [Jan. 6, 1988].”
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