farm-program · Farm Service Agency · Rule · Published 2014-10-08 · Effective 2014-11-07 · 79 FR 60739
Document
Document number
2014-24046
Federal Register citation
79 FR 60739
CFR reference
7 CFR 761
Type
Rule
Action
Interim final rule.
Category
farm-program
Sub-agency
Farm Service Agency
Publication date
2014-10-08
Effective date
2014-11-07
Abstract
The Farm Service Agency (FSA) is amending the Farm Loan Programs (FLP) regulations for loan making and servicing on eligibility conditions for certain legal entities, allowing additional flexibility for loan applicants to meet the required farming experience, and increasing the maximum total indebtedness on Microloans (ML) to $50,000. The changes implement provisions of the Agricultural Act of 2014 (2014 Farm Bill). The changes will help increase the number of entities eligible to participate in certain FLP loans and adjust to better reflect the changes in the way farms are owned and operated by legal entities. The changes will allow FSA to extend credit and servicing to family farm operations that may have been ineligible under existing regulations.