7 U.S.C. § 1924
Section 1924 · Conservation loan and loan guarantee program
Current version, with additions and removals from the December 13, 1991 version.
(1) Loans may also be made or insured under this subchapter for soil and water conservation and protection. Such loans may be made to farm owners or tenants who are eligible borrowers under this subchapter for—
(A) the installation of conservation structures, including terraces, sod waterways, permanently vegetated stream borders and filter strips, windbreaks (tree or grass), shelterbelts, and living snow fences;
The Secretary may make or guarantee qualified conservation loans to eligible borrowers under this section.
In this section:
(1) Qualified conservation loan
The term "qualified conservation loan" means a loan, the proceeds of which are used to cover the costs to the borrower of carrying out a qualified conservation project.
(2) Qualified conservation project
The term "qualified conservation project" means conservation measures that address provisions of a conservation plan of the eligible borrower.
(3) Conservation plan
The term "conservation plan" means a plan, approved by the Secretary, that, for a farming or ranching operation, identifies the conservation activities that will be addressed with loan funds provided under this section, including—
(A) the installation of conservation structures to address soil, water, and related resources;
(C) the installation of water conservation measures;
(D) the installation of waste management systems;
(D) the conversion to and maintenance of sustainable agricultural production systems, as described by Department technical guides and handbooks;
(F) other purposes consistent with plans for soil and water conservation, integrated farm management, water quality protection and enhancement, and wildlife habitat improvement.
(G) other purposes consistent with the plan, including the adoption of any other emerging or existing conservation practices, techniques, or technologies approved by the Secretary.
(1) In general
The Secretary may make or guarantee loans to farmers or ranchers in the United States, farm cooperatives, private domestic corporations, partnerships, joint operations, trusts, limited liability companies, or such other legal entities as the Secretary considers appropriate that are controlled by farmers or ranchers and engaged primarily and directly in agricultural production in the United States.
(2) Requirements
To be eligible for a loan under this section, applicants shall meet the requirements in subparagraphs (A) and (B) of section 1922(a)(1) of this title.
(1) qualified beginning farmers or ranchers and socially disadvantaged farmers or ranchers;
(2) owners or tenants who use the loans to convert to sustainable or organic agricultural production systems; and
(3) producers who use the loans to build conservation structures or establish conservation practices to comply with section 3812 of title 16.
(A) the value of the farm or other security for such loan; or
(B) $50,000.
Loans may also be made or insured under this subchapter to residents of rural areas without regard to the requirements of clauses (2) and (3) of section 1922 of this title to acquire or establish in rural areas small business enterprises to provide such residents with essential income.
Loans may also be made or insured under this subchapter to any farm owners or tenants without regard to the requirements of clauses (1), (2), and (3) of section 1922 of this title for the purposes of meeting Federal, State, or local requirements for agricultural, animal, or poultry waste pollution abatement and control facilities, including the construction, modification, or relocation of farm or other structures necessary to comply with such pollution abatement requirements.
(1) 80 percent of the principal amount of the loan; or
(2) in the case of a producer that is a qualified socially disadvantaged farmer or rancher or a beginning farmer or rancher, 90 percent of the principal amount of the loan.
The Secretary shall ensure, to the maximum extent practicable, that loans made or guaranteed under this section are distributed across diverse geographic regions.
The provisions of paragraphs (1) and (3) of section 1983 of this title shall not apply to loans made or guaranteed under this section.
There is authorized to be appropriated to the Secretary to carry out this section $150,000,000 for each of fiscal years 2014 through 2023.