Page:United States Statutes at Large Volume 105 Part 1.djvu/125

This page needs to be proofread.


PUBLIC LAW 102-25—APR. 6, 1991 105 STAT. 97 (3) the temporary waiver or modification will not significantly detract from the purposes and objectives of subtitles A through E of title XII of the Food Security Act of 1985. (b) REPORT. —The Secretary shall, not later than March 31, 1992, submit a report to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate regarding the temporary waivers and modifications granted under subsection (a). Such report shall include— (1) a summary of the types of waivers and modifications granted under subsection (a); (2) a summary of the number and the geographical breakdown of the waivers and modifications granted under subsection (a); and (3) an assessment of the effect of the waivers and modifications granted under subsection (a) on the ability of the programs established under subtitles A through E of title XII of the Food Security Act of 1985 to accomplish the purposes and objectives of such subtitles. SEC. 385. FARM CREDIT PROVISIONS (a) IN GENERAL. —The Secretary shall establish a program to provide relief to any borrower of a farmer program loan if the borrower is an activated reservist. (b) BORROWER REUEF. —The Secretary shall modify the terms and conditions of farmer program loans (including loans in which any participant in the loan is an activated reservist) made or insured under the Consolidated Farm and Rural Development Act, or purchased under section 309B of such Act (7 U.S.C. 1926b), to the extent necessary, as determined by the Secretary, to alleviate conditions of distress related to the activation of such reservist and to assist keeping the farm or ranch of an activated reservist borrower in operation for such period of time as the Secretary determines is fair and equitable. (c) LOAN MODIFICATIONS. — The Secretary may modify farmer program loans, including delinquent loans, by deferring scheduled pay- ments, reducing interest rates or accumulated interest charges, reamortizing or consolidating loans, reducing the amount of scheduled payments, releasing additional income, reducing collateral requirements, or taking any other restructuring actions determined appropriate by the Secretary to assist in maintaining the farm or ranch for such period of time as the Secretary determines is fair and equitable. (d) NOTICE.— The Secretary shall develop a program to notify any person that has an interest in, or is operating, a farm or ranch of an activated reservist who is a farmer program loan borrower of the borrower relief provisions of this section. SEC. 386. PROGRAM ADMINISTRATION PROVISIONS (a) SIGN-UP PROCEDURES. —The Secretary may provide for procedures by which the spouse or other close relative (as determined by the Secretary) of an activated reservist may participate in, or make decisions related to, a program administered by the Secretary under the Agricultural Act of 1949 (7 U.S.C. 1421 et seq.), the Conservation and Domestic Allotment Act (16 U.S.C. 590a et seq.), the Food Security Act of 1985 (Public Law 99-198), the Food, Agriculture, Conservation, and Trade Act of 1990 (Public Law 101-624), the Consolidated Farm and Rural Development Act (7 U.S.C. 1921 et Loan programs.