12 2 STA T . 11 65PUBLIC LA W 11 0– 2 34—M A Y 22 , 200 8‘ ‘ (C)reducing’ ’
( v i) byst ri k ing ‘‘ a reas , and ( 4 )t o ’’ and inserting ‘‘areas; and ‘‘( D ) to’’; ( E )int h e sentence beginning ‘‘ S uch l oans,’’, by striking ‘‘Such loans,’’ and inserting the f ollo w ing
‘‘( 3 ) LOANGU A R AN TE E S.— Loans described in p aragraph ( 2 ),’’; and ( F ) in the last sentence, by striking ‘‘ N o loan’’ and inserting the following: ‘‘(4) M A XIM UM AMOUNT O FP RIN C IPA L .—No loan’’; and (3) in subsection (g)— ( A ) in paragraph ( 1 ), by inserting ‘‘, including guaran - tees described in paragraph (3)(A)(ii)’’ before the period at the end; ( B ) in paragraph (3)(A)— (i) by striking ‘‘(A) I N GENERAL.— T he Secretary’’ and inserting the following: ‘‘(A) ELIGI B ILIT Y .— ‘‘(i) IN GENERAL.—The Secretary’’; and (ii) by adding at the end the following: ‘‘(ii) E Q UITY.—The Secretary m ay guarantee a loan made for the purchase of preferred stock or similar e q uity issued by a cooperative organi z ation or a fund that invests primarily in cooperative organizations, if the guarantee significantly benefits 1 or more entities eligible for assistance for the purposes described in subsection (a)(1), as determined by the Secretary.’’; and (C) in paragraph ( 8 )(A)(ii), by striking ‘‘a pro j ect— ’’ and all that follows through the end of subclause (II) and inserting ‘‘a project that— ‘‘(I)(aa) is in a rural area; and ‘‘(bb) provides for the value-added processing of agricultural commodities; or ‘‘(II) significantly benefits 1 or more entities eligible for assistance for the purposes described in subsection (a)(1), as determined by the Sec- retary.’’. (b) CONFORMING AMEN D MENTS.— (1) Section 3 07 (a)( 6 )(B) of the Consolidated Farm and R ural Development Act (7 U .S.C. 1 9 27(a)(6)(B)) is amended by striking clause (ii) and inserting the following: ‘‘(ii) section 310B(a)(2)(A); and’’. (2) Section 310B(g) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1932(g)) is amended by striking ‘‘subsection (a)(1)’’ each place it appears in paragraphs (1), (6)(A)(iii), and (8)(C) and inserting ‘‘subsection (a)(2)(A)’’. (3) Section 333A(g)(1)(B) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1983a(g)(1)(B)) is amended by striking ‘‘section 310B(a)(1)’’ and inserting ‘‘section 310B(a)(2)(A)’’. (4) Section 381E(d)(3)(B) of the Consolidated Farm and Rural Development Act (7 U.S.C. 2009d(d)(3)(B)) is amended by striking ‘‘section 310B(a)(1)’’ and inserting ‘‘section 310B(a)(2)(A)’’.
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