Farm Service Agency February 11, 2005 – Federal Register Recent Federal Regulation Documents

This rule clarifies the Indian Tribal Land Acquisition Program (ITLAP) regulations for borrowers who apply for a rental value write- down. The rule clarifies the method for determining the rental value of security for purposes of a write-down, adds a definition of ``rental value,'' clarifies other write-down eligibility provisions, and limits new loan eligibility for borrowers who have received a write-down in the past. These clarifications are intended to reduce the borrower's costs of applying for a rental value write-down, and reduce the burden on Agency employees in processing requests.