106 STAT. 4152 PUBLIC LAW 102-554—OCT. 28,1992

SEC. 13. PROCESSING OF APPLICATIONS FOR FARM OPERATING
LOANS.

Section 333A(aX2) (7 U.S.C. 1983a(aX2» is amended—

(1) by inserting W after "(2)";

(2) by inserting "(other than under subtitle B)" after "under
this title*; and

(3) by adding at the end the following new subparagraph:
"(BXi) Not later than 10 calendar days after the Secretary

receives an application for an operating loan or loan guarantee
under subtitle B, the Secretary shall notify the applicant of any
information required before a decision may be made on the applica-
tion. On receipt of an application, the Secretary shall request from
other parties such information as may be needed in connection
with the application.

"(ii) Not later than 15 calendar days after the date an agency
of the Department of Agriculture receives a request for information
made pursuant to clause (i), the agency shall provide the Secretary
with the requested information.

"(iii) If, not later than 20 calendar days after the date a request
is made pursuant to clause (i) with respect to an application, the
Secretary has not received the information requested, the Secretary
shall notify the applicant and the district office of the Farmers
Home Administration, in writing, of the outstanding information.

"(iv) A county office shall notify the district office of the Fanners
Home Administration of each application for an operating loan
or loan guarantee under subtitle B that is pending more than
45 days after receipt, and the reasons the application is pending.

"(y) A district office that receives a notice provided under clause
(iv) with respect to an application shall immediately take steps
to ensure that final action is taken on the application, not later
than 15 days after the date of the receipt of the notice.

«(vi) The district office shall report to the State office of the
Farmers Home Administration on each application for an operating
loan or loan guarantee under subtitle B that is pending more
than 45 days after receipt by the county committee, and the reasons
the application is pending.

(vii) Each month, the Secretary shall notify the Committee
on Agriculture of the House of Representatives and the Committee
on Agriculture, Nutrition, and Forestry of the Senate, on a State-
by-State basis, as to each application for an operating loan or
loan guarantee under subtitle B on which final action had not
been taken within 60 calendar days after receipt by the Secretary,
and the reasons final action had not been taken. .

SEC. 14. GRADUATION OF SEASONED DIRECT LOAN BORROWERS TO
THE LOAN GUARANTEE PROGRAM.

Section 333A (7 U.S.C. 1983a) is amended by adding at the
end the following new subsection:
"(fXD As used in this subsection:

"(A) The term 'approved lender* means a lender approved
prior to the date of enactment of this subsection by the Sec-
retary under the approved lender program established by
exhibit A to subpart B of part 1980 or title 7, Code of Federal
Regulations (as in effect on January 1, 1991), or a lender
certified under section 114.

"(B) The term 'seasoned direct loan borrower* means a
borrower receiving a direct loan under this title who has been