PUBLIC LAW 102-554—OCT. 28, 1992 106 STAT. 4155

or the outstanding principal and interest of the loan, which-
ever is higher;

"(dd) the property may be purchased by another party;
and

"(ee) if the property is purchased by another party,

the property will not be placed in the inventory of the

Secretary and the borrower-owner will forfeit the rights

and protections provided under this title; and

"(III) the opportunity of the borrower-owner to consult with

the Indian tribe that has jurisdiction over the reservation in

which the real property is located or counsel to determine

if State or tribal law provides rights and protections that are

more beneficial than those provided the borrower-owner under

this title.

"(iv)(I) Except as provided in subclause (II), the Secretary shall
accept the voluntary conveyance of real property described in clause
(i).

"(II) If a hazardous substance (as defined in section 101(14)
of the Comprehensive Environmental Response, Compensation, and
Liability Act of 1980 (42 U.S.C. 9601(14))) is located on the property
and the Secretary takes remedial action to protect human healtn
or the environment if the property is taken into inventory, the
Secretary shall accept the voluntary conveyance of the property
only if the Secretary determines that it is in the best interests
of the Federal Government.

"(v) If a borrower-owner does not voluntarily convey to the
Secretary real property described in clause (i), at least 30 days
before a foreclosure sale of the property, the Secretary shall proviiae
written notice to the Indian tribe that has jurisdiction over the
reservation in which the real property is located of—
"(I) the sale;

"(II) the fair market value of the property; and
"(III) the requirements of this subparagraph.
"(vi)(I) Except as provided in subclause (II), at a foreclosure
sale of real property described in clause (i), the Secretary shall
offer a bid for the property that is equal to the higher of—
"(aa) the fair market value of the property; or
"(bb) the outstanding principal and interest of the loan.
"(II) If a hazardous substance (as defined in section 101(14)
of the Comprehensive Environmental Response, Compensation, and
Liability Act of 1980 (42 U.S.C. 9601(14))) is located on the property
and the Secretary takes remedial action to protect human healtn
or the environment if the property is taken into inventory, subclause
(I) shall apply only if the Secretary determines that it is in the
best interests of the Federal Government.".

SEC. 18. DEBT SERVICE MARGIN REQUIREMENTS; CERTIFIED LEND-
ERS PROGRAM.

Section 339 (7 U.S.C. 1989) is attended-
CD by striking "SEC. 339. The" and inserting the following:

"SEC. 339. RULES AND REGULATIONS.

"(a) IN GENERAL.—The"; and

(2) by adding at the end the following new subsections:

"(b) DEBT SERVICE MARGIN REQUIREMENTS.—Notwithstanding
subsection (a), in providing farmer program loan guarantees under
this title, the Secretary shall consider the income of the borrower