U.S. Federal and State Cases, Codes, and Articles
Select a tab to search United States Cases, Codes, or Articles
U.S. Federal and State Cases, Codes, and Articles
Select a tab to search United States Cases, Codes, or Articles
Search for cases
Indicates required field
Search by keyword or citation
Indicates required field
Search blogs, article pages, and cases and codes
Indicates required field
Current as of October 02, 2022 | Updated by FindLaw Staff
(a) Amount available for allocations. See § 1940.552(a) of this subpart.
(b) Basic formula criteria, data source and weight. See § 1940.552(b) of this subpart.
(1) The criteria used in the basic formula are:
(i) State's percentage of national rural population—50 percent.
(ii) State's percentage of national rural population with incomes below the poverty level—25 percent.
(iii) State's percentage of national nonmetropolitan unemployment—25 percent.
(2) The data source for the first criterion is the most recent decennial Census data. The data source for the second criterion is the 5–year data from the American Community Survey (ACS) or, if needed, other Census Bureau data. The data source for the third criterion is the most recent Bureau of Labor Statistics data. Each criterion is assigned a specific weight according to its relevance in determining need. The percentage representing each criterion is multiplied by the weight factor and summed to arrive at a State factor (SF). The SF cannot exceed 0.05.
SF = (criterion (b)(1)(i) x 50 percent) + (criterion (b)(1)(ii) x 25 percent) + (criterion (b)(1)(iii) x 25 percent)
(c) Basic formula allocation. See § 1940.552(c) of this subpart. States receiving administrative allocations do not receive formula allocations.
(d) Transition formula. See § 1940.552(d) of this subpart. The percentage range for the transition formula equals 30 percent (±15%).
(e) Base allocation. See § 1940.552(e) of this subpart. States receiving administrative allocations do not receive base allocations.
(f) Administrative allocation. See § 1940.552(f) of this subpart. States participating in the formula base allocation procedures do not receive administrative allocations.
(g) Reserve. See § 1940.552(g) of this subpart. States may request funds by forwarding a completed copy of guide 26 of subpart A of part 1942 of this chapter (available in any Rural Development office), to the National Office. Generally, a request for additional funds will not be honored unless the State has insufficient funds to obligate the loan requested.
(h) Pooling of funds. See § 1940.552(h) of this subpart. Funds are generally pooled at mid-year and year-end. Pooled funds will be placed in the National Office reserve and will be made available administratively.
(i) Availability of the allocation. See § 1940.552(i) of this subpart. The allocation of funds is made available for States to obligate on an annual basis although the Office of Management and Budget apportions it to the Agency on a quarterly basis.
(j) Suballocation by the State Director. See § 1940.552(j) of this subpart. State Director has the option to suballocate to District Offices.
(k) Other documentation. Not applicable.
Cite this article: FindLaw.com - Code of Federal Regulations Title 7. Agriculture § 7.1940.585 Community Facility loans - last updated October 02, 2022 | https://codes.findlaw.com/cfr/title-7-agriculture/cfr-sect-7-1940-585/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Response sent, thank you
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)