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Code of Federal Regulations Title 7. Agriculture § 7.761.205 Computing the formula allocation

Current as of October 02, 2022 | Updated by FindLaw Staff

(a) The formula allocation for FO, CL, or OL loan funds is equal to:

(1) The amount available for allocation by the Agency minus the amounts held in the National Office reserve and distributed by base and administrative allocation, multiplied by

(2) The State Factor, which represents the percentage of the total amount of the funds for a loan program that the National Office allocates to a State Office.

formula allocation = (amount available for allocation-national reserve-base allocation-administrative allocation) x State Factor

(b) To calculate the State Factor, the Agency:

(1) Uses the following criteria, data sources, and weights:

Criteria

Loan type criterion is used for

Data source

Weight for FO loans (percent)

Weight for OL loans (percent)

Farm operators with sales of $2,500-$39,999 and less than 200 days work off the farm

FO, CL, and OL loans

U.S. Census of Agriculture

15

15

Farm operators with sales of $40,000 or more and less than 200 days work off farm

FO, CL, and OL loans

U.S. Census of Agriculture

35

35

Tenant farm operators

FO, CL, and OL loans

U.S. Census of Agriculture

25

20

3-year average net farm income

FO, CL, and OL loans

USDA Economic Research Service

15

15

Value of farm real estate assets

FOs and CLs

USDA Economic Research Service

10

N/A

Value of farm non-real estate assets

OL loans

USDA Economic Research Service

N/A

15

(2) Determines each State's percentage of the national total for each criterion;

(3) Multiplies the percentage for each State determined in paragraph (b)(2) of this section by the applicable weight for that criterion;

(4) Sums the weighted criteria for each State to obtain the State factor.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 7. Agriculture § 7.761.205 Computing the formula allocation - last updated October 02, 2022 | https://codes.findlaw.com/cfr/title-7-agriculture/cfr-sect-7-761-205/

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