Prior Provisions
A prior section 2020, Pub. L. 92–181, title I, § 1.12, Dec. 10, 1971, 85 Stat. 586; Pub. L. 96–592, title I, § 109, Dec. 24, 1980, 94 Stat. 3439, related to loans through associations or agents, prior to the general amendment of this subchapter by Pub. L. 100–233, § 401.
Amendments
2008—Subsec. (b). Pub. L. 110–246, § 5401(a), designated first sentence as par. (1), inserted heading, added par. (2), and struck out former second sentence which related to computation of the assessment on the same basis as is used to compute the premium payment and provided formula to calculate a maximum amount.
2002—Subsec. (b)(1). Pub. L. 107–171, § 5403(a)(2)(A)(i), inserted “and Government Sponsored Enterprise-guaranteed loans (as defined in section 2277a–4(a)(4) of this title) provided for in paragraph (4)” after “government-guaranteed loans (as defined in section 2277a–4(a)(3) of this title) provided for in paragraph (3)”.
Subsec. (b)(4). Pub. L. 107–171, § 5403(a)(2)(A)(ii)–(iv), added par. (4).
1996—Pub. L. 104–105, § 215(a)(2)(C), which directed amendment of “section 1.12(b)”, without specifying the name of the Act being amended, was executed to this section, which is section 112 of the Farm Credit Act of 1971, to reflect the probable intent of Congress.
Subsec. (b)(1). Pub. L. 104–105, § 215(a)(2)(C)(i), inserted “(as defined in section 2277a–4(a)(3) of this title)” after “government-guaranteed loans”.
Subsec. (b)(3). Pub. L. 104–105, § 215(a)(2)(C)(i), inserted “(as so defined)” after “government-guaranteed loans” in subpars. (A) and (B).
1989—Subsec. (b). Pub. L. 101–220, § 6(b)(1), inserted “, other association making direct loans under the authority provided under section 2279b of this title,” after “production credit association”.
Subsec. (b)(1). Pub. L. 101–220, § 6(b)(2)(A), inserted “funded by or” before “discounted with” and “excluding the guaranteed portions of government-guaranteed loans provided for in paragraph (3),” and struck out “and” after “multiplied by 0.0015;”.
Subsec. (b)(2). Pub. L. 101–220, § 6(b)(2)(B), inserted “funded by or” before “discounted with” and substituted “0.0025; and” for “0.0025.”.
Subsec. (b)(3). Pub. L. 101–220, § 6(b)(2)(C), added par. (3).
1988—Subsec. (a). Pub. L. 100–399 designated existing provision as subsec. (a), inserted heading, substituted “directors of the bank” for “directors of each district bank”, and added subsec. (b).
Effective Date of 2002 Amendment
Pub. L. 107–171, title V, § 5403(b), May 13, 2002, 116 Stat. 351, provided that:
“The amendments made by this section [amending this section and sections
2277a–4 and
2277a–5 of this title] shall apply with respect to determinations of premiums for calendar year 2002 and for any succeeding calendar year, and to certified statements with respect to such premiums.”
Effective Date of 1989 Amendment
Pub. L. 101–220, § 6(c), Dec. 12, 1989, 103 Stat. 1880, provided that:
“The amendments made by subsections (a) and (b) [amending sections
2020,
2277a–4,
2277a–8, and
2277a–10 of this title] shall be effective for insurance premiums due to the Farm Credit System Insurance Corporation under the
Farm Credit Act of 1971 (
12 U.S.C. 2001 et seq.) on or after
January 1, 1990, based on the loan volume of each bank for each calendar year beginning with calendar year 1989, and shall be effective for the calculation of the initial premium payment required under section 5.56(c) of the
Farm Credit Act of 1971 (
12 U.S.C. 2277a–5(c)).”