Farm credit and rural development money may be moved between accounts
What the document says“may be reprogrammed as necessary between allocations for loan categories to ensure that overall program levels are equal to, to the maximum extent practicable, the fiscal year 2024 program levels”
Section 1205 allows reprogramming between loan categories in the Agricultural Credit Insurance Fund Program Account, notwithstanding section 346(b)(2)(A)(i)(I) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1994(b)(2)(A)(i)(I)). Section 1206 allows transfers among Rural Development Programs accounts and directs that $34,000,000 be transferred to the Rental Assistance Program.
What the document actually says“may be reprogrammed as necessary between allocations for loan categories to ensure that overall program levels are equal to, to the maximum extent practicable, the fiscal year 2024 program levels”
Money may be shifted between kinds of loans. The aim is to match last year's totals.
Loan demand does not follow last year's split. Shifting the money keeps each kind funded. Section 1206 does the same for rural programs.
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