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25 U.S.C. § 5142

Reduction of unpaid principal

United States · Title 25 — INDIANS · Status: effective

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25 U.S.C. § 5142, Reduction of unpaid principal, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/461871
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The Secretary of Agriculture may, on the application of the borrower of a loan or loans made under sections 5136 to 5143 of this title, reduce the unpaid principal balance of such loan or loans to the current fair market value of the land purchased with the proceeds of the loan or loans if— Current fair market value under subsection (a) of this section shall be determined through an appraisal by an independent qualified fee appraiser, selected by mutual agreement between the borrower and the Secretary of Agriculture. The cost of appraisals undertaken under paragraph (1) shall be paid by the borrower. Decisions of the Secretary of Agriculture under this section shall be appealable in accordance with the provisions of section 333B 11 See References in Text note below. of the Consolidated Farm and Rural Development Act (7 U.S.C. 1983b). A borrower that had a loan or loans reduced under this section shall not submit an application for another reduction on such loan or loans for a period of 5 years after the initial reduction.

Legislative history

The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone. The law that originally enacted this section predates the public laws loaded here, so only later amendments are listed.

  • Amended byPub. L. 101-82(H.R. 2467)1989-08-14
    Disaster Assistance Act of 1989
    House: no recorded tallySenate: no recorded tally