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H.B. 105

This document includes House Committee Amendments incorporated into the bill on Wed, Feb 4, 2009 at 2:02 PM by ddonat. -->              1     





Chief Sponsor: John G. Mathis

Senate Sponsor: Dennis E. Stowell

             8      LONG TITLE
             9      General Description:
             10          This bill expands the powers of the Department of Agriculture and Food in
             11      administering the rural rehabilitation program.
             12      Highlighted Provisions:
             13          This bill:
             14          .    allows the Department of Agriculture and Food to approve and make grants and
             15      loans to certain individuals under the rural rehabilitation program.
             16      Monies Appropriated in this Bill:
             17          None
             18      Other Special Clauses:
             19          None
             20      Utah Code Sections Affected:
             21      AMENDS:
             22          4-19-2, as last amended by Laws of Utah 2007, Chapter 179
             24      Be it enacted by the Legislature of the state of Utah:
             25          Section 1. Section 4-19-2 is amended to read:
             26           4-19-2. Department authorized to approve and make grants and loans, acquire
             27      property, or lease or operate property.

             28          The department, in conjunction with the administration of the rural rehabilitation
             29      program, may:
             30          (1) approve and make a H. [ farm ] .H [loans] loan H. to a farm or agricultural
             30a      cooperative association regulated under Title 3, General Provisions Relating to Agricultural
             30b      Associations, .H subject to Section 4-19-3 , including:
             31          (a) taking security for the [loans] loan through [mortgages, trust deeds, pledges, or
             32      other security devices] a mortgage, trust deed, pledge, or other security device;
             33          (b) purchasing a promissory [notes] note, real estate [contracts, mortgages, trust deeds,
             34      or other instruments or evidences] contract, mortgage, trust deed, or other instrument or
             35      evidence of indebtedness; and
             36          (c) collecting, compromising, canceling, or adjusting [claims and obligations] a claim
             37      or obligation arising out of the administration of the rural rehabilitation program;
             38          (2) purchase or otherwise obtain property in which the [division] department has
             39      acquired an interest on account of [any] a mortgage, trust deed, lien, pledge, assignment,
             40      judgment, or other means at any execution or foreclosure sale; [and]
             41          (3) operate or lease, if necessary to protect its investment, [any] property in which it
             42      has an interest or sell or otherwise dispose of the property[.]; and
             43          (4) approve and make an education loan or an education grant to an individual for the
             44      purpose of attending a vocational school, college, or university to obtain additional education,
             45      qualifications, or skills.

Legislative Review Note
    as of 1-13-09 8:10 AM

Office of Legislative Research and General Counsel

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