(a) Cost-share rate

Subject to subsections (b) and (c), the maximum cost-share payment under sections 2201 and 2202 of this title shall not exceed 75 percent of the total allowable cost, as determined by the Secretary.

(b) Exception

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Notwithstanding subsection (a), a payment to a limited resource farmer or rancher, a socially disadvantaged farmer or rancher (as defined in subsection (a) of section 2279 of title 7), or a beginning farmer or rancher under section 2201 or 2202 of this title shall not exceed 90 percent of the total allowable cost, as determined by the Secretary.

(c) Limitation

The total payment under sections 2201 and 2202 of this title for a single event may not exceed 50 percent of the agriculture value of the land, as determined by the Secretary.