A bill to amend the Consolidated Farm and Rural Development Act to authorize the Secretary of Agriculture to increase the maximum amounts of Farm Service Agency loans for years in which those maximum amounts are insufficient to satisfy demand, and for other purposes.
USA115th CongressS-2552| Senate
| Updated: 3/14/2018
Gary C. Peters
Democratic Senator
Michigan
Cosponsors (1)
Agriculture, Nutrition, and Forestry Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Farm Service Agency Loan Flexibility Act This bill amends the Consolidated Farm and Rural Development Act to authorize the Department of Agriculture (USDA) to make or guarantee certain farm loans that exceed the aggregate principal amount authorized for the year by up to 25% if the need for loans exceeds the authorized limit. For any year in which USDA uses the authority provided by this bill, USDA may use funds from the Commodity Credit Corporation that are equal to the difference between: (1) the cost of making or guaranteeing the farm loans for that year, and (2) the appropriations provided for the loans for that year.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Agriculture and Food
Administrative law and regulatory proceduresAgricultural prices, subsidies, creditCongressional oversightGovernment lending and loan guarantees
A bill to amend the Consolidated Farm and Rural Development Act to authorize the Secretary of Agriculture to increase the maximum amounts of Farm Service Agency loans for years in which those maximum amounts are insufficient to satisfy demand, and for other purposes.
USA115th CongressS-2552| Senate
| Updated: 3/14/2018
Farm Service Agency Loan Flexibility Act This bill amends the Consolidated Farm and Rural Development Act to authorize the Department of Agriculture (USDA) to make or guarantee certain farm loans that exceed the aggregate principal amount authorized for the year by up to 25% if the need for loans exceeds the authorized limit. For any year in which USDA uses the authority provided by this bill, USDA may use funds from the Commodity Credit Corporation that are equal to the difference between: (1) the cost of making or guaranteeing the farm loans for that year, and (2) the appropriations provided for the loans for that year.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in Senate
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Gary C. Peters
Democratic Senator
Michigan
Cosponsors (1)
Agriculture, Nutrition, and Forestry Committee
Agriculture and Food
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Administrative law and regulatory proceduresAgricultural prices, subsidies, creditCongressional oversightGovernment lending and loan guarantees