Farm Emergency Credit Act of 1985

Summary

Farm Emergency Credit Act of 1985 - Amends the Agricultural Act of 1949 to direct the Secretary of Agricultural to make advance (recourse) price support loans available for 1985 for producers participating in the 1985 farm program. Makes up to 50 percent of such crop eligible for advance payments. Permits loan conversion to nonrecourse status upon harvest and availability as loan collateral. Administers such program through the Commodity Credit Corporation and the local farmer committees. Amends the Consolidated Farm and Rural Development Act to provide agricultural lenders with a 90 percent Federal guarantee in exchange for interest rates of not more than two and one-half percent above the Federal Reserve discount rate. Sets the Farmers Home Administration (FmHA) loan cash flow requirement at 100 percent. Authorizes FY 1985 appropriations for farm ownership and operating loan guarantees. Expresses the sense of the Congress that the Secretary should take immediate steps to make personnel and other resources available to facilitate the administration of such program. Requires the FmHA to approve or reject "approved lender" applications within 15 days.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 7 February 1985

   Introduced

   Referred to House Committee on Agriculture.

   Source: IntroReferral

2. 7 February 1985

   Introduced

   Introduced in House

   Source: IntroReferral

3. 7 February 1985

   Introduced

   Introduced in House

   Source: IntroReferral

4. 14 February 1985

   Referred

   Referred to Subcommittee on Conservation Credit and Rural Development.

   Source: Committee

5. 20 February 1985

   Committee

   Executive Comment Requested from USDA.

   Source: Committee

6. 21 February 1985

   Reported

   Ordered to be Reported (Amended).

   Source: Committee

7. 21 February 1985

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

8. 21 February 1985

   Committee

   Forwarded by Subcommittee to Full Committee (Amended).

   Source: Committee

9. 25 February 1985

   Introduced

   Referred to House Committee on Appropriations Sequentially, for a Period not to Exceed 15 Legislative Days.

   Source: IntroReferral

10. 25 February 1985

    Reported

    Reported to House (Amended) by House Committee on Agriculture. Report No: 99-6 (Part I).

    Source: Committee

11. 25 February 1985

    Reported

    Reported to House (Amended) by House Committee on Agriculture. Report No: 99-6 (Part I).

    Source: Committee

12. 26 February 1985

    Reported

    Rules Committee Resolution H.Res.79 Reported to House.

    Source: Floor

13. 26 February 1985

    Floor

    Committee on Rules Granted an Open Rule Providing One Hour of General Debate; Waiving all Points of Order Against Consideration of the Bill for Failure to Comply with the Provisions of Clause 2(L)(6) of Rule XXI.

    Source: Floor

14. 27 February 1985

    Vote

    Passed House (Amended) by Yea-Nay Vote: 318 - 103 (Record Vote No: 18).

    Source: Floor

15. 27 February 1985

    Vote

    Passed/agreed to in House: Passed House (Amended) by Yea-Nay Vote: 318 - 103 (Record Vote No: 18).

    Source: Floor

16. 27 February 1985

    Passed

    House Agreed to Amendments Adopted by the Committee of the Whole.

    Source: Floor

17. 27 February 1985

    Floor

    Called up by House by Rule.

    Source: Floor

18. 27 February 1985

    Passed

    Rule Passed House.

    Source: Floor

19. 28 February 1985

    Introduced

    Received in the Senate and read twice and referred to the Committee on Agriculture.

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Passed House amended

  summary · EN · 27 February 1985

  Open at official source

• Reported to House amended, Part I

  summary · EN · 25 February 1985

  Open at official source

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• Introduced in House

  summary · EN · 7 February 1985

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Daschle, Thomas A. [D-SD] · D · Sponsor
• Rep. Penny, Timothy J. [D-MN-1] · D · Sponsor
• Rep. Bedell, Berkley W. [D-IA-6] · D · Sponsor
• Sen. Dorgan, Byron L. [D-ND] · D · Sponsor
• Rep. Glickman, Dan [D-KS-4] · D · Sponsor
• Rep. Volkmer, Harold L. [D-MO-9] · D · Sponsor
• Rep. Stangeland, Arlan [R-MN-7] · R · Sponsor
• Rep. Thomas, Lindsay [D-GA-1] · D · Sponsor
• Rep. Tallon, Robert M. (Robin) [D-SC-6] · D · Sponsor
• Rep. Synar, Mike [D-OK-2] · D · Sponsor
• Sen. Durbin, Richard J. [D-IL] · D · Sponsor
• Rep. Williams, Pat [D-MT-At Large] · D · Sponsor
• Rep. Sabo, Martin Olav [D-MN-5] · D · Sponsor
• Rep. Stenholm, Charles W. [D-TX-17] · D · Sponsor
• Rep. Slattery, Jim [D-KS-2] · D · Sponsor
• Rep. Stallings, Richard H. [D-ID-2] · D · Sponsor
• Rep. Foley, Thomas S. [D-WA-5] · D · Cosponsor
• Rep. Wolpe, Howard E. [D-MI-3] · D · Cosponsor
• Rep. Alexander, Bill [D-AR-1] · D · Cosponsor
• Rep. Evans, Lane [D-IL-17] · D · Cosponsor
• Rep. Jones, Ed [D-TN-8] · D · Cosponsor
• Sen. Shelby, Richard C. [R-AL] · D · Cosponsor
• Rep. Robinson, Tommy F. [D-AR-2] · D · Cosponsor
• Rep. de la Garza, E. [D-TX-15] · D · Cosponsor
• Rep. Sikorski, Gerry E. [D-MN-6] · D · Cosponsor
• · ssaf00 · Standing
• · hsap00 · Standing
• · hsag00 · Standing

Related records

• related to → A resolution providing for the consideration of the bill (H.R. 1035) to provide emergency credit and debt adjustment relief to financially stressed farmers and ranchers.
• related to ← Farm Emergency Credit Act of 1985
• related to ← Farm Emergency Credit Act of 1985
• amends ← An amendment to require the Secretary to insure that requests from lending institutions for designations as an approved lender under the program be reviewed and a decision made within 15 days of the application's submission. Also any request of a lending institution where 25 percent or more of the institution's portfolio of outstanding loans are agricultural shall be automatically approved.
• amends ← An amendment to the Bereuter amendment to strike from the Bereuter text the provision that banks with 25 percent or more of their outstanding loan portfolio in agricultural loans are to be automatically granted approved lending status under the bill. It substitutes the following: the reviewing of the lender's application should include a determination for purposes of the approved lender program that the federal land banks and production credit associations chartered under the Farm Credit Act of 1971 are eligible lenders if the Governor of the Farm Credit Administration informs the Secretary that they have adequate reserves against losses.
• amends ← An amendment to require borrowers obtaining new FmHA guaranteed operating loans to use their existing lenders, unless the lender has failed, closed, or been liquidated. It also requires the payments to the stretched out over five years.
• amends ← Amendments en bloc to 1) strike out the crop insurance requirement as a condition to obtaining a guaranteed loan, 2) add to the requirement that advance CCC loans be given only to those who cannot obtain credit elsewhere that no producer, who has received a commitment or been furnished sufficient credit or a loan for production of the 1985 crops, shall be eligible for an advance recourse loan to finance the production of the crops, 3) lower the ceiling of advance recourse loans for any one person from 200,000 dollars to 50,000 dollars; 4) add to the criteria for limits on interest on loans that the rate may not exceed the lowest rate charged on other agricultural loans by the lender minus 2 percentage points and 5) permit eligibility for loans if the farm or ranch was substantially affected by a natural disaster and credit cannot be found elsewhere.