Emergency Agricultural Act of 1983

Summary

Emergency Agricultural Act of 1983 - Title I: Emergency Loan Guarantees - Authorizes the Secretary of Agriculture to guarantee up to 90 percent of private lender farm loans if the lenders agree to defer payments and interest or foreclosures through FY 1984. Prohibits the Secretary from: (1) charging any fees in connection with such agreements; and (2) guaranteeing loans in excess of specified ceilings. Sets aside specified moneys in the Agricultural Credit Insurance Fund for such loan guarantee program. Directs the Secretary to use Federal intermediate banks and their credit associations to administer such program. Title II: Loan Deferrals - Amends the Consolidated Farm and Rural Development Act to permit family farmers to request Farmers Home Administration (FmHA) loan repayment and foreclosure deferrals through FY 1984. Provides for loan consolidation and rescheduling at the end of such deferral period. Requires the Secretary to provide notification to FmHA borrowers regarding such deferral and rescheduling programs. Title III: Domestic Payments In Kind - Amends the Agricultural Act of 1949 to exempt 1983 through 1985 wheat, feed grain, upland cotton, and rice payments-in-kind from specified payment limitation and sales price restrictions. Requires payment adjustments to be made to double-cropping farmers whose second crop's acreage is reduced as a result of program participation. Prohibits soybeans from being grown on acreage required to be devoted to conservation uses. Title IV: Exports - Amends the Agricultural Act of 1949, as amended by the Agriculture and Food Act of 1981, to provide for the donation abroad and the expansion of U.S. export markets through the use of Commodity Credit Corporation surpluses. Title V: Payment Limitations - Amends the Agriculture and Food Act of 1981 to increase agricultural program payment limitations for the 1982 through 1985 crops of wheat, feed grains, upland cotton, and rice.

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1 official file

• Introduced in House

  summary · EN · 8 February 1983

  Open at official source

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