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United States · Bill · HR

H.R. 15560 (93rd)

Emergency Livestock Credit Act

passedUnited States· United States Congress· EN

Introduced

21 June 1974

Last action

16 July 1974 · Vote

Status

Measure laid on table in House, S. 3679 passed in lieu.

Sponsors

Rep. Poage, W. R. [D-TX-11], Rep. Alexander, Bill [D-AR-1], Rep. Baker, LaMar [R-TN-3], Rep. Bergland, Bob [R-MN-7], Rep. Bowen, David R. [D-MS-2], Rep. de la Garza, E. [D-TX-15], Rep. Denholm, Frank E. [D-SD-1], Rep. Findley, Paul [R-IL-20], Rep. Foley, Thomas S. [D-WA-5], Rep. Johnson, James P. (Jim) [R-CO-4], Rep. Jones, Ed [D-TN-8], Rep. Madigan, Edward R. [R-IL-15], Rep. Mathis, Dawson [D-GA-2], Rep. Mayne, Wiley [R-IA-6], Sen. Melcher, John [D-MT], Rep. Rarick, John R. [D-LA-6], Rep. Rose, Charlie [D-NC-7], Rep. Sisk, B. F. [D-CA-15], Rep. Stubblefield, Frank A. [D-KY-1], Rep. Thone, Charles [R-NE-1], Rep. Vigorito, Joseph P. [D-PA-24], Rep. Wampler, William C. [R-VA-9]

Subjects

Discovery layer

Source updated

3 September 2025

Official sourceView documentsShare

Summary

Emergency Livestock Credit Act - Authorizes the Secretary of Agriculture to establish a guaranteed loan program for bona fide farmers and ranchers, including operators of feedlots, who are primarily engaged in agricultural production for the purpose of breeding, raising, fattening, or marketing livestock (meaning beef cattle, dairy cattle, swine, chickens, turkeys, and the products thereof.) States that no contract guaranteeing any such loan by an approved lender shall require the Secretary to participate in more than 90 percent of any loss sustained thereon. Provides that loans guaranteed under this Act shall bear interest at a rate to be agreed upon by the lender and borrower. Sets forth conditions for such loan guarantees, including that: (1) the farmer or rancher is primarily engaged in agricultural production, and the financing to be furnished the farmer or rancher is to be used for purposes related to the breeding, raising, fattening, or marketing of livestock or livestock products; (2) the total loans guaranteed under this Act for any farmer or rancher shall not exceed $350,000; and (3) in the case of any loan to refinance the livestock operations of a farmer or rancher, the loan and refinancing are absolutely essential in order for the farmer or rancher to remain in business. Limits such loan guarantees outstanding under this Act to a maximum of $3,000,000,000 at any one time. Terminates the authority to make new guarantees under this Act one year from the date of enactment, except that the Secretary of Agriculture may extend such authority for a period not to exceed six months if he determines a need and properly notifies Congress.

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

Timeline

  1. 21 June 1974

    Introduced

    Referred to House Committee on Agriculture.

    Source: IntroReferral

  2. 21 June 1974

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 21 June 1974

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 2 July 1974

    Reported

    Reported to House from the Committee on Agriculture with amendment, H. Rept. 93-1171.

    Source: Committee

  5. 2 July 1974

    Reported

    Reported to House from the Committee on Agriculture with amendment, H. Rept. 93-1171.

    Source: Committee

  6. 16 July 1974

    Passed

    Measure laid on table in House, S. 3679 passed in lieu.

    Source: Floor

  7. 16 July 1974

    Vote

    Measure passed House, amended, roll call #383 (210-204).

    Source: Floor

  8. 16 July 1974

    Vote

    Passed/agreed to in House: Measure passed House, amended, roll call #383 (210-204).

    Source: Floor

Votes

No vote records are attached yet.

Versions

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

Documents

2 official files

Leesvertaling

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  • Reported to House with amendment(s)

    summary · EN · 2 July 1974

    Open at official source

  • Introduced in House

    summary · EN · 21 June 1974

    Open at official source

    Leesvertaling

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

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

Sponsors

Related records

Sources

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