Emergency Refinancing Disaster Relief Act

Summary

Emergency Refinancing Disaster Relief Act - Authorizes the Secretary of Agriculture to make loans to provide financial assistance to producers of agricultural commodities for the purpose of allowing them to repay natural disaster loans over a long period rather than facing the burden of providing vast amounts of agricultural products at a time when they are forced to pay off loans obtained as a result of a recent natural disaster which damaged or destroyed their operations. Requires the Secretary of Agriculture to make loans in any area designated by him or by the President as a major disaster area: (1) to qualifying farmers, ranchers, or oyster planters who are citizens of the United States; and (2) to eligible private domestic corporations or partnerships engaged primarily in farming, ranching, or oyster planting. Establishes a 6 percent interest rate on emergency agricultural loans. Removes the $500,000,000 limitation on loans made from the Agricultural Credit Insurance Fund for purposes of this Act.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in House

  summary · EN · 3 December 1974

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.