Beginning Farmer and Rancher Guaranteed Loan Modernization Act of 2016

Summary

Beginning Farmer and Rancher Guaranteed Loan Modernization Act of 2016 This bill amends the Agricultural Act of 1961 to revise the limits for the Department of Agriculture's (USDA's) conservation loan guarantee program. The bill replaces the existing 80% limit on the portion of a loan that USDA may guarantee with limits that range from 80%-90%, depending on the principal amount of the loan. For socially disadvantaged or beginning farmers or ranchers, the bill replaces the existing 90% limit with limits that range from 85%-95%, depending on the principal amount of the loan. USDA may not guarantee a loan under the program that exceeds $3.5 million.

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Timeline

1. 12 July 2016

   Introduced

   Referred to the House Committee on Agriculture.

   Source: IntroReferral

2. 12 July 2016

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 July 2016

   Introduced

   Introduced in House

   Source: IntroReferral

4. 30 August 2016

   Referred

   Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 12 July 2016 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 12 July 2016

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 12 July 2016

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 12 July 2016

  Open at official source

Sponsors

• Mike Bost · R · Sponsor
• Rodney Davis · R · Cosponsor
• · hsag00 · Standing

Related records

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