A bill to amend the Consolidated Farm and Rural Development Act to provide that emergency loans not to exceed $5,000 may be made and insured under such Act on the basis of estimated losses caused by disasters.

referredUnited States· United States Congress· EN

Introduced

6 January 1983

Last action

—

Status

Referred to Subcommittee on Conservation Credit and Rural Development.

Summary

Amends the Consolidated Farm and Rural Development Act to permit emergency disaster loans of up to $5,000 to be made and insured on the basis of estimated losses. Limits interest rates on such loans to a maximum of five percent. Allows an increase in such rates to prevailing market rates if actual disaster losses fall short of estimated losses after a loan is made or guaranteed. Requires cancellation of a loan guarantee in such an event.

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Documents

1 official file

Introduced in House
summary · EN · 6 January 1983
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/98th-congress/house-bill/589
Open data entity: https://api.congress.gov/v3/bill/98/hr/589