A bill to amend section 331A of the Consolidated Farm and Rural Development Act to authorize the Secretary of Agriculture to forgo foreclosure of certain loans and to make an adjusted loan schedule available to the borrower providing for equitable repayment terms consistent with the borrower's prospective cash flow.

Summary

Amends the Consolidated Farm and Rural Development Act to permit family farmers to request the Secretary of Agriculture for foreclosure deferrals and loan rescheduling based on prospective cash flow. Requires a showing of: (1) good management; (2) temporary inability to repay because of circumstances beyond one's control; and (3) reasonable chance of repayment. Terminates such program on September 30, 1986.

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

Timeline

1. 3 October 1984

   Introduced

   Referred to House Committee on Agriculture.

   Source: IntroReferral

2. 3 October 1984

   Introduced

   Introduced in House

   Source: IntroReferral

3. 3 October 1984

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 3 October 1984

  Open at official source

Sponsors

• Rep. Volkmer, Harold L. [D-MO-9] · D · Sponsor
• · hsag00 · Standing

Related records

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