Skip to content
PoliticalRepoPoliticalRepo

United States · Bill · HR

H.R. 661 (100th)

Farm Credit System Borrowers' Protection Act of 1987

openUnited States· United States Congress· EN

Introduced

21 January 1987

Last action

6 October 1987 · Committee

Status

See H.R.3030.

Sponsors

Rep. Lightfoot, Jim [R-IA-3], Rep. Conyers, John, Jr. [D-MI-13], Rep. Towns, Edolphus [D-NY-10], Rep. Sensenbrenner, F. James, Jr. [R-WI-5], Rep. Penny, Timothy J. [D-MN-1], Rep. Hayes, Charles A. [D-IL-1]

Subjects

Agriculture

Source updated

28 August 2025

Agriculture

Official sourceView documentsShare

Summary

Farm Credit System Borrowers' Protection Act of 1987 - Amends the Farm Credit Act of 1971 to provide that an eligible foreclosed Farm Credit System (System) borrower may retain occupancy (three to five years) of his or her homestead property (up to ten acres) for family maintenance purposes. Grants such borrower first right of refusal to reacquire the property at the end of such occupancy period. Prohibits the sale of System-held land if such sale will have a detrimental effect on land values in specified depressed farming areas. Requires offers to sell System-held land to be made through local real estate agents. Requires the leasing of such land to be on a competitive bid basis. Requires a System institution with individual shareholders to provide them with a copy of the bylaws and upon request a copy of the charter or articles of incorporation.

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

Timeline

  1. 21 January 1987

    Introduced

    Referred to House Committee on Agriculture.

    Source: IntroReferral

  2. 21 January 1987

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 21 January 1987

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 5 February 1987

    Referred

    Referred to Subcommittee on Conservation Credit and Rural Development.

    Source: Committee

  5. 6 October 1987

    Committee

    See H.R.3030.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

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

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.