Rural Equal Aid Act

Summary

Rural Equal Aid Act This bill requires the Department of Agriculture (USDA) to pay the principal, interest, and any associated fees owed on loans made under certain rural development loan programs for a six-month period. USDA must also encourage the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and state bank regulators to not require lenders to increase their reserves on account of receiving such payments made by USDA. USDA must waive statutory limits on maximum loan maturities for certain loan durations where the lender provides a deferral and extends the maturity of such loans and, when necessary to provide more time because of difficulties during the COVID-19 (i.e., coronavirus disease 2019) pandemic, extend lender site visit requirements.

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

Timeline

1. 11 August 2020

   Introduced

   Referred to the House Committee on Agriculture.

   Source: IntroReferral

2. 11 August 2020

   Introduced

   Introduced in House

   Source: IntroReferral

3. 11 August 2020

   Introduced

   Introduced in House

   Source: IntroReferral

4. 11 September 2020

   Referred

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

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 11 August 2020 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 11 August 2020

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 11 August 2020

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 11 August 2020

  Open at official source

Sponsors

• Cynthia Axne · D · Sponsor
• Scott Tipton · R · Sponsor
• Austin Scott · R · Sponsor
• Troy Balderson · R · Sponsor
• Sen. Blunt Rochester, Lisa [D-DE] · D · Sponsor
• Jared Golden · D · Sponsor
• · hsag00 · Standing

Related records

• related to → Rural Equal Aid Act of 2020