Agricultural Disaster Relief Act of 1980

Summary

Agricultural Disaster Relief Act of 1980 - Amends the Consolidated Farm and Rural Development Act to direct the Secretary of Agriculture to permit the deferral for at least one year of payments on loans administered by the Farmers Home Administration when circumstances beyond the borrower's control prevent making such payments without undue hardship. Authorizes the Secretary to implement a national moratorium on the repayment or foreclosure on loans made or held by the Secretary or under the provisions of any law administered by the Farmers Home Administration for up to three years if warranted by emergencies adversely affecting the agricultural economy. Requires the Secretary to implement a local moratorium on repayment or foreclosure for any county or area which has been declared a disaster area in 1980. Authorizes the Secretary to consolidate or reschedule such loans for payment. Sets forth the terms for such payment.

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1 official file

• Introduced in House

  summary · EN · 15 September 1980

  Open at official source

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