Livestock Producers Act of 1980

Summary

Livestock Producers Act of 1980 - Authorizes the Secretary of Agriculture to guarantee loans to individuals for the establishment and operation of livestock production facilities. Directs the Secretary to establish eligibility criteria which include the requirement that any such individual be or intend to be primarily and directly engaged in livestock production and be unable to obtain sufficient credit without such guarantee. Sets forth the terms and conditions of such loan guarantees, including the furnishing of cost information on the application and repayment according to either a variable repayment program or a specified schedule. Limits the period of such guarantee to 14 years. Limits the cumulative total of the original principal of new loans guaranteed for each fiscal year. Establishes in the Treasury a revolving fund called the Livestock Producer Loan Guarantee Fund to be available to the Secretary to carry out the purposes of this Act.

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1 official file

• Introduced in House

  summary · EN · 1 October 1980

  Open at official source

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