Emergency Agricultural Credit Act of 1983

Summary

Emergency Agricultural Credit Act of 1983 - Amends the Consolidated Farm and Rural Development Act to permit family farmers to request economic hardship loan repayment and foreclosure deferrals through FY 1983. Provides for loan consolidation and rescheduling at the end of such deferral period. Directs the Secretary of Agriculture to provide notification to Farmers Home Administration (FmHA) borrowers regarding such deferral and rescheduling programs. Prohibits deferred or rescheduled loan interest rates from exceeding original rates. Raises limits on individual aggregate guaranteed and insured operating loans. Authorizes specified amounts for FY 1983 operating loans. Sets aside a specified portion for new borrowers. Requires that at least 20 percent of FY 1983 farm ownership and operating loans be for limited-resource farmers. Requires the Secretary to notify all farmers about such program. Amends the Emergency Agricultural Credit Adjustment Act of 1978 to require the Secretary to make economic emergency loans (currently the Secretary is authorized to make such loans, but not required). Authorizes additional amounts in loan guarantees for such program.

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

Timeline

1. 26 January 1983

   Introduced

   Read twice and referred to the Committee on Agriculture.

   Source: IntroReferral

2. 26 January 1983

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 28 February 1983

   Referred

   Referred to Subcommittee on Agricultural Credit.

   Source: Committee

4. 3 March 1983

   Reported

   Committee on Agriculture. Ordered to be reported with an amendment in the nature of a substitute favorably.

   Source: Committee

5. 14 March 1983

   Committee

   Committee on Agriculture received executive comment from Agriculture Department. Unfavorable.

   Source: Committee

6. 18 March 1983

   Calendars

   Placed on Senate Legislative Calendar under Regular Orders. Calendar No. 57.

   Source: Calendars

7. 18 March 1983

   Reported

   Committee on Agriculture. Reported to Senate by Senator Helms with an amendment in the nature of a substitute. With written report No. 98-28.

   Source: Committee

8. 18 March 1983

   Reported

   Committee on Agriculture. Reported to Senate by Senator Helms with an amendment in the nature of a substitute. With written report No. 98-28.

   Source: Committee

9. 23 March 1983

   Reported

   Subcommittee on Agricultural Credit. Hearings held after full committee reported to Senate. Hearings printed: S.Hrg. 98-135.

   Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

2 official files

• Reported to Senate with amendment(s)

  summary · EN · 18 March 1983

  Open at official source

• Introduced in Senate

  summary · EN · 26 January 1983

  Open at official source

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Sponsors

• Sen. Huddleston, Walter (Dee) [D-KY] · D · Sponsor
• Sen. Boren, David L. [D-OK] · D · Sponsor
• Sen. Zorinsky, Edward [D-NE] · D · Sponsor
• Sen. Pryor, David H. [D-AR] · D · Sponsor
• Sen. Heflin, Howell [D-AL] · D · Sponsor
• Sen. Baucus, Max [D-MT] · D · Sponsor
• Sen. Bumpers, Dale [D-AR] · D · Sponsor
• Sen. DeConcini, Dennis [D-AZ] · D · Sponsor
• Sen. Exon, J. James [D-NE] · D · Sponsor
• Sen. Glenn, John H., Jr. [D-OH] · D · Sponsor
• Sen. Nunn, Sam [D-GA] · D · Sponsor
• Sen. Riegle, Donald W., Jr. [D-MI] · D · Sponsor
• Sen. Kennedy, Edward M. [D-MA] · D · Sponsor
• Sen. Bentsen, Lloyd M. [D-TX] · D · Sponsor
• Sen. Levin, Carl [D-MI] · D · Sponsor
• Sen. Burdick, Quentin N. [D-ND] · D · Sponsor
• Sen. Metzenbaum, Howard M. [D-OH] · D · Cosponsor
• Sen. Dixon, Alan J. [D-IL] · D · Cosponsor
• Sen. Melcher, John [D-MT] · D · Cosponsor
• Sen. Andrews, Mark [R-ND] · R · Cosponsor
• Sen. Sasser, Jim [D-TN] · D · Cosponsor
• Sen. Randolph, Jennings [D-WV] · D · Cosponsor
• Sen. Cochran, Thad [R-MS] · R · Cosponsor
• Sen. Leahy, Patrick J. [D-VT] · D · Cosponsor
• Sen. Hart, Gary W. [D-CO] · D · Cosponsor
• Sen. Hollings, Ernest F. [D-SC] · D · Cosponsor
• Sen. Mitchell, George J. [D-ME] · D · Cosponsor
• · ssaf00 · Standing

Related records

• amends ← To require the Secretary of Agriculture to make and insure loans to certain farm supply businesses which have been adversely affected by the payment-in-kind program.
• amends ← To amend the Consolidated Farm and Rural Development Act to require the Secretary of Agriculture to make and insure loans to certain farm supply businesses which have been adversely affected by the payment-in-kind program.