An original bill to extend the economic emergency loan program for farmers and provide for loan deferrals for borrowers of farm loans from the Farmers Home Administration, and for other purposes.

Summary

Amends the Emergency Agricultural Credit Adjustment Act of 1978 to require (currently authorizes) the Secretary of Agriculture to make economic emergency loans. Extends such program through FY 1983. Lowers the limit on individual loans: (1) from $400,000 to $200,000 under such Act; and (2) from $650,000 to $450,000 under such Act and the Consolidated Farm and Rural Development Act combined. Amends the Consolidated Farm and Rural Development Act to permit family farmers to request economic hardship loan repayment and foreclosure deferrals until September 30, 1983. Requires the Secretary to: (1) make loan consolidation or rescheduling available at the end of such period; and (2) notify borrowers of such deferral program. States that the interest rate on any rescheduled loan shall not exceed the interest rate on the original loan.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in Senate

  summary · EN · 27 September 1982

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.