A bill to amend the Consolidated Farm and Rural Development Act to reduce the interest rate payable on certain disaster emergency loans made and insured under such Act.

openUnited States· United States Congress· EN

Introduced

28 September 1982

Last action

—

Status

Committee on Agriculture requested executive comment from Department of Agriculture.

Summary

Amends the Consolidated Farm and Rural Development Act to reduce interest rate limits on certain emergency disaster loans made or insured after September 30, 1981: (1) from eight percent to five percent, where the loan applicant cannot obtain sufficient credit elsewhere; and (2) from the prevailing private market rate to the current average market yield on certain U.S. Treasury obligations (plus a one percent additional charge), where the applicant can obtain such credit elsewhere.

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Documents

1 official file

Introduced in Senate
summary · EN · 28 September 1982
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/97th-congress/senate-bill/2962
Open data entity: https://api.congress.gov/v3/bill/97/s/2962