Consolidated Agricultural Adjustment Loan Act of 1985

Summary

Consolidated Agricultural Adjustment Loan Act of 1985 - Amends the Consolidated Farm and Rural Development Act to consolidate ownership, operating, soil and water, limited resource, rural growth, recreation, and economic emergency agricultural loans into a single consolidated agricultural adjustment loan. Establishes aggregate insured and guaranteed loan limits at $500,000. Sets forth application and program provisions. Authorizes the Farmers Home Administration (FmHA) to make a separate home loan to a defaulting farmer whose loan was secured by such home. Sets a maximum repayment period of 25 years. States that borrowers shall not be required to provide more collateral than is necessary to secure a consolidated loan. Requires FmHA to hold foreclosed land in a five-year inventory, subject to redemption by the borrower.

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1 official file

• Introduced in Senate

  summary · EN · 7 February 1985

  Open at official source

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