A resolution expressing the sense of the House of Representatives that any legislation that provides additional financial assistance to the Farm Credit System should enable the banks and associations of the System to make loans at lower interest rates, ensure the continued participation of borrowers in the System, and assist borrowers to repay their loans obtained from banks and associations of the System.

Summary

Expresses the sense of the House of Representatives that any Federal legislation enacted to increase financial assistance to the Farm Credit System (FCS) should: (1) enable FCS banks and associations to offer loans at lower interest rates than would be possible without the assistance; (2) ensure the continued participation of borrowers in the management and control of the FCS; (3) require FCS entities to reduce loan repayment obligations as necessary if the reduction is less costly than foreclosure or legal actions with respect to debtors unable to make payments; and (4) encourage FCS banks and associations to take part in State mediation programs conducted by independent arbitrators and to offer delinquent borrowers opportunities to restructure their loans.

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Timeline

1. 18 June 1987

   Introduced

   Referred to House Committee on Agriculture.

   Source: IntroReferral

2. 18 June 1987

   Introduced

   Introduced in House

   Source: IntroReferral

3. 18 June 1987

   Introduced

   Introduced in House

   Source: IntroReferral

4. 25 June 1987

   Referred

   Referred to Subcommittee on Conservation Credit and Rural Development.

   Source: Committee

5. 28 July 1987

   Committee

   See H.R.3030.

   Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in House

  summary · EN · 18 June 1987

  Open at official source

Sponsors

• Sen. Dorgan, Byron L. [D-ND] · D · Sponsor
• Sen. Johnson, Tim [D-SD] · D · Sponsor
• Rep. Penny, Timothy J. [D-MN-1] · D · Sponsor
• · hsag00 · Standing

Related records

• related to ← Agricultural Credit Act of 1987