Skip to main content
HR 1983 106th Congress House Agriculture and Food Agricultural credit Bankruptcy Capital investments Civil Rights and Liberties, Minority Issues Commerce Debtor and creditor Disaster relief Economics and Public Finance Emergency Management Families Family farms Farm income Farmers Federally-guaranteed loans Finance and Financial Sector Government lending Government liability Health Law

Agricultural Credit Act of 1999

Introduced: May 27, 1999 See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 14, 1999
Executive Comment Requested from USDA.
Jun 14, 1999
Referred to the Subcommittee on General Farm Commodities, Resource Conservation and Credit.
May 27, 1999
Referred to the House Committee on Agriculture.
May 27, 1999
Introduced in House
 Plain-English summary Congressional Research Service
Agricultural Credit Act of 1999 - Amends the Consolidated Farm and Rural Development Act to exclude from "debt forgiveness": (1) loan rescheduling, consolidation, deferral, or reamortization; (2) a write-down due to natural disaster or family medical condition; or (3) a write-down as part of the resolution of a discrimination complaint against the Secretary of Agriculture.

(Sec. 3) Increases the number of occasions of permitted loan or loan guarantee debt forgiveness per borrower from one to two. Includes as an exception to such limitation an operating loan or loan guarantee to an individual whose payments are current under a specified reorganization plan.

(Sec. 4) Eliminates capital item replacement expenses in determinations of farmer program loan guarantee eligibility.

(Sec. 5) Permits excess funds obligated for socially disadvantaged farmers to be reallocated for such use in another State (currently limited to intrastate reallocation).

(Sec. 6) Permits direct operating loans and loan guarantees to be made to persons in areas: (1) affected by a natural disaster or designated emergency; or (2) determined to be suffering from an economic emergency.

(Sec. 7) Revises (shared appreciation arrangement) recapture percentage provisions.

What's happening now June 14, 1999

Executive Comment Requested from USDA.

 Committees of jurisdiction 2
 Cosponsors 2
All 2 Democratic 2