S 2113
99th Congress
Senate
Agriculture and Food
Agricultural credit
Agricultural price supports
Agriculture and Rural Affairs
Farm Emergency Credit Act of 1986
Introduced: February 26, 1986
See on congress.gov
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 20, 1986
Committee on Agriculture requested executive comment from Agriculture Department.
Mar 20, 1986
Referred to Subcommittee on Agricultural Production.
Feb 26, 1986
Read twice and referred to the Committee on Agriculture.
Feb 26, 1986
Introduced in Senate
Plain-English summary
Farm Emergency Credit Act of 1986 - Amends the Agricultural Act of 1949 to direct the Secretary of Agriculture to make advance (recourse) price support loans available for 1986 to producers unable to secure sufficient credit elsewhere. Makes up to one-third of such crop eligible for advance payments. Permits loan conversion to nonrecourse status upon harvest and availability as loan collateral. Administers such program through the Commodity Credit Corporation and the local farmer committees.
Requires a participating producer to: (1) obtain crop insurance if available; and (2) use his crop as loan collateral.
Limits loans to any single person to $50,000.
What's happening now
Committee on Agriculture requested executive comment from Agriculture Department.
Committees of jurisdiction
2
Cosponsors
1