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S 2899 99th Congress Senate Agriculture and Food Agricultural credit Agriculture and Rural Affairs American economic assistance Corporations and Stocks Executive reorganization Export-Import Bank of the United States Exports Farm Credit Administration Finance and Financial Sector Foreign Trade and Investments Government Operations and Politics Government corporations Government paperwork Interest Interest rates International Affairs International banking Lawyers and legal services Legal Services Corporation

Farm Credit System Interest Reduction Act of 1986

Introduced: October 1, 1986 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 1, 1986
Read twice and referred to the Committee on Agriculture.
Oct 1, 1986
Introduced in Senate
 Plain-English summary Congressional Research Service

Farm Credit System Interest Reduction Act of 1986 - Title I: Farm Credit Assistance and Interest Reduction - Directs the Secretary of the Treasury to make loans to Farm Credit System (FCS) institutions to: (1) remove high-cost bonds from the FCS's portfolio; and (2) retire or restructure nonaccruing FCS-held loans.

Provides for borrower interest rate reductions.

Title II: Rights of Borrowers - Sets forth borrower rights relating to: (1) access to files and related information; (2) bank mergers; (3) district board election; and (4) financial disclosure by FCS officials.

Directs the Comptroller General to conduct a feasibility study regarding the return of the FCS to local control.

Title III: Independent Interest Rate-Setting Authority - Repeals Farm Credit Administration rate-setting authority.

Title IV: Funding for Farm Credit Assistance - Repeals: (1) the Legal Services Corporation Act; and (2) the Export-Import Bank Act of 1945.

Withholds from obligation and expenditure specified funds from the Foreign Assistance Act of 1961 relating to: (1) population planning; (2) voluntary United Nations contributions; and (3) foreign aid to non-Camp David countries.

What's happening now October 1, 1986

Read twice and referred to the Committee on Agriculture.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1