S 388
99th Congress
Senate
Agriculture and Food
Agricultural credit
Agriculture and Rural Affairs
Federally-guaranteed loans
Finance and Financial Sector
Interest
Interest rates
Homestead Protection Act of 1985
Introduced: February 5, 1985
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 5, 1985
Read twice and referred to the Committee on Agriculture.
Feb 5, 1985
Introduced in Senate
Plain-English summary
Homestead Protection Act of 1985 - Amends the Consolidated Farm and Rural Development Act to direct the Secretary of Agriculture to establish an agricultural debt adjustment program which: (1) permits lenders to secure Federal guarantees (up to 90 percent) on loans in exchange for reduced interest rates on such loans; (2) permits farmers on a "break-even" basis to participate; (3) reduces the guarantee percentage over the loan's life; (4) provides for expedited loan processing; and (5) shall not consider such loans as "problem" loans.
What's happening now
Read twice and referred to the Committee on Agriculture.
Committees of jurisdiction
1
Cosponsors
1