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S 776 99th Congress Senate Agriculture and Food Agricultural credit Agricultural price supports Agriculture and Rural Affairs

Farm Emergency Credit Act of 1985

Introduced: March 28, 1985 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 15, 1985
Read the second time and placed on the Calendar. General Orders. Calendar No. 79.
Mar 28, 1985
Placed on Senate Legislative Calendar under Read the First Time.
Mar 28, 1985
Introduced in the Senate, read the first time.
Mar 28, 1985
Introduced in Senate
 Plain-English summary Congressional Research Service

Farm Emergency Credit Act of 1985 - Amends the Agricultural Act of 1949 to direct the Secretary of Agriculture to make advance (recourse) price support loans available for 1985 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 $30,000.

Directs the Secretary to take immediate steps to make personnel and other Department of Agriculture resources available to improve the administration of such program.

What's happening now April 15, 1985

Read the second time and placed on the Calendar. General Orders. Calendar No. 79.

 Cosponsors 1
All 1 Republican 1