Amendment97th Congress
An amendment dealing with a safety net for farmers. The amendment provides that the Secretary of Agriculture may in times of economic distress in the agricultural sector defer payments of principal and interest and forego foreclosures on loans with respect to farm real estate, farm operating, emergency loans, and loans under the Emergency Agricultural Credit Adjustment Act of 1978. Economic distress is defined as forced liquidations and/or foreclosures of outstanding loans exceeding 2 percent of all outstanding loans made, insured or held by the Secretary.
- Amendment Number
- 362
- Description
- An amendment dealing with a safety net for farmers. The amendment provides that the Secretary of Agriculture may in times of economic distress in the agricultural sector defer payments of principal and interest and forego foreclosures on loans with respect to farm real estate, farm operating, emergency loans, and loans under the Emergency Agricultural Credit Adjustment Act of 1978. Economic distress is defined as forced liquidations and/or foreclosures of outstanding loans exceeding 2 percent of all outstanding loans made, insured or held by the Secretary.
- Purpose
- An amendment dealing with a safety net for farmers. The amendment provides that the Secretary of Agriculture may in times of economic distress in the agricultural sector defer payments of principal and interest and forego foreclosures on loans with respect to farm real estate, farm operating, emergency loans, and loans under the Emergency Agricultural Credit Adjustment Act of 1978. Economic distress is defined as forced liquidations and/or foreclosures of outstanding loans exceeding 2 percent of all outstanding loans made, insured or held by the Secretary.
- Congress
- 97
- Type
- HAMDT
- Latest Action Date
- Oct 22, 1981
- Latest Action Text
- Amendment Failed of Passage in Committee of Whole by Division Vote: 10 - 18.
- Submitted Date
- Oct 22, 1981
- Chamber
- House of Representatives
- Update Date
- Aug 14, 2021