H.R. 1983 (106th): Agricultural Credit Act of 1999

Introduced:
May 27, 1999 (106th Congress, 1999–2000)
Sponsor:
Rep. Eva Clayton [D-NC1]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as H.R. 2653 (107th) on Jul 26, 2001.

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on May 27, 1999, in a previous session of Congress, but was not enacted.

Progress
Introduced May 27, 1999
Cosponsors
10 cosponsors (9D, 1R) (show)
Committees

House Agriculture

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Consolidated Farm and Rural Development Act to improve the agricultural credit programs of the Department of Agriculture, and for other purposes.

Summary

No summaries available.

Text

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Last updated May 27, 1999.
6 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

5/27/1999--Introduced.
Agricultural Credit Act of 1999 - Amends the Consolidated Farm and Rural Development Act to exclude from "debt forgiveness": (1) loan rescheduling, consolidation, deferral, or reamortization; (2) a write-down due to natural disaster or family medical condition; or (3) a write-down as part of the resolution of a discrimination complaint against the Secretary of Agriculture.
Section 3 -
Increases the number of occasions of permitted loan or loan guarantee debt forgiveness per borrower from one to two. Includes as an exception to such limitation an operating loan or loan guarantee to an individual whose payments are current under a specified reorganization plan.
Section 4 -
Eliminates capital item replacement expenses in determinations of farmer program loan guarantee eligibility.
Section 5 -
Permits excess funds obligated for socially disadvantaged farmers to be reallocated for such use in another State (currently limited to intrastate reallocation).
Section 6 -
Permits direct operating loans and loan guarantees to be made to persons in areas: (1) affected by a natural disaster or designated emergency; or (2) determined to be suffering from an economic emergency.
Section 7 -
Revises (shared appreciation arrangement) recapture percentage provisions.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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