S. 2589 (99th): Farm Mortgage Guarantee Act of 1986

Introduced:
Jun 24, 1986 (99th Congress, 1985–1986)
Sponsor:
Sen. James Abdnor [R-SD]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on June 24, 1986, in a previous session of Congress, but was not enacted.

Progress
Introduced Jun 24, 1986
Referred to Committee Jun 24, 1986
Cosponsors
3 cosponsors (3R) (show)
Committees

Senate Agriculture, Nutrition, and Forestry

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

Full Title

A bill to create a secondary market for sound mortgages secured by farm real estate and guaranteed by the Farmers Home Administration, and for other purposes.

Summary

No summaries available.

Text

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Primary Source

View on THOMAS (The Library of Congress)

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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.

6/24/1986--Introduced.
Farm Mortgage Guarantee Act of 1986 - Amends the Consolidated Farm and Rural Development Act to authorize the Secretary of Agriculture to purchase or repurchase specified farm real estate loans.
Directs the Secretary to guarantee such loans on terms that will assure them of an adequate secondary market.
Authorizes the Secretary to similarly guarantee farm real estate loans held by the Farmers Home Administration (FmHA) or other qualifying institution.
Authorizes the Secretary to offer for sale such guaranteed FmHA-held loans.
Establishes: the
(1) Farm Mortgage Revolving Fund; and
(2) the Farm Real Estate Insurance Fund. Terminates loan guarantee authority under this Act as of December 31, 1991.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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