H.R. 2120 (100th): Farm Debt Restructuring Act of 1987

Apr 22, 1987 (100th Congress, 1987–1988)
Died (Referred to Committee)
Anthony Coelho
Representative for California's 15th congressional district
Related Bills
H.R. 3030 (Related)
Agricultural Credit Act of 1987

Signed by the President
Jan 06, 1988


This bill was introduced on April 22, 1987, in a previous session of Congress, but was not enacted.

Introduced Apr 22, 1987
Referred to Committee Apr 22, 1987
Full Title

A bill to direct the Secretary of Agriculture to provide Federal assistance payments on behalf of eligible farm borrowers who enter into debt restructuring agreements in amounts that will enable viable farming enterprises to remain in operation.


No summaries available.

4 cosponsors (4D) (show)

House Agriculture

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Primary Source

THOMAS.gov (The Library of Congress)

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H.R. stands for House of Representatives bill.

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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.

Farm Debt Restructuring Act of 1987 - Directs the Secretary of Agriculture to make assistance payments on behalf of eligible farmers who enter into qualified debt restructuring agreements.
Bases eligibility upon:
(1) farm ownership;
(2) farm loan indebtedness;
(3) farm income and sales; and
(4) gross farm income.
(1) a qualified debt restructuring agreement to provide for specified principal and interest reductions, and no loan origination fees or points; and
(2) the parties to consider loan extensions of at least five years.
Sets maximum annual payment amounts.
Provides for a three-year period of assistance.
Requires borrowers to fully reimburse the Secretary over five years, beginning five years (with a two-year postponement if necessary) after the first assistance payment has been made.
Amends the Food Security Act of 1985 to prohibit debt restructuring assistance under this Act to borrowers who produce commodities on erodible land or on converted wetlands.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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