H.R. 2893 (102nd): Agricultural Credit, Rural Development, and Commodity Marketing Improvement Act of 1992

Introduced:
Jul 16, 1991 (102nd Congress, 1991–1992)
Status:
Died (Passed Senate with Changes)
Sponsor
Eligio “Kika” de la Garza
Representative for Texas's 15th congressional district
Party
Democrat
Related Bills
H.R. 2791 (Related)
To authorize emergency crop loss assistance for producers of 1991 crops of caneberries who ...

Referred to Committee
Last Action: Jun 26, 1991

H.R. 2536 (Related)
Disaster Assistance Act of 1991

Referred to Committee
Last Action: Jun 04, 1991

 
Status

This bill was introduced in a previous session of Congress and though it was passed by both chambers on October 7, 1992 it was passed in non-identical forms and the differences were never resolved.

Progress
Introduced Jul 16, 1991
Referred to Committee Jul 16, 1991
Reported by Committee Jul 18, 1991
Passed House Jul 25, 1991
Passed Senate with Changes Oct 07, 1992
 
Full Title

To extend to 1991 crops the disaster assistance provisions of the Food, Agriculture, Conservation, and Trade Act of 1990.

Summary

No summaries available.

Votes
On Motion to Suspend the Rules and Pass
Jul 25, 1991 10:28 a.m.
Passed 328/67

Cosponsors
2 cosponsors (1D, 1R) (show)
Committees

House Agriculture

Senate Agriculture, Nutrition, and Forestry

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

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

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.


10/7/1992--Passed Senate amended.
Agricultural Credit, Rural Development, and Commodity Marketing Improvement Act of 1992 -
Title I - Farm Credit Banks and Associations Safety and Soundness
Subtitle A - Improvements to Farm Credit System Safety and Soundness
Amends the Farm Credit Act of 1971 to set forth qualifications for Farm Credit Administration (FCA) board members.
Subtitle B - Farm Credit System Insurance Corporation
Makes the Farm Credit System Insurance Corporation (FCSIC) successor to the Farm Credit System (FCS) Assistance Board in the case of capital preservation agreements that certify certain banks as eligible to issue preferred stock to the Farm Credit System Assistance Corporation (Corporation). Requires the General Accounting Office to study and report to the Congress on:
(1) risk-based FCSIC premiums;
(2) possible Farm Credit System Insurance Fund (Fund) authority to assess associations directly;
(3) possible supplemental FCSIC insurance premiums;
(4) the benefits of consolidating district banks into regional banks;
(5) FCS institutions' overhead expenses; and
(6) potential savings if FCS institutions and FCA were required to comply with certain Government office standards.
Subtitle C - Repayment of Farm Credit System Debt Obligations
Amends the Farm Credit Act to require an institution terminating FCS status to pay to the Corporation the estimated present value of future principal otherwise required had it remained in the FCS. Recognizes any such amount as a Corporation claim against the estate of a liquidating bank.
States that the other banks' obligations shall not be reduced in anticipation of such recoveries, but only upon their receipt by the Corporation. Requires each institution to make annual payments to the Corporation to ensure debt repayment.
Requires each institution that issued preferred stock, beginning in 1992, to appropriate specified earnings into an account to fund such stock's retirement.
Requires each bank to:
(1) record as an expense the annual increase of its bond repayment obligation; and
(2) repay Treasury-paid interest on FCS obligations (through bank assessments).
Makes banks (currently institutions) primarily liable to repay certain Corporation interest and obligations.
Excludes banks in liquidation from such requirement.
Expands default provisions to include all bank obligations with respect to Corporation bond principal and interest, except certain preferred stock-related bonds.
Extends the Corporation termination date until two years after the last Corporation bond maturity date.
Subtitle D - Clarification of Certain Authorities
Amends the Agricultural Credit Act of 1987 to require the Federal Intermediate Credit Bank of Jackson (Bank) to merge with a Farm Credit Bank. States that:
(1) FCA merger approval shall be given only if the Bank merges in its entirety with a Farm Credit Bank;
(2) the Bank shall have limited operating authority and limited lending authority (lending authorities in Alabama, Louisiana, and Mississippi limited to pre-merger constituent bank's authorities); and
(3) the FCA shall order the merger of the Bank and the Farm Credit Bank of Texas if the Bank fails to negotiate a merger within a specified period of time.
Sets forth the long-term lending authority of the Farm Credit Bank of Texas with respect to Alabama, Louisiana, and Mississippi.
Subtitle E - Miscellaneous
Amends the Farm Credit Act to revise production credit association application of earnings requirements.
Limits a bank for cooperatives' loan risk participation authority.
Sets forth voting guidelines with respect to one director of each bank for cooperatives.
Expands bank for cooperatives' water and sewer lending authority.
Makes qualifying private agricultural entities eligible to borrow from a bank for cooperatives.
Repeals the tax-exempt guarantee prohibition.
Authorizes the FCA to approve competitive charters among FCS institutions.
Authorizes the FCSIC to examine FCS institutions (current authority is limited to FCS banks).
Provides for financial disclosure and conflict of interest reporting by FCS directors, officers, and employees.
Title II - Agricultural Credit Improvements
Amends the Consolidated Farm and Rural Development Act to state that the interest rate for loans sold into the secondary market may be lower than the interest rate on the retained portion, but may not exceed the average interest rate charged by the lender on loans made to farm and ranch borrowers.
Provides for Federal-State coordination of assistance for beginning farmers and ranchers.
Directs the Secretary of Agriculture (Secretary) to establish an Advisory Committee on Beginning Farmers and Ranchers. Authorizes the Secretary to make grants for rural passenger transportation services or facilities.
Directs the Secretary to establish within the farm ownership loan program a ten-year down payment loan program for beginning farmers and ranchers.
Sets forth loan terms.
Limits the availability of certain agricultural loans and guarantees to beginning farmers and ranchers during specified applicable periods.
Directs the Secretary to establish a program of assistance (ten-year maximum) for beginning farmers and ranchers.
Requires an applicant to submit a farm operations plan (plan) to the appropriate county committee, which must be approved by the committee and then by the Secretary. Provides assistance in the form of operation and equipment loan guarantees.
Gives applicants priority for equipment purchases in the Farmers Home Administration (FmHA) inventory.
Terminates assistance for avoidable failure to achieve plan goals.
Directs the Secretary to:
(1) establish a program to encourage borrowers with operating loans or guarantees to graduate to private commercial credit sources; and
(2) provide for the graduation of FmHA direct loan borrowers to FmHA guaranteed loans.
Extends:
(1) loan service program consideration under extraordinary circumstances; and
(2) the time period during which county committee loan eligibility certification remains in effect.
Sets forth provisions for processing farm operating loan applications.
Requires the Secretary to develop a simplified loan application for loans of $50,000 or less.
Authorizes the leasing or leasing-with-purchase-option of certain FmHA inventory land not otherwise suitable for sale.
Sets forth provisions regarding the transfer of Indian lands pledged as FmHA loan collateral, including properties containing a hazardous substance.
Sets forth debt service margin requirements, including establishment of a certified lenders program.
Defines "qualified beginning farmer or rancher" for assistance purposes.
Sets aside specified percentages of operating and ownership loan assistance for beginning farmers or ranchers.
Targets loans to members of groups subject to gender prejudice.
Requires loan recordkeeping by borrower's gender.
Amends the Agricultural Credit Act of 1987 to increase the Federal share available for State loan mediation programs.
Title III - Rural Electrification Administration Improvement Act of 1992
Rural Electrification Administration Improvement Act of 1992 - Amends the Rural Electrification Act of 1936 to revise discounted loan prepayment provisions to permit prepayment or sale of a loan that was advanced before May 1, 1992, or has been advanced for not less than two years at the lesser of:
(1) the loan's outstanding principal balance; or
(2) the loan's discounted present value.
Limits future loan eligibility for certain prepaying borrowers.
Amends the Food, Agriculture, Conservation, and Trade Act of 1990 to direct the Administrator of the Rural Electrification Administration to:
(1) encourage the development of consortia to provide health care or educational services through telecommunications in rural areas of a qualified local exchange carrier service area; and
(2) provide grants ($1.5 million maximum award, three-year maximum disbursement) for such purposes.
Title IV - Miscellaneous
Amends the United States Warehouse Act to permit all (Federal or State licensed) cotton warehouses to record specified cotton receipt information required by such Act in a central filing system or systems.
Deems such recording as establishing ownership under Federal or State law.
States that:
(1) a holder of an electronic cotton warehouse receipt shall be treated as being in possession of the warehouse receipt under Federal or State law; and
(2) such provision shall apply to electronic receipts from all (Federal or State licensed) warehouses.
Directs the Secretary to use specified funds to purchase, process, and distribute additional commodities for the emergency food assistance program.
Terminates such authority as of September 30, 1993.
Amends the Agricultural Adjustment Act, reenacted with amendments by the Agricultural Marketing Agreement Act of 1937, to provide for expedited action on marketing orders.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

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