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S. 2552: Farm Service Agency Loan Flexibility Act

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Mar 14, 2018.


Farm Service Agency Loan Flexibility Act

This bill amends the Consolidated Farm and Rural Development Act to authorize the Department of Agriculture (USDA) to make or guarantee certain farm loans that exceed the aggregate principal amount authorized for the year by up to 25% if the need for loans exceeds the authorized limit.

For any year in which USDA uses the authority provided by this bill, USDA may use funds from the Commodity Credit Corporation that are equal to the difference between: (1) the cost of making or guaranteeing the farm loans for that year, and (2) the appropriations provided for the loans for that year.