H.R. 1217 (99th): Farm Credit Private Control Restoration Act of 1985

Introduced:
Feb 21, 1985 (99th Congress, 1985–1986)
Status:
Died (Referred to Committee)
Sponsor
Sam Hall Jr.
Representative for Texas's 1st congressional district
Party
Democrat
 
Status

This bill was introduced on February 21, 1985, in a previous session of Congress, but was not enacted.

Progress
Introduced Feb 21, 1985
Referred to Committee Feb 21, 1985
 
Full Title

A bill to amend the Farm Credit Act of 1971 to achieve greater efficiency and fiscal responsibility by providing that the boards of directors of Federal land banks, of Federal intermediate credit banks, and of district banks for cooperatives shall be elected separately; to increase the independence of such banks in exercising their respective powers; and for other purposes.

Summary

No summaries available.

Cosponsors
16 cosponsors (8R, 8D) (show)
Committees

House Agriculture

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.


2/21/1985--Introduced.
Farm Credit Private Control Restoration Act of 1985 - Amends the Farm Credit Act of 1971 to provide that each Federal land bank, Federal intermediate credit bank, and district bank for cooperatives shall have a separate board of directors.
Sets forth the composition of such boards.
Provides that the eligibility requirements, terms, and compensation of directors and the election of officers by the directors shall be the same as provided for farm credit district boards.
Authorizes the Farm Credit Administration to modify the charters or organization certificates of such banks only as necessary for compliance with such Act. Restricts the Administration's authority over the salaries of bank employees and chief executive officers.
Prohibits Administration regulations from preventing such banks from exercising any powers granted under Federal statute.
Increases:
(1) by four the number of members of the board of directors of each farm credit district; and
(2) by one the number of such directors appointed by the Governor of the Administration and the number of directors elected by the Federal land bank associations, the production credit associations, and the borrowers from, or subscribers to, the guaranty fund of the bank for cooperatives for the district.
Limits the powers of such district boards to:
(1) coordinating joint undertakings and joint properties of the district banks;
(2) advising the boards of district banks on coordination of policies; and
(3) formulating broad policies concerning the funding operations of the district banks and furnishing long-range policy guidelines for funding the Farm Credit System. Sets forth transitional provisions.

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.

House Democratic Caucus Summary

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