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

Jun 24, 1986 (99th Congress, 1985–1986)
Died (Referred to Committee)
James Abdnor
Senator from South Dakota
Related Bills
H.R. 4853 (identical)

Referred to Committee
Last Action: May 20, 1986


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

Introduced Jun 24, 1986
Referred to Committee Jun 24, 1986
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.


No summaries available.

3 cosponsors (3R) (show)

Senate Agriculture, Nutrition, and Forestry

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Primary Source

THOMAS.gov (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.

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

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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