H.R.874 - Agricultural Credit Expansion Act112th Congress (2011-2012)
|Sponsor:||Rep. Owens, William L. [D-NY-23] (Introduced 03/02/2011)|
|Committees:||House - Agriculture|
|Latest Action:||03/09/2011 Referred to the Subcommittee on Department Operations, Oversight, and Credit.|
This bill has the status Introduced
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Summary: H.R.874 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in House (03/02/2011)
Agricultural Credit Expansion Act - Amends the Consolidated Farm and Rural Development Act to expand eligibility for Farm Service Agency operating loans, farm ownership loans, conservation loans, and emergency loans.
Deems specified embedded entities (an entity owned wholly or in part by another entity) eligible for farm ownership and operating loans.
Deems specified operating-only entities eligible for farm ownership loans.
Deems an entity that is an owner-operator or operator to meet the direct ownership loan requirement if it is owned in whole or in part by other entities and each individual that is an owner of the family farm involved has an ownership interest in each of the other entities.