S.2552 - Farm Service Agency Loan Flexibility Act115th Congress (2017-2018)
|Sponsor:||Sen. Peters, Gary C. [D-MI] (Introduced 03/14/2018)|
|Committees:||Senate - Agriculture, Nutrition, and Forestry|
|Latest Action:||Senate - 03/14/2018 Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (All Actions)|
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Summary: S.2552 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (03/14/2018)
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.