S.4354 - A bill to require the Secretary of Agriculture to make recourse loans available to commercial processors of dairy products during the COVID-19 pandemic, and for other purposes.116th Congress (2019-2020) |
|Sponsor:||Sen. Smith, Tina [D-MN] (Introduced 07/29/2020)|
|Committees:||Senate - Agriculture, Nutrition, and Forestry|
|Latest Action:||Senate - 07/29/2020 Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.4354 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (07/29/2020)
This bill requires the Department of Agriculture to make recourse loans available to commercial processors, packagers, or merchandisers of dairy products during the COVID-19 (i.e., coronavirus disease 2019) pandemic.
The bill also provides funding for the loans and specifies that loans shall be provided to applicants for up to the value of the dairy product inventory of such applicants.
Dairy product inventory used as collateral for the recourse loan program shall be pledged on a rotating basis to prevent spoilage of perishable products.