H.R.1335 - Family Farm Emergency Credit Assistance Act of 198398th Congress (1983-1984)
|Sponsor:||Rep. Hansen, George V. [R-ID-2] (Introduced 02/08/1983)|
|Committees:||House - Agriculture|
|Latest Action:||House - 02/15/1983 Referred to Subcommittee on Conservation Credit and Rural Development. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1335 — 98th Congress (1983-1984)All Information (Except Text)
Introduced in House (02/08/1983)
Family Farm Emergency Credit Assistance Act of 1983 - Amends the Consolidated Farm and Rural Development Act to permit family farmers to request economic hardship loan repayment and foreclosure deferrals through December 31, 1983. Requires a showing of: (1) good management; (2) temporary inability to repay because of circumstances beyond one's control; and (3) reasonable chance of repayment.
Provides for loan consolidation and rescheduling at the end of such deferral period.
Requires the Secretary of Agriculture to provide notification to Farmers Home Administration borrowers regarding such deferral and rescheduling programs.
Prohibits deferred or rescheduled loan interest rates in excess of the original interest rates.
Requires the Governor of the Farm Credit Administration to submit recommendations to the appropriate congressional committees on how the Federal land banks and the Federal intermediate credit banks could implement a similar family farm credit assistance program.