S.1949 - Drought Relief Act of 198398th Congress (1983-1984)
|Sponsor:||Sen. Huddleston, Walter (Dee) [D-KY] (Introduced 10/07/1983)|
|Committees:||Senate - Agriculture, Nutrition, and Forestry|
|Latest Action:||Senate - 10/07/1983 Read twice and referred to the Committee on Agriculture. (All Actions)|
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Summary: S.1949 — 98th Congress (1983-1984)All Information (Except Text)
Introduced in Senate (10/07/1983)
Drought Relief Act of 1983 - Amends the Consolidated Farm and Rural Development Act to permit farmers and ranchers to qualify for disaster assistance whether or not their counties have been designated as disaster areas.
Permits family farmers to request economic hardship loan repayment and foreclosure deferrals through FY 1984. Requires a showing of: (1) good management; (2) temporary inability to repay because of circumstances beyond one's control; (3) reasonable chance of repayment; and (4) no available loan-servicing alternatives.
Provides for loan consolidation and rescheduling at the end of such deferral period.
Requires the Secretary to notify borrowers regarding such deferral and rescheduling programs.
Requires deferred or rescheduled loan interest rates to be at the lower of either original or current rates.
Amends the Emergency Agricultural Credit Adjustment Act of 1978 to extend the economic emergency loan program through FY 1984. Gives preference to farmers affected by the 1983 drought. Limits interest rates to eight percent.
Amends the Consolidated Farm and Rural Development Act to increase insured and guaranteed operating loan limits. Extends the maximum payment period from seven to 15 years.
Requires that at least 20 percent of FY 1984 farm ownership and operating loans be for limited-resource farmers. Requires the Secretary to notify all farmers about such program.
Amends the Agricultural Act of 1949 to require the Secretary to make advance deficiency payments to 1984 wheat, feed grain, upland cotton, and rice producers.
Requires the Secretary to make low-grade Commodity Credit Corporation corn available (at 75 percent of the local loan rate) to poultry and livestock producers in areas affected by the 1983 drought.
Amends the Consolidated Farm and Rural Development Act to make emergency business loans available to small rural businesses in areas adversely affected by the drought or payment-in-kind program. Requires the Secretary to provide for a graduated scale of rural water and waste disposal grants based on income and population levels. Restricts the maximum rate to projects in communities with populations of 1500 or less and a median income level below 80 percent of the statewide nonmetropolitan median income level.
Directs the Secretary to establish a project selection system based on income, population, and health hazards due to lack of potable water or inadequate waste disposal.
Authorizes predevelopment grants and technical assistance.
Revises the standard for five percent loans from one based on the Federal poverty line to one based on the statewide nonmetropolitan median income level. Establishes a seven-percent loan for communities with median incomes of between 80 and 100 percent of such statewide income level.