S.2899 - Farm Credit System Interest Reduction Act of 198699th Congress (1985-1986)
|Sponsor:||Sen. Symms, Steven D. [R-ID] (Introduced 10/01/1986)|
|Committees:||Senate - Agriculture, Nutrition, and Forestry|
|Latest Action:||10/01/1986 Read twice and referred to the Committee on Agriculture.|
This bill has the status Introduced
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Summary: S.2899 — 99th Congress (1985-1986)All Bill Information (Except Text)
Introduced in Senate (10/01/1986)
Farm Credit System Interest Reduction Act of 1986 - Title I: Farm Credit Assistance and Interest Reduction - Directs the Secretary of the Treasury to make loans to Farm Credit System (FCS) institutions to: (1) remove high-cost bonds from the FCS's portfolio; and (2) retire or restructure nonaccruing FCS-held loans.
Provides for borrower interest rate reductions.
Title II: Rights of Borrowers - Sets forth borrower rights relating to: (1) access to files and related information; (2) bank mergers; (3) district board election; and (4) financial disclosure by FCS officials.
Directs the Comptroller General to conduct a feasibility study regarding the return of the FCS to local control.
Title III: Independent Interest Rate-Setting Authority - Repeals Farm Credit Administration rate-setting authority.
Title IV: Funding for Farm Credit Assistance - Repeals: (1) the Legal Services Corporation Act; and (2) the Export-Import Bank Act of 1945.
Withholds from obligation and expenditure specified funds from the Foreign Assistance Act of 1961 relating to: (1) population planning; (2) voluntary United Nations contributions; and (3) foreign aid to non-Camp David countries.