H.R. 5733 · 114th Congress
Beginning Farmer and Rancher Guaranteed Loan Modernization Act of 2016
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BostSponsor1 cosponsor · 1 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Beginning Farmer and Rancher Guaranteed Loan Modernization Act of 2016
What it does: CRS summary · Introduced in House · Jul 12, 2016
Beginning Farmer and Rancher Guaranteed Loan Modernization Act of 2016
This bill amends the Agricultural Act of 1961 to revise the limits for the Department of Agriculture's (USDA's) conservation loan guarantee program.
The bill replaces the existing 80% limit on the portion of a loan that USDA may guarantee with limits that range from 80%-90%, depending on the principal amount of the loan. For socially disadvantaged or beginning farmers or ranchers, the bill replaces the existing 90% limit with limits that range from 85%-95%, depending on the principal amount of the loan.
USDA may not guarantee a loan under the program that exceeds $3.5 million.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Beginning Farmer and Rancher Guaranteed Loan Modernization Act of 2016
Latest action (Aug 30, 2016): Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Policy area: Agriculture and Food · Origin: House · Introduced: Jul 12, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.