S.1592 - Agricultural Credit Expansion Act

A bill to amend the Consolidated Farm and Rural Development Act to expand eligibility for Farm Service Agency loans. view all titles (2)

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All Bill Titles

  • Official: A bill to amend the Consolidated Farm and Rural Development Act to expand eligibility for Farm Service Agency loans. as introduced.
  • Short: Agricultural Credit Expansion Act as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
09/20/11
 
 
 
 
 
 
 

Official Bill Text Comment on about 9 Pages

Sponsor

Senator

Kirsten Gillibrand

D-NY

No Co-Sponsors

Official Summary

9/21/2011--Introduced.Agricultural Credit Expansion Act - Amends the Consolidated Farm and Rural Development Act to expand eligibility for Farm Service Agency operating loans, farm ownership loans, conservation loans, and emergency loans. Deems specified embedded entities (an entity owned
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Official Summary

9/21/2011--Introduced.Agricultural Credit Expansion Act - Amends the Consolidated Farm and Rural Development Act to expand eligibility for Farm Service Agency operating loans, farm ownership loans, conservation loans, and emergency loans. Deems specified embedded entities (an entity owned wholly or in part by another entity) eligible for farm ownership and operating loans. Deems specified operating-only entities eligible for farm ownership loans. Directs the Secretary of Agriculture (USDA) to determine that an entity that is an owner-operator or operator meets the direct ownership loan requirement if it is owned in whole or in part by other entities and each individual that is an owner of the family farm involved has an ownership interest in each of the other entities. Permits direct loans to be used to refinance Farm Service Agency loans or guaranteed loans. Eliminates the 15-year limitation on the period operating loan borrowers are eligible for guaranteed assistance.

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Organizations Supporting S.1592

  • Farm Credit East

Organizations Opposing S.1592

  • None via MapLight at this time.
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