H.R. 6129 · 102nd Congress · enacted
Agricultural Credit Improvement Act of 1992
Became Public Law No: 102-554.
Latest official action 1992-10-28 · Enacted
The bill, briefly
Agricultural Credit Improvement Act of 1992 - Amends the Consolidated Farm and Rural Development Act to state that the interest rate for loans sold into the secondary market may be lower than the interest rate on the retained portion, but may not exceed the average interest rate charged by the lender on loans made to farm and ranch borrowers. Provides for Federal-State coordination of assistance for beginning farmers and ranchers. Directs the Secretary of Agriculture (Secretary) to establish an Advisory Committee on Beginning Farmers and Ranchers. Authorizes the Secretary to make grants for rural passenger transportation services or facilities. Directs the Secretary to establish within the farm ownership loan program a ten-year down payment loan program for beginning farmers and ranchers. Sets forth loan terms. Limits the availability of certain agricultural loans and guarantees to beginning farmers and ranchers during specified applicable periods. Directs the Secretary to establish a program of assistance (ten-year maximum) for beginning farmers and ranchers. Requires an applicant to submit a farm operations plan (plan) to the appropriate county committee, which must be approved by the committee and by the Secretary. Provides assistance in the form of operating and equipment loan guarantees. Gives applicants priority for equipment purchases in the Farmers Home Administration…
Congressional Research Service · 1992-10-03
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Amount spent specifically on this bill: not disclosed
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Politicians behind the bill
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PAC donors to the listed sponsors
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What happened after enactment?
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