A bill to amend subtitle C of the Consolidated Farm and Rural Development Act to reduce the rate of interest on emergency loans made under such subtitle, to increase the term of such loans.

[AI summary unavailable — showing source text] Reduces the rate of interest on emergency agricultural loans under the Consolidated Farm and Rural Development Act from five to one percent annually on the portion of a loan equal to the amount of the actual disaster loss, or $50,000, whichever is less. Sets the interest rate on any amount of a loan in excess of the actual disaster loss or in excess of $50,000 at five percent annually. Prohibits credit tests on any amount of a loan up to an amount equal to the actual disaster loss or $50,000; and limits, with a general exception, any loan made or insured under this Act to the amount of the actual disaster loss or $50,000, whichever is less. Increases the loan term to 20 years.…