HR 7548 · 96th Congress · Agriculture and Food

Farm Credit Act Amendments of 1980

Introduced 1980-06-11· Sponsored by Rep. Jones, Ed [D-TN-7]· House

Bill Progress

Introduced
Committee
House Vote
4
Senate
5
Enacted
Latest: Measure laid on table in House, S. 1465 passed in lieu.(1980-11-19)

Plain Language Summary

[AI summary unavailable — showing source text] Farm Credit Act Amendments of 1980 - Title I: Federal Land Banks and Associations - Amends the Farm Credit Act of 1971 to authorize any Federal land bank, under the supervision of the Farm Credit Administration, to: (1) participate in loans with other Farm Credit System institutions (i.e., Federal land banks, Federal land bank associations, Federal intermediate credit banks, production credit associations, and banks for cooperatives); (2) participate in loans which the land banks are authorized to make with lenders which are not Farm Credit System institutions; (3) sell interests in loans to such lenders; (4) buy from and sell to Farm Credit System institutions interests in loans and in other financial assistance extended and nonvoting stock; (5) make other investments; (6) accept contributions to their capital from Federal land bank associations; (7) enter into agreements with other Farm Credit System institutions to share loan and other losses; (8) issue nonvoting stock to borrowers as a patronage refund; and (9) make or participate with other lenders in long-term real estate mortgage loans not exceeding 85 percent of the appraised value of the real estate security. Makes produce…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (20)

12 Democrats7 Republicans1 Independent