Farm Credit Partnership Act

[AI summary unavailable — showing source text] Title I: Short Title - Farm Credit Partnership Act. Title II: Definitions - Defines "borrower" for the purposes of this Act as being any individual, family corporation, or family partnership that makes at least 50 percent of its gross income from farming and holds an agricultural loan. Limits assistance for any borrower to $400,000 for an individual, and $600,000 for a family corporation or partnership. Lists the qualifications a borrower must demonstrate to receive such assistance. Directs the Secretary of Agriculture to establish a cooperative Federal- State-Lender Agricultural Loan Interest Subsidy Program. Allows a borrower to apply to a lender for an interest rate subsidy with respect to any agriculture loan outstanding on October 1, 1985. Provides that the interest rate for such loans shall be fixed for a period of three years at a rate equal to the rate of the borrower's loan as of December 1, 1985, less up to five percent subsidy. Provides that two percent of the subsidy shall be paid by the Federal government, one to two percent by the State, and one percent by the lender. Requires participating States to submit a plan by June 1, 1986, and March 1 of each year thereafter, …