A bill to amend the Agricultural Act of 2014 to require the Secretary of Agriculture to extend the term of marketing assistance loans in cases in which a purchaser has bought the loan commodity subject to the loan and declared bankruptcy prior to paying for the loan commodity.
Farmer Flexibility Act of 2014 - Amends the Agricultural Act of 2014 to require the Secretary of Agriculture (USDA) to extend the terms of marketing assistance loans in cases where a farmer has sold, transferred, or delivered the commodity subject to the loan to a purchaser who has filed for bankruptcy prior to payment. Provides that the extension shall last until after the bankruptcy case is closed or dismissed. Suspends the accrual of interest on the loan during the extension period.
Referred to the Subcommittee on General Farm Commodities and Risk Management.
Introduced in Senate
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
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