Farm Credit Adjustment Act

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6564 Introduced in House (IH)]

<DOC>






118th CONGRESS
  1st Session
                                H. R. 6564

To allow the Farm Credit Administration the option to examine low-risk 
        Farm Credit System institutions under a 24-month cycle.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 1, 2023

 Ms. Spanberger (for herself and Mr. LaMalfa) introduced the following 
        bill; which was referred to the Committee on Agriculture

_______________________________________________________________________

                                 A BILL


 
To allow the Farm Credit Administration the option to examine low-risk 
        Farm Credit System institutions under a 24-month cycle.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Farm Credit Adjustment Act''.

SEC. 2. FARM CREDIT ADMINISTRATION OPTION TO EXAMINE LOW RISK FARM 
              CREDIT SYSTEM INSTITUTIONS ON A 24-MONTH CYCLE.

    (a) In General.--Section 5.19(a) of the Farm Credit Act of 1971 (12 
U.S.C. 2254(a)) is amended in the 1st sentence--
            (1) by striking ``in no event'' and inserting ``not''; and
            (2) by inserting ``, except that the Farm Credit 
        Administration, in its sole discretion, may extend the time 
        period between mandatory examinations of institutions deemed by 
        the Farm Credit Administration to be low-risk institutions to 
        not more than 24 months'' before the period.
    (b) Effective Date.--The amendments made by subsection (a) shall 
take effect on October 1, 2024.
                                 <all>