Directs the Secretary of Agriculture to make loans through the Agricultural Credit Insurance Fund to agricultural producers in the United States who sustain losses incurred on or after January 1, 1973 as a direct result of contamination of their food crops, animal feedcrops, livestock (including poultry), or livestock products by toxic chemicals at levels dangerous to the public health or at such levels that the Secretary determines that the contamination has adversely affected the economic viability of the farming operation.
Sets a maximum loan amount of $250,000, a term of seven years, and leaves the interest rate to the Secretary's discretion, not to exceed three percent. Requires repayment of the loan up to the amount of the compensation within three months of the receipt of any compensation for losses for which the loan was made. Permits the Secretary to postpone all but a nominal amount of principal and interest payments for up to three years.
Introduced in House
Introduced in House
Referred to House Committee on Agriculture.
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