A bill to authorize the Secretary of Agriculture to guarantee loans made to producers for the purpose of constructing grain storage facilities on the farms of such producers.
Emergency Farm Grain Storage Facilities Construction Act - Directs the Secretary of Agriculture, through the Commodity Credit Corporation, to guarantee loans to wheat and feed grains producers for the construction of storage facilities. Provides for a guarantee with respect to 90 percent of the total construction cost, not to exceed $50,000. Sets a formula for determining the proper size of a storage facility for which a loan may be guaranteed under this Act. Sets the loan term at no more than ten years.
Introduced in Senate
Referred to Senate Committee on Agriculture and Forestry (Subsequently: Agriculture, Nutrition and Forestry).
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