A bill to amend the Farm Credit Act of 1971 to encourage institutions of the farm credit system to renegotiate problem loans and to permit those institutions to treat portions of those renegotiated loans as assets for a period of time.
Farm Credit Debt Restructuring Act of 1985 - Amends the Farm Credit Act of 1971 to permit Farm Credit System (FCS) institutions to: (1) renegotiate certain real estate-secured loans; and (2) treat a specified portion of such a loan as a loss over a period of time up to 20 years. Requires the institution to forgive the borrower an amount (not to exceed 50 percent cumulative) equal to the amount treated as a loss.
Authorizes the FCS to pay an institution one-half of the imputed interest on the portion of the loan being treated as a loss.
Prohibits such renegotiations after December 31, 1990.
House Incorporated this Measure in S.1884 as an Amendment.
Introduced in House
Introduced in House
Referred to House Committee on Agriculture.
Executive Comment Requested from USDA, Farm Credit Admin.
Referred to Subcommittee on Conservation Credit and Rural Development.
Unfavorable Executive Comment Received From Farm Credit Admin.
See H.R. 3792.
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