A bill amending subtitle C of the Consolidated Farm and Rural Development Act.
Credit Disaster Emergency Relief Act of 1985 - Amends the Consolidated Farm and Rural Development Act to direct the Secretary of Agriculture to establish a credit-disaster emergency loan program for family farmers and ranchers to: (1) refinance restructure existing loans; (2) reorganize operations on a more economically sound basis; (3) provide financing where lending institutions have ceased operating; and (4) purchase essential equipment and supplies.
Permits the Secretary to defer loan payments or foreclosure for up to five years.
Introduced in House
Introduced in House
Referred to House Committee on Agriculture.
Referred to Subcommittee on Conservation Credit and Rural Development.
Executive Comment Requested from USDA.
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