A bill to amend the Farm Credit Act of 1971 to provide credit assistance to certain borrowers of loans by institutions of the Farm Credit System, and for other purposes.
Landowner Protection Act of 1986 - Amends the Farm Credit Act of 1971 to require a Farm Credit System institution to restructure, rather than foreclose, a loan to an eligible borrower if foreclosure costs equal or exceed restructuring costs.
Sets forth borrower appeals procedures.
Requires a program report to the Congress within 270 days. Terminates such program one year after enactment of this Act, or 90 days after submission of such report, whichever is later.
Introduced in Senate
Read twice and referred to the Committee on Agriculture.
Referred to Subcommittee on Agricultural Credit.
Committee on Agriculture requested executive comment from Agriculture Department, Farm Credit Administration.
Committee on Agriculture received executive comment from Farm Credit Administration. Unfavorable.
Committee on Agriculture received executive comment from Agriculture Department.
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