A bill to provide emergency operating credit for farmers and ranchers.
Emergency Farm Operating Credit Assistance Act of 1985 - Amends the Agricultural Act of 1949 to make advance price support recourse loans available for 1985 for producers participating in the 1985 farm program. Makes up to 50 percent of such crop eligible for advance payments. Permits loan conversion to nonrecourse status upon harvest and availability as loan collateral. Directs the Secretary to administer such program through the Commodity Credit Corporation and the local farmer committees.
Referred to Subcommittee on Conservation Credit and Rural Development.
Introduced in Senate
Read twice and referred to the Committee on Agriculture.
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