Family Farm Reorganization Act

Family Farm Reorganization Act - Amends Federal bankruptcy provisions to establish separate provisions governing family farm reorganizations.

Defines a "debtor" as an individual farmer, not a corporation or partnership, engaged in a farming operation.

Entitles the Department of Agriculture, the Attorney General, or the chief officer of the appropriate State agency to be heard in a farm reorganization case. Permits the court to appoint a committee of unsecured creditors consisting of persons willing to serve who hold the five largest claims against the debtor. Allows the committee: (1) to appoint an accountant only if the debtor's debts exceed $5,000,000 or if the debtor's financial records are inadequate; and (2) request dismissal of the case if there is no possibility of a feasible plan being accepted or if the debtor fails to comply with final court orders.

Permits the court to authorize the obtaining of credit for emergency care of the debtor's stock without notice or a hearing if: (1) irreparable loss or damage will result if such authorization is delayed; and (2) such authorization is in the best interests of the estate.

Authorizes only the debtor to file a reorganization plan. Permits the court, on its own motion or upon the motion of a party in interest and after notice and a hearing, to fix a date for filing the plan. Prohibits a plan from providing for a merger or consolidation or for the transfer or sale of the debtor's property unless the plan is proposed or consented to by the debtor. Sets forth restricted standards for court confirmation of the plan, including the standard that the plan is feasible and in the best interest of the creditors.

Authorizes the court, on its own motion or on the motion of a party in interest, to dismiss a reorganization case after notifying the debtor, debtor's counsel, and parties in interest and conducting a hearing, if: (1) the plan is not proposed in the manner and within the time fixed by the court; or (2) the plan is not confirmed or is withdrawn before being confirmed. Prohibits the court from converting the case to a case under liquidation provisions except at the debtor's request.