A bill to amend the Consolidated Farm and Rural Development Act to establish a loan insurance program for cattlemen.
Latest action. Referred to House Committee on Agriculture.
Authorizes the Secretary of Agriculture, under the Consolidated Farm and Rural Development Act, to insure loans to borrowers who: (1) are citizens of the United States; (2) are or have been engaged in beef cattle producing operations; (3) are unable to obtain sufficient credit to finance actual needs in the beef cattle producing business at reasonable rates and terms; and (4) have, if having received previously a loan, performed successfully the terms of such loan. States that loans insured under this Act must be expended for the purpose of financing the normal operations of buying, raising, and selling beef cattle by the borrower whose loan is being insured. Sets forth the terms and conditions of such insured loans. Creates the Cattleman's Insurance Fund to be used by the Secretary as a revolving fund for the discharge of obligations under this Act. Empowers the Secretary to transfer assets from the Agricultural Credit Insurance Fund, to the fund if he determines that such transfer is necessary to establish the insurance program. Directs the Secretary to make and issue notes to the Secretary of the Treasury for the purpose of obtaining funds necessary for discharging obligations under this Act. Outlines the purposes for which the Secretary shall utilize the fund. Provides that the aggregate amount of the obligations insured under this Act and outstanding at any one time shall not exceed $3,000,000,000.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on May 29, 1974. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on May 29, 1974: Referred to House Committee on Agriculture.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 93rd Congress (1973-74), 651 of the 23,396 bills and joint resolutions introduced became law, about 2.8 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
ROBERT PRICE (R-TX) introduced it on May 29, 1974. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on May 29, 1974, 19097 days ago. The most recent recorded action was 19097 days ago, on May 29, 1974.
Measures do not carry over. Anything the 93rd Congress has not finished by January 3, 1975 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers