Livestock Producers and Feeders Act
Latest action. Referred to House Committee on Agriculture.
Livestock Producers and Feeders Act - Directs that, for a period of one year from the enactment of this Act, the Secretary of Agriculture shall insure loans made by a lender other than the United States, or made by the Secretary and sold to such lender, to a borrower in the United States who (1) is a citizen of the United States; (2) is or has been engaged in livestock producing and feeding operations to an extent and in a manner determined by the Secretary as necessary to assure reasonable prospects of success in livestock producing endeavors financed by loans insured under this Act; (3) is unable to obtain sufficient credit to finance his actual needs in the livestock producing business at reasonable rates and terms, as determined by the Secretary after considering prevailing private and cooperative rates and terms in the community in or near which the applicant resides for loans for similar purposes and periods of time; (4) has, if he has received previously a loan insured under this Act, performed successfully the terms of such loan; and (5) is not an operator of a commercial feedlot. Stipulates that, subject to the approval to the county committee, the amount of any loan isured under this Act shall be determined by the lender, but in no case shall such amount exceed $250,000. Sets forth requirements pertaining to the insurance of loans and to the rate of interest payments to be made. Establishes the Livestock Feeders Insurance Fund, which shall be used by the Secretary as a revolving fund for the discharge of obligations of the Secretary under the provisions of this Act. Directs the Secretary to utilize the fund: (1) to make loans which can be insured under this Act whenever he has reasonable assurance that they can be sold without undue delay, and he may sell and insure such loans; (2) to pay amounts to which the holder of insured notes is entitled on loans accruing between the date of any payments by the borrower and the date of transmittal of any such payments to the holder; and/or (3) to pay to the holder of insured notes any defaulted installment, or upon assignment of the note to the Secretary at the Secretary's request, the entire balance due on the loan.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on June 20, 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 June 20, 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?
WILEY MAYNE (R-IA) introduced it on June 20, 1974, and 23 members have since signed on as cosponsors.
They come from both major parties: 11 Democrats, 12 Republicans.
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 June 20, 1974, 19075 days ago. The most recent recorded action was 19075 days ago, on June 20, 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