Emergency Livestock Credit Act
Latest action. Measure laid on table in House, S. 3679 passed in lieu.
(LATEST SUMMARY) Emergency Livestock Credit Act - Authorizes the Secretary of Agriculture to establish a guaranteed loan program for bona fide farmers and ranchers, including operators of feedlots, who are directly engaged in agricultural production for the purpose of breeding, raising, fattening, or marketing livestock (meaning beef cattle, dairy cattle, swine, sheep, goats, chickens, turkeys, and the products thereof). States that no contract guaranteeing any such loan by an approved lender shall require the Secretary to participate in more than 80 percent of any loss sustained thereon. Provides that loans guaranteed under this Act shall bear interest at a rate to be agreed upon by the lender and borrower. Sets forth conditions for such loan guarantees, including that: (1) the loan applicant is primarily engaged in agricultural production, and the financing to be furnished the farmer or rancher is to be used for purposes related to the breeding, raising, fattening, or marketing of livestock or livestock products; (2) the total loans guaranteed under this Act for any farmer or rancher shall not exceed $350,000; and (3) in the case of any loan to refinance the livestock operations of a farmer or rancher, the loan and refinancing are absolutely essential in order for the farmer or rancher to remain in business. Limits such loan guarantees outstanding under this Act to a maximum of $2,000,000,000 at any one time. Terminates the authority to make new guarantees under this Act one year from the date of enactment, except that the Secretary of Agriculture may extend such authority for a period not to exceed six months.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Reported to House with amendment(s)" stage on July 2, 1974. It describes the bill, it is not the legal text.
Measure laid on table in House, S. 3679 passed in lieu.
Civibrief does not map this action to a stage in the process. See the official record.
Where is it in the process, and what happens next?
The latest action on file does not map to a stage Civibrief recognizes, so the page will not name one. The record's own words are the reliable fact here.
The record's latest action, on July 16, 1974: Measure laid on table in House, S. 3679 passed in lieu.
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 has no outstanding steps 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?
WILLIAM POAGE (D-TX) introduced it on June 21, 1974, and 21 members have since signed on as cosponsors.
They come from both major parties: 13 Democrats, 8 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 21, 1974, 19074 days ago. The most recent recorded action was 19049 days ago, on July 16, 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
- HouseMeasure laid on table in House, S. 3679 passed in lieu.
- SenateNot stated in the latest action
- PresidentNot stated in the latest action