An act to extend the Emergency Agricultural Credit Adjustment Act of 1978, and for other purposes.
Latest action. public lawWhat a bill becomes when enacted, numbered by Congress and order of enactment: Public Law 119-4 is the 4th law of the 119th Congress.Read the full definition (opens a new tab) 96-220.
(Conference report filed in House, H. Rept. 96-854) Amends the Emergency Agricultural Credit Adjustment Act of 1978 to require as a prerequisite for a loan under such Act written indication of at least one declination of private credit for loans under $300,000 and two such declinations for loans over $300,000. Authorizes the Secretary of Agriculture to waive such requirement for loans under $300,000 upon determination that an undue burden would be placed on an applicant. Limits loans for refinancing indebtedness on farm or home real estate under such Act to real estate purchased by an applicant at least one year prior to the date of the loan application. Directs the Secretary to review insured loans under such Act three years after the loan is made and every two years thereafter to determine whether the borrower can obtain a loan at reasonable rates and terms for loans for similar purposes and periods of time from a production credit association, a Federal land bank, or other responsible cooperative or private credit source. Prohibits insured loans for more than $300,000 under such Act, unless the Secretary determines that the applicant cannot obtain from a private or cooperative lending agency a sufficient guaranteed loan under such Act. Raises from $4,000,000,000 to $6,000,000,000 the limit on the total principal balance outstanding at any time on loans insured or guaranteed under such Act. Extends the authority of the Secretary of Agriculture to make new contracts of insurance or guarantee under such Act until September 30, 1981. Directs the Secretary to conduct a comprehensive study, with specified inclusions, of the operation and effectiveness of the financial assistance program authorized under such Act and to report, with recommendations, to Congress. Requires that any such recommendations for extending the authority to insure and guarantee loans under such Act shall evaluate possible alternatives.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Conference report filed in House" stage on March 25, 1980. It describes the bill, it is not the legal text.
Public Law 96-220.
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The record's latest action, on March 30, 1980: Public Law 96-220.
How likely is it to become law?
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In the 96th Congress (1979-80), 613 of the 12,581 bills and joint resolutions introduced became law, about 4.9 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?
EDWARD ZORINSKY (D-NE) introduced it on February 6, 1980, and 18 members have since signed on as cosponsors.
They come from both major parties: 11 Democrats, 7 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 February 6, 1980, 17018 days ago. The most recent recorded action was 16965 days ago, on March 30, 1980.
Measures do not carry over. Anything the 96th Congress has not finished by January 3, 1981 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
- SenatePublic Law 96-220.
- HouseNot stated in the latest action
- PresidentNot stated in the latest action