3.0.0 805 2019-11-15T21:47:30Z 2019-11-15T21:47:30Z Senate S S 2011-04-13 112 ssaf00 Agriculture, Nutrition, and Forestry Committee Senate Standing Referred to 2011-04-13T17:56:16Z 2011-04-13 ssaf00 Agriculture, Nutrition, and Forestry Committee Senate Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. IntroReferral 2011-04-13 Introduced in Senate IntroReferral 10000 9 Library of Congress B000243 Sen. Baucus, Max [D-MT] MAX BAUCUS D MT SIEBEN N M001170 Sen. McCaskill, Claire [D-MO] Claire McCaskill D MO 2011-09-12 False G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2011-09-14 False Agriculture and Food Business investment and capital Government lending and loan guarantees Rural conditions and development Small business Agriculture and Food 00 2011-04-13 Introduced in Senate 2011-05-06T19:23:52Z Rural Access to Credit Act of 2011 - Amends the Consolidated Farm and Rural Development Act to direct the Secretary of Agriculture (USDA) to use commercial lending standards in determining equity requirements for rural entity direct or guaranteed loans.

Directs the Secretary, through December 31, 2012, to guarantee up to 90% of high priority business and industry loans up to $10 million. Authorizes the Secretary, beginning on January 1, 2013, to guarantee up to 80% or 90% of high priority business and industry loans up to $10 million. Directs the Secretary to guarantee related line-of-credit loans.

Authorizes business and industry loans to be used for refinancing.

Waives audit requirements for business and industry loans under $1 million. Authorizes audit waiver for loans of at least $1 million.

Directs the Secretary to use the Small Business Administration (SBA) calculation method in calculating the delinquency rate for business and industry loans.

Expresses the sense of Congress that in allocating discretionary funds the Secretary should give priority to the rural microentrepreneur assistance program.

]]> Rural Access to Credit Act of 2011 Short Titles as Introduced Rural Access to Credit Act of 2011 Display Title Rural Access to Credit Act of 2011 Official Title as Introduced A bill to amend the Consolidated Farm and Rural Development Act to improve the business and industry direct and guaranteed loan program of the Department of Agriculture. Introduced in Senate 2011-04-13T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s805is/xml/BILLS-112s805is.xml 2011-04-13 Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.