[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2145 Introduced in House (IH)]







105th CONGRESS
  1st Session
                                H. R. 2145

 To amend the Consolidated Farm and Rural Development Act to authorize 
 the Secretary of Agriculture to make guaranteed farm ownership loans 
and guaranteed farm operating loans of up to $600,000, and to increase 
               such maximum loan amounts with inflation.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 10, 1997

Mr. Pickering introduced the following bill; which was referred to the 
                        Committee on Agriculture

_______________________________________________________________________

                                 A BILL


 
 To amend the Consolidated Farm and Rural Development Act to authorize 
 the Secretary of Agriculture to make guaranteed farm ownership loans 
and guaranteed farm operating loans of up to $600,000, and to increase 
               such maximum loan amounts with inflation.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. INCREASE IN MAXIMUM AMOUNT OF GUARANTEED FARM OWNERSHIP 
              LOANS; INDEXATION TO INFLATION.

    Section 305 of the Consolidated Farm and Rural Development Act (7 
U.S.C. 1925) is amended--
            (1) by striking ``$300,000'' and inserting ``$600,000 
        (increased, beginning with fiscal year 1998, by the inflation 
        percentage applicable to the fiscal year in which the loan is 
        to be made or insured)''; and
            (2) by adding at the end the following: ``For purposes of 
        this section, the inflation percentage applicable to a fiscal 
        year is the percentage (if any) by which (A) the average of the 
        Consumer Price Index (as defined in section 1(f)(5) of the 
        Internal Revenue Code of 1986) for the 12-month period ending 
        on August 31 of the immediately preceding fiscal year, exceeds 
        (B) the average of the Consumer Price Index (as so defined) for 
        the 12-month period ending on August 31, 1996.''.

SEC. 2. INCREASE IN MAXIMUM AMOUNT OF GUARANTEED FARM OPERATING LOANS; 
              INDEXATION TO INFLATION.

    Section 313 of the Consolidated Farm and Rural Development Act (7 
U.S.C. 1943) is amended--
            (1) by striking ``$400,000'' and inserting ``$600,000 
        (increased, beginning with fiscal year 1998, by the inflation 
        percentage applicable to the fiscal year in which the loan is 
        to be made or insured)''; and
            (2) by adding at the end the following: ``For purposes of 
        this section, the inflation percentage applicable to a fiscal 
        year is the percentage (if any) by which (A) the average of the 
        Consumer Price Index (as defined in section 1(f)(5) of the 
        Internal Revenue Code of 1986) for the 12-month period ending 
        on August 31 of the immediately preceding fiscal year, exceeds 
        (B) the average of the Consumer Price Index (as so defined) for 
        the 12-month period ending on August 31, 1996.''.
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