[Congressional Record (Bound Edition), Volume 152 (2006), Part 18]
[House]
[Page 23316]
[From the U.S. Government Publishing Office, www.gpo.gov]




SUSPENSION OF LIMITATION ON PERIOD FOR WHICH BORROWERS ARE ELIGIBLE FOR 
                         GUARANTEED ASSISTANCE

  Mr. BOUSTANY. Mr. Speaker, I move to suspend the rules and pass the 
Senate bill (S. 4093) to amend the Farm Security and Rural Investment 
Act of 2002 to extend a suspension of limitation on the period for 
which certain borrowers are eligible for guaranteed assistance.
  The Clerk read as follows:

                                S. 4093

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

     SECTION 1. SUSPENSION OF LIMITATION ON PERIOD FOR WHICH 
                   BORROWERS ARE ELIGIBLE FOR GUARANTEED 
                   ASSISTANCE.

       Section 5102 of the Farm Security and Rural Investment Act 
     of 2002 (7 U.S.C. 1949 note; Public Law 107-171) is amended 
     by striking ``December 31, 2006'' and inserting ``September 
     30, 2007''.

  The SPEAKER pro tempore. Pursuant to the rule, the gentleman from 
Louisiana (Mr. Boustany) and the gentleman from Louisiana (Mr. 
Melancon) each will control 20 minutes.
  The Chair recognizes the gentleman from Louisiana.


                             General Leave

  Mr. BOUSTANY. Mr. Speaker, I ask unanimous consent that all Members 
have 5 legislative days within which to revise and extend their 
remarks.
  The SPEAKER pro tempore. Is there objection to the request of the 
gentleman from Louisiana?
  There was no objection.
  Mr. BOUSTANY. Mr. Speaker, I yield myself such time as I may consume.
  Mr. Speaker, I rise in support of the bill, S. 4093. This bill will 
modify the expiration date of a provision of a farm bill dealing with 
farm credit so that it expires concurrent with the rest of the farm 
bill. Currently a provision of the farm bill dealing with guaranteed 
loans for farmers and ranchers expires on December 31 of this calendar 
year.
  The rest of the farm bill, however, does not begin to expire until 
December 30 of 2007. By passing this bill, we are ensuring that this 
credit program has the opportunity to be fully debated during the 
development of the next farm bill. Furthermore, should this provision 
expire in the next few days, it would create a hardship on the part of 
those farmers, ranchers, and lenders to whom it would apply.
  I ask my colleagues to support this bill so that this credit program 
which is so important for America's young and beginning farmers has the 
opportunity to be debated and reevaluated during the development of the 
next farm bill without causing undue hardship with limited notice to 
the farmers and ranchers that use this important program.
  Mr. Speaker, I urge the passage of this bill, and I reserve the 
balance of my time.
  Mr. MELANCON. Mr. Speaker, I join with Mr. Boustany and rise in 
support of Senate bill 4093. I would like to thank the leadership of 
the Senate Agriculture Committee for sending this bill over to us. This 
bill is just an extension of the term limit waiver until September 30, 
2007. It will allow us to fully discuss the issue of guaranteed loan 
eligibility during the farm bill.
  Passage of this legislation will ensure farmers and ranchers won't be 
left without financing options with little or no notice.
  Mr. Speaker, this is especially important in areas suffering from 
crop and livestock disasters the last several years. I urge the passage 
of this legislation.
  Mr. GOODLATTE. Mr. Speaker, I rise in support of S. 4093. This bill 
will modify the expiration date of a provision of the farm bill dealing 
with farm credit so that it expires concurrent with the rest of the 
farm bill. Currently, a provision of the farm bill dealing with 
guaranteed loans for farmers and ranchers expires on December 31 of 
this year. The rest of the farm bill, however, does not begin to expire 
until September 30, 2007. By passing S. 4093, we are ensuring that this 
credit program has the opportunity to be fully debated during the 
development of the next farm bill. Should this provision expire in the 
next few days, it could create hardship on the part of those farmers, 
ranchers and lenders to whom it would apply. I ask my colleagues to 
support S. 4093 so that this credit program, which is important for 
America's young and beginning farmers, has the opportunity to be 
debated and reevaluated during development of the next farm bill 
without causing undue hardship with limited notice to the farmers and 
ranchers that use this important program.
  Mr. BOUSTANY. Mr. Speaker, I rise in support of the bill, S. 4093. 
This bill will modify the expiration date of a provision of a farm bill 
dealing with farm credit so that it expires concurrent with the rest of 
the farm bill. Currently a provision of the farm bill dealing with 
guaranteed loans for farmers and ranchers expires on December 31 of 
this calendar year.
  The rest of the farm bill, however, does not begin to expire until 
December 30 of 2007. By passing this bill, we are ensuring that this 
credit program has the opportunity to be fully debated during the 
development of the next farm bill. Furthermore, should this provision 
expire in the next few days, it would create a hardship on the part of 
those farmers, ranchers, and lenders to whom it would apply.
  I ask my colleagues to support this bill so that this credit program, 
which is so important for America's young and beginning farmers, has 
the opportunity to be debated and reevaluated during the development of 
the next farm bill without causing undue hardship with limited notice 
to the farmers and ranchers that use this important program.
  I would also like to thank Michael Hare of my staff for his diligent 
work in the last week to bring this bill to the floor.
  Mr. MELANCON. Mr. Speaker, I yield back the balance of my time.
  Mr. BOUSTANY. Mr. Speaker, I yield back the balance of my time.
  The SPEAKER pro tempore. The question is on the motion offered by the 
gentleman from Louisiana (Mr. Boustany) that the House suspend the 
rules and pass the Senate bill, S. 4093.
  The question was taken; and (two-thirds of those voting having 
responded in the affirmative) the rules were suspended and the Senate 
bill was passed.
  A motion to reconsider was laid on the table.

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