    [Public Papers of the Presidents of the United States: WILLIAM J. CLINTON (1999, Book II)]
    [October 9, 1999]
    [Page 1748]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on Signing Family Farmers Bankruptcy Relief Legislation
    October 9, 1999

        I have signed into law S. 1606, which extends the provisions of
    chapter 12 of the Bankruptcy Code until July 1, 2000.
        Chapter 12 of the Bankruptcy Code was enacted in 1986 to provide
    bankruptcy relief to our Nation's family farmers, enabling them to avoid
    the loss of their farms and their way of life. Chapter 12 has also
    benefited creditors, who would be unlikely to obtain repayment if these
    farmers went out of business.
        This is the third short-term extension of chapter 12 that I have
    approved since last fall. As I stated in March when I approved the most
    recent extension, I urge the Congress to make chapter 12 permanent.

                                                          William J. Clinton

    The White House,

    October 9, 1999.

    Note: S. 1606, approved October 9, was assigned Public Law No. 106-70.
    This statement was released by the Office of the Press Secretary on
    October 12.