[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.