To amend the Agricultural Market Transition Act to extend the term of marketing assistance loans. (Introduced in the Senate)

S 1635 IS

106th CONGRESS

1st Session

S. 1635

To amend the Agricultural Market Transition Act to extend the term of marketing assistance loans.

IN THE SENATE OF THE UNITED STATES

September 24, 1999

Mr. GRAMS introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry

A BILL

To amend the Agricultural Market Transition Act to extend the term of marketing assistance loans.

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

SECTION 1. TERM OF MARKETING ASSISTANCE LOANS.

Section 133 of the Agricultural Market Transition Act (7 U.S.C. 7233) is amended--

(1) in subsection (a), by striking `9 months' and inserting `3 years'; and

(2) by striking subsection (c) and inserting the following:

`(c) EXTENSION- The Secretary may extend the term of a marketing assistance loan made to producers on a farm for any loan commodity for 1 9-month period if the Secretary determines that the extension would be beneficial to the producers in marketing the loan commodity.'.