S.Amdt. 2169
What it does: Inserts new text on page 424, between lines 3 and 4
Sen. Chuck Grassley (R-IA)What it changes
1 change to S. 3240
Inserts new text on page 424, between lines 3 and 4
InsertsPrinted pageInserted: (d) Limitation on Period Borrowers Are Eligible for Guaranteed Loans.--
Inserted: (1) In general.--Subject to paragraph (2), the Secretary shall not guarantee a loan under this chapter for a borrower for any year after the 15th year that a guarantee is provided with respect to, the borrower under this chapter.
Inserted: (2) Waivers.--
Inserted: (A) In general.--The Secretary may, on a case-by-case basis not subject to administrative appeal, grant a borrower a waiver from the limitation period under paragraph (1) if the borrower demonstrates to the satisfaction of the Secretary that--
Inserted: (i) the borrower has a viable farm or ranch operation; and
Inserted: (ii) the borrower is unable to obtain a commercial loan without a loan guarantee.
Inserted: (B) Waiver period.--A waiver issued under subparagraph (A) shall not be for a period of more than 3 years.
Original wording
On page 424, between lines 3 and 4, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 2169. Mr. GRASSLEY submitted an amendment intended to be proposed by him to the bill S. 3240, to reauthorize agricultural programs through 2017, and for other purposes; which was ordered to lie on the table; as follows:
On page 424, between lines 3 and 4, insert the following:
“(d) Limitation on Period Borrowers Are Eligible for Guaranteed Loans.--
“(1) In general.--Subject to paragraph (2), the Secretary shall not guarantee a loan under this chapter for a borrower for any year after the 15th year that a guarantee is provided with respect to, the borrower under this chapter.
“(2) Waivers.--
“(A) In general.--The Secretary may, on a case-by-case basis not subject to administrative appeal, grant a borrower a waiver from the limitation period under paragraph (1) if the borrower demonstrates to the satisfaction of the Secretary that--
“(i) the borrower has a viable farm or ranch operation; and
“(ii) the borrower is unable to obtain a commercial loan without a loan guarantee.
“(B) Waiver period.--A waiver issued under subparagraph (A) shall not be for a period of more than 3 years.
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Senate amendment submitted
June 6, 2012