S.Amdt. 1229

SA 1229. Mr. PETERS (for himself, Ms. Stabenow, Mr. Jones, and Mr.
Tester) submitted an amendment intended to be proposed to amendment SA
948 proposed by Mr. Shelby to the bill H.R. 3055, making appropriations
for the Departments of Commerce and Justice, Science, and Related
Agencies for the fiscal year ending September 30, 2020, and for other
purposes; which was ordered to lie on the table; as follows:

At the appropriate place in title VII of division B,
insert the following:
Sec. 7__. (a) Notwithstanding any other provision of law,
of the funds of the Commodity Credit Corporation, the
Secretary of Agriculture (referred to in this section as the
``Secretary'') may use for the cost of loan guarantees not
more than $30,000,000 to carry out the interest rate
reduction program established under section 351 of the
Consolidated Farm and Rural Development Act (7 U.S.C. 1999).
(b)(1) Not later than 90 days after the date of enactment
of this Act, the Secretary shall advertise to current
borrowers the process and opportunity by which a borrower
may, pursuant to section 331A(a) of the Consolidated Farm and
Rural Development Act (7 U.S.C. 1981a(a)), request deferral
of principal and interest in order to forgo foreclosure.
(2) The Secretary shall submit a quarterly report
describing the number of requests under paragraph (1)
submitted, approved, and denied to--
(A) the Committee on Agriculture, Nutrition, and Forestry
of the Senate;
(B) the Committee on Agriculture of the House of
Representatives;
(C) the Committee on Appropriations of the Senate; and
(D) the Committee on Appropriations of the House of
Representatives.
(c) For purposes of providing equitable relief under
section 366 of the Consolidated Farm and Rural Development
Act (7 U.S.C. 2008a), the Secretary may consider a good faith
claim of a borrower of misunderstanding due to ambiguous or
unclear guidance or a change in normal procedure to be
reliance on the advice of the Secretary under subsection
(b)(2) of that section.
(d) The amounts made available under this section are
designated by Congress as being for emergency requirements
pursuant to section 251(b)(2)(A)(i) of the Balanced Budget
and Emergency Deficit Control Act of 1985 (2 U.S.C.
901(b)(2)(A)(i)).
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