S. 2851Senate108th Congress (2003-2005)In Committee

A bill to amend the Farm Credit Act of 1971 to establish certain conditions under which a Farm Credit System institution can terminate its status as a System institution.

Introduced September 28, 2004

Legislative Activity

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SenateIntro Referral Latest Action

Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (text of measure as introduced: CR S9814)

September 28, 2004

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SenateIntro Referral

Introduced in Senate

September 28, 2004

SenateIntro Referral

Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (text of measure as introduced: CR S9814)

September 28, 2004

Floor Debate

6 members

What members said about S. 2851 on the floor

3 Republicans3 Democrats
James M. Inhofe
Sen. James M. InhofeR-OK · Sep 28, 2004

Mr. President, the recent CBS incident involving the record of President Bush's service in the Texas Air National Guard sheds light on the need for a Federal statute generally criminalizing the…

Rick Santorum
Sen. Rick SantorumR-PA · Sep 28, 2004

Mr. President, I rise today to introduce the Special Olympics Sports Empowerment Act. I am very pleased that Senator Reid has joined me in introducing this legislation to authorize $15 million for…

Tom Harkin
Sen. Tom HarkinD-IA · Sep 28, 2004

Mr. President, I am very pleased to join my colleague and Chairman of the Committee on Agriculture, Nutrition and Forestry, Mr. Cochran in introducing this piece of legislation to correct a…

Tim Johnson
Sen. Tim JohnsonD-SD · Sep 28, 2004

Mr. President, I rise today in support of a bill I am cosponsoring with Senator Daschle. This important piece of legislation would affect the way the Farm Credit Administration, FCA, handles any…

Tim Johnson
Sen. Tim JohnsonD-SD · Sep 28, 2004

Mr. President, I rise today in support of a bill I am cosponsoring with Senator Daschle. This important piece of legislation would affect the way the Farm Credit Administration, FCA, handles any…

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Thomas A. Daschle
Sen. Thomas A. DaschleD-SD · Sep 28, 2004

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Thad Cochran
Sen. Thad CochranR-MS · Sep 28, 2004

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Thomas A. Daschle
Sen. Thomas A. DaschleD-SD · Sep 28, 2004

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Bill Text

Latest available legislative text

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Introduced in SenateIssued September 28, 2004
        [Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 2851 Introduced in Senate (IS)]

108th CONGRESS
2d Session
S. 2851

To amend the Farm Credit Act of 1971 to establish certain conditions
under which a Farm Credit System institution can terminate its status
as a System institution.

_______________________________________________________________________

IN THE SENATE OF THE UNITED STATES

September 28, 2004

Mr. Daschle (for himself and Mr. Johnson) introduced the following
bill; which was read twice and referred to the Committee on
Agriculture, Nutrition, and Forestry

_______________________________________________________________________

A BILL

To amend the Farm Credit Act of 1971 to establish certain conditions
under which a Farm Credit System institution can terminate its status
as a System institution.

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

SECTION 1. TERMINATION OF FARM CREDIT SYSTEM STATUS.

Section 7.10 of the Farm Credit Act of 1971 (12 U.S.C. 2279d) is
amended by adding at the end the following:
``(c) Conditions for Certain Termination.--Notwithstanding
subsections (a) and (b), if the Farm Credit Administration Board
receives an official notification that a Farm Credit System institution
seeks to terminate its status as a System institution, the Farm Credit
Administration--
``(1) shall hold not less than 1 public meeting or hearing
in each of the States served, as of the date of receipt of the
notification, by the institution; and
``(2) shall not approve or disapprove the termination of
the institution as a System institution under subsection (a)(2)
until on or after the date that is 180 days after the date of
receipt of the notification.''.
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