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

Amends the Agricultural Market Transition Act to extend the term of marketing assistance loans to three years, with a discretionary one time nine-month extension.

[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 1635 Introduced in Senate (IS)]







106th CONGRESS
  1st Session
                                S. 1635

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


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                   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.''.
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