To amend the Commodity Credit Corporation Charter Act to index the borrowing authority limit of Commodity Credit Corporation for inflation, and for other purposes.

This bill increases the borrowing authority limit of the Commodity Credit Corporation and indexes this limit to inflation.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7679 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 7679

  To amend the Commodity Credit Corporation Charter Act to index the 
     borrowing authority limit of Commodity Credit Corporation for 
                   inflation, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 20, 2020

 Mr. Crawford introduced the following bill; which was referred to the 
                        Committee on Agriculture

_______________________________________________________________________

                                 A BILL


 
  To amend the Commodity Credit Corporation Charter Act to index the 
     borrowing authority limit of Commodity Credit Corporation for 
                   inflation, and for other purposes.

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

SECTION 1. INDEXING BORROWING AUTHORITY LIMIT OF COMMODITY CREDIT 
              CORPORATION FOR INFLATION.

    Section 4(i) of the Commodity Credit Corporation Charter Act (15 
U.S.C. 714b(i)) is amended by striking ``in the aggregate 
$30,000,000,000.'' and inserting the following: ``in the aggregate, for 
each fiscal year preceding fiscal year 2021, $30,000,000,000 and 
beginning with fiscal year 2021, $68,000,000,000. Beginning with fiscal 
year 2021, the amount referred to in the preceding sentence shall be 
increased each fiscal year based on the percentage increase in the 
consumer price index for all urban consumers (all items; United States 
city average), over the preceding fiscal year.''.
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