S. 3229 — Introduced in Senate

II 114th CONGRESS 2d Session S. 3229 IN THE SENATE OF THE UNITED STATES July 14, 2016 Mr. Hoeven (for himself and Ms. Klobuchar) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry A BILL To amend the Consolidated Farm and Rural Development Act to adjust limitations on certain Farm Service Agency guaranteed and direct loans. 1. Short title This Act may be cited as the Capital for Farmers and Ranchers Act of 2016. 2. Farm loan funding reform (a) Limitations on amount of farm ownership loans Section 305(a)(2) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1925(a)(2)) is amended— (1) by striking $300,000 and inserting $600,000; (2) by striking $700,000 and inserting $2,500,000; and (3) by striking 2000 and inserting 2016. (b) Limitations on amount of operating loans Section 313(a)(1) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1943(a)(1)) is amended— (1) by striking $300,000 and inserting $600,000; (2) by striking $700,000 and inserting $2,500,000; and (3) by striking 2000 and inserting 2016.