US HB7483 | 2019-2020 | 116th Congress

Status

Spectrum: Bipartisan Bill
Status: Introduced on July 2 2020 - 25% progression
Action: 2020-09-03 - Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Pending: House Commodity Exchanges, Energy, and Credit Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Flexible Financing for Rural America Act of 2020 This bill allows rural utility service providers to submit to the Department of Agriculture (USDA) a request to adjust the interest rate or modify the terms of certain loans. The request shall include a report summarizing how the adjustment or modification will assist the borrower in providing critical utility services to a rural community. Specifically, on receipt of a request, USDA must adjust the interest rate on the loan to match certain interest rates in effect when the bill is enacted for obligations of comparable maturity to the term remaining on the loan (or a higher rate requested by the borrower), and make modifications to the loan terms as necessary to address changes in the financial position of the borrower due to the COVID-19 (i.e., coronavirus disease 2019) public health emergency and to promote the financial sustainability of the borrower. In carrying out the adjustments or modifications, USDA shall not impose or collect any fee from, or impose any penalty on, a borrower. The bill also provides funding to implement the adjustments and modifications.

Tracking Information

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Title

Flexible Financing for Rural America Act of 2020

Sponsors

Rep. Vicky Hartzler [R-MO]Rep. Tom O'Halleran [D-AZ]Rep. James Baird [R-IN]Rep. Neal Dunn [R-FL]
Rep. Dusty Johnson [R-SD]Rep. Pete Stauber [R-MN]Rep. Ron Kind [D-WI]Rep. Roger Marshall [R-KS]
Rep. David Rouzer [R-NC]Rep. Rick Allen [R-GA]Rep. Alma Adams [D-NC]Rep. Ralph Norman [R-SC]
Rep. Bennie Thompson [D-MS]Rep. Eliot Engel [D-NY]Rep. Cindy Axne [D-IA]Rep. Sanford Bishop [D-GA]
Rep. Terri Sewell [D-AL]Rep. G. Butterfield [D-NC]Rep. Eric Crawford [R-AR]Rep. James Hagedorn [R-MN]
Rep. Al Lawson [D-FL]Rep. Mike Bost [R-IL]Rep. Kurt Schrader [D-OR]Rep. Don Young [R-AK]
Rep. Kendra Horn [D-OK]Rep. Peter Welch [D-VT]Rep. Greg Gianforte [R-MT]Rep. Donald McEachin [D-VA]
Rep. Debbie Lesko [R-AZ]Rep. Darren Soto [D-FL]Rep. Gus Bilirakis [R-FL]Rep. Don Bacon [R-NE]
Rep. Markwayne Mullin [R-OK]Rep. Alcee Hastings [D-FL]Rep. John Moolenaar [R-MI]Rep. Rodney Davis [R-IL]
Rep. Jeff Duncan [R-SC]Rep. Elaine Luria [D-VA]Rep. Paul Gosar [R-AZ]Rep. David Price [D-NC]
Rep. Kelly Armstrong [R-ND]Rep. Jody Hice [R-GA]Rep. James Comer [R-KY]Rep. Morgan Griffith [R-VA]
Rep. Harold Rogers [R-KY]Rep. Marc Veasey [D-TX]Rep. Ruben Gallego [D-AZ]Rep. Anthony Brown [D-MD]
Rep. Alexander Mooney [R-WV]Rep. Henry Cuellar [D-TX]Rep. Brian Fitzpatrick [R-PA]Rep. Lisa Rochester [D-DE]
Rep. Tom Rice [R-SC]Rep. Billy Long [R-MO]Rep. Collin Peterson [D-MN]Rep. Blaine Luetkemeyer [R-MO]
Rep. Greg Stanton [D-AZ]Rep. Garland Barr [R-KY]Rep. Michael Conaway [R-TX]Rep. Sharice Davids [D-KS]
Rep. Antonio Delgado [D-NY]Rep. Ann Wagner [R-MO]Rep. Fred Keller [R-PA]Rep. Troy Balderson [R-OH]
Rep. Matt Gaetz [R-FL]Rep. Jim Jordan [R-OH]Rep. David Trone [D-MD]Rep. Carol Miller [R-WV]
Rep. Abigail Spanberger [D-VA]Rep. Greg Steube [R-FL]Rep. David Loebsack [D-IA]Rep. Anthony Brindisi [D-NY]
Rep. Glenn Thompson [R-PA]Rep. David McKinley [R-WV]Rep. Yvette Clarke [D-NY]Rep. Marcia Fudge [D-OH]
Rep. Danny Davis [D-IL]Rep. Donald Payne [D-NJ]Rep. Peter DeFazio [D-OR]Rep. Earl Carter [R-GA]
Rep. John Shimkus [R-IL]Rep. Dan Meuser [R-PA]Rep. Bill Johnson [R-OH]Rep. Ted Yoho [R-FL]
Rep. Doug LaMalfa [R-CA]Rep. Xochitl Torres Small [D-NM]Rep. Stacey Plaskett [D-VI]Rep. Angela Craig [D-MN]
Rep. Richard Hudson [R-NC]Rep. Sam Graves [R-MO]Rep. Mark Pocan [D-WI]Rep. Ben Lujan [D-NM]
Rep. Dan Bishop [R-NC]Rep. Filemon Vela [D-TX]Rep. Jennifer Wexton [D-VA]Rep. Cheri Bustos [D-IL]
Rep. Debra Haaland [D-NM]Rep. Tony Cardenas [D-CA]Rep. Raul Ruiz [D-CA]Rep. Bobby Rush [D-IL]
Rep. Ann Kuster [D-NH]Rep. Ted Lieu [D-CA]Rep. Kathleen Rice [D-NY]Rep. Mike D. Rogers [R-AL]
Rep. Bill Posey [R-FL]Rep. Andy Kim [D-NJ]Rep. Donald Norcross [D-NJ]Rep. Brian Babin [R-TX]

History

DateChamberAction
2020-09-03HouseReferred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
2020-07-02HouseReferred to the Committee on Agriculture, and in addition to the Committees on Energy and Commerce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2020-07-02HouseReferred to the Committee on Agriculture, and in addition to the Committees on Energy and Commerce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2020-07-02HouseReferred to the Committee on Agriculture, and in addition to the Committees on Energy and Commerce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2020-07-02HouseIntroduced in House

Same As/Similar To

SB4152 (Related) 2020-07-02 - Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Subjects


US Congress State Sources


Bill Comments

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