US Congress Senate Bill 4152 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on July 2 2020 - 25% progression, died in committee
Action: 2020-07-02 - Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Pending: Senate Agriculture, Nutrition, And Forestry Committee
Text: Latest bill text (Introduced) [PDF]

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.

Flexible Financing for Rural America Act of 2020

Sen. John Hoeven [R-ND]	Sen. John Boozman [R-AR]	Sen. Tina Smith [D-MN]	Sen. Kyrsten Sinema [I-AZ]
Sen. Thom Tillis [R-NC]	Sen. David Perdue [R-GA]	Sen. John Barrasso [R-WY]	Sen. Kevin Cramer [R-ND]
Sen. Doug Jones [D-AL]	Sen. Mike Rounds [R-SD]	Sen. Tammy Baldwin [D-WI]	Sen. Amy Klobuchar [D-MN]
Sen. Gary Peters [D-MI]	Sen. Jon Tester [D-MT]	Sen. Steve Daines [R-MT]	Sen. Tim Scott [R-SC]
Sen. John Cornyn [R-TX]	Sen. James Inhofe [R-OK]	Sen. Jerry Moran [R-KS]	Sen. Mazie Hirono [D-HI]
Sen. Joni Ernst [R-IA]	Sen. James Risch [R-ID]	Sen. Shelley Capito [R-WV]	Sen. Brian Schatz [D-HI]
Sen. Mark Kelly [D-AZ]

Date	Chamber	Action
2020-07-02	Senate	Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

HB7483 (Related) 2020-09-03 - Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/4152/all-info
Text	https://www.congress.gov/116/bills/s4152/BILLS-116s4152is.pdf