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Bill > S4354
US S4354
US S4354A bill to require the Secretary of Agriculture to make recourse loans available to commercial processors of dairy products during the COVID-19 pandemic, and for other purposes.
summary
Introduced
07/29/2020
07/29/2020
In Committee
07/29/2020
07/29/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A bill to require the Secretary of Agriculture to make recourse loans available to commercial processors of dairy products during the COVID-19 pandemic, and for other purposes. This bill requires the Department of Agriculture to make recourse loans available to commercial processors, packagers, or merchandisers of dairy products during the COVID-19 (i.e., coronavirus disease 2019) pandemic. The bill also provides funding for the loans and specifies that loans shall be provided to applicants for up to the value of the dairy product inventory of such applicants. Dairy product inventory used as collateral for the recourse loan program shall be pledged on a rotating basis to prevent spoilage of perishable products.
AI Summary
This bill requires the Department of Agriculture to make recourse loans available to commercial processors, packagers, or merchandisers of dairy products during the COVID-19 pandemic. The loans will be provided to qualified applicants up to the value of their eligible dairy product inventory, and the inventory used as collateral will be pledged on a rotating basis to prevent spoilage of perishable products. The bill also provides $500 million in funding for the loan program and designates the funding as an emergency requirement.
Committee Categories
Agriculture and Natural Resources
Sponsors (1)
Last Action
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (on 07/29/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/senate-bill/4354/all-info |
| BillText | https://www.congress.gov/116/bills/s4354/BILLS-116s4354is.pdf |
| Bill | https://www.congress.gov/116/bills/s4354/BILLS-116s4354is.pdf.pdf |
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