1、Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS Web96-431 ENRMay 16, 1996Credit Provisions of the Enacted 1996 Farm BillRalph M. ChiteSpecialist in Agricultural PolicyEnvironment and Natural Resources Policy DivisionSummaryThe Federal Agricultura
2、l Improvement and Reform Act of 1996 (P.L. 104-127, the1996 farm bill), which was signed into law on April 4, 1996, contains a credit title (TitleVI) that directly affects eligibility for USDA farm loans and the servicing of its delinquentloans. Among its provisions, the credit title eliminates a re
3、quirement that USDA provideoperating loans to farm borrowers who are delinquent on previous loans; denies newfarm loans to any borrower who had a delinquent loan on which the debt was forgiven;reduces the mandated period USDA must wait to notify borrowers that they aredelinquent and to inform them o
4、f their loan servicing options; continues the shift inUSDA lending resources from direct loans to guaranteed loans; and expedites the saleof acquired USDA farm property. A provision in the omnibus FY1996 appropriationsand rescissions bill (P.L. 104-134) enacted on April 26, 1996, waives the farm bil
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