FINAL BILL REPORT

SJM 8016

BYSenator Hansen

Requesting the strengthening of the Farm Credit System to assist Washington farmers.

Senate Committee on Agriculture

House Committe on Agriculture & Rural Development

AS PASSED LEGISLATURE

BACKGROUND:

The farming community in the State of Washington is experiencing a financial credit problem.  The Farm Credit System has had an increase in delinquencies and a decrease in surplus capital.  The Farmer's Home Administration has received an allocation which cuts deeply into available credit for direct insured loans to farmers and only increases sources to guarantee loans, which farmers must receive from commercial lenders.  The consistent and reliable availability of credit through these institutions is essential to the state's farming community.

SUMMARY:

Based on the financial condition of the farming community in this state and the lack of available credit through the lending institutions, the United States Congress is requested to take appropriate action to assure the stability and survival of the Farmer's Home Administration and the Farm Credit System, and to take those steps necessary to increase the availability of credit through these institutions for the Washington State farmers.

VOTES ON FINAL PASSAGE:

      Senate    47     0

      House 97   0