-3 Wednesday, May 2, 1979 Conservation and Credit Subcommittee Action Taken: - By show of hands vote of 9 yeas-0 nays Subcommittee approved Jones (Tenn.) substitute amendment as markup vehicle. By show of hands vote of 7 yeas-1 nay previous question ordered on Panetta amendment. By voice vote Panetta amendment agreed to. By show of hands vote of 8 yeas-0 nays previous question ordered on Dashcle- By unanimous voice vote previous question ordered on Glickman amendments. By unanimous voice vote previous question ordered on Madigan amendment. By By unanimous voice vote Panetta motion to approve Jones (Tenn.) substitute amendment, as amended, approved. By unanimous voice vote Glickman motion to favorably report H.R. 3683, as amended, approved in the presence of a quorum. Chairman Jones (Tenn.) called the meeting to order and recognized the witnesses listed on page 2 of these minutes for their testimony on legislation to authorize the loan programs of the Farmers Home Administration. Following presentation of their statements, the witnesses were questioned by the Members of the Subcommittee. At 10:55 a.m. at the conclusion of the hearing, the Subcommittee moved into an open business meeting for the purpose of marking up the legislation. Mr. Jones (Tenn.) offered the attached substitute amendment (see also chart setting forth differences). Mr. Madigan moved to strike all after the enacting clause of H.R. 3683 and to insert in lieu thereof the pending Jones (Tenn.) substitute amendment. By a show of hands vote of 9 yeas-0 nays the motion was agreed to, and the Jones (Tenn.) substitute was open for amendment at any point. Discussion occurred on the legislation. Mr. Panetta offered the attached amendment to protect the Farmers Home Administration loan programs as they are administered by the Department of Agriculture. Discussion occurred. Mr. Daschle moved the previous question and by a show of hands vote of 7 yeas-1 nay the previous question was ordered. By a voice vote the Panetta amendment was agreed to. -4 Wednesday, May 2, 1979 Conservation and Credit Subcommittee H.R. 3683 Mr. Daschle offered the attached amendment in co-sponsorship with Chairman Jones (Tenn.). The amendment would carry on the limited resource application program whereby 25 percent of operating and ownership loans would be for low income limited resource borrowers. Discussion occurred on the amendment. By a show of hands vote of 8 yeas-0 nays the previous question was ordered. By a unanimous voice vote the Daschle-Jones (Tenn.) amendment was agreed to. Mr. Glickman offered three amendments en bloc (copies attached) to put into the statute what the FmHA has been doing to include lending authority for energy purposes. Discussion occurred on the Glickman amendments. Mr. Glickman moved the previous question on his amendments and by a unanimous voice vote the previous question was ordered. By a unanimous voice vote the Glickman amendments were agreed to. Mr. Madigan offered the attached amendment to the limitation of authority of FmHA to make loans to communities not exceeding 10,000. The Madigan amendment would increase the population figure to 20,000. Discussion occurred on the amendment. Mr. Madigan moved the previous question on his amendment and by a unanimous voice vote the previous question was ordered. By a unanimous voice vote the Madigan amendment was approved. Mr. Panetta moved that the Subcommittee adopt the Jones (Tenn.) substitute amendment, as amended. By a unanimous voice vote the motion was agreed to. Mr. Glickman moved to report H.R. 3683, as amended, to the full Committee with a favorable recommendation. By a unanimous voice vote and in the presence of a quorum (10 Members present at the time the vote was taken) the motion was approved. At 10:00 noon the meeting was adjourned, subject to the call of the Chair. Glenda Temple AMENDMENT IN THE NATURE OF A SUBSTITUTE BY MR. JONES (Tenn.) TO H.R. 3683 Page 1, line 3, strike out all after the enacting clause and insert in lieu thereof the following: That section 346 of the Consolidated Farm and Rural Development Act is amended by inserting "(a)" after "Sec. 346." and by adding a new subsection (b) to read as follows: "(b) (1) Loans for each of the fiscal years 1980, 1981, and 1982 are authorized to be insured, or made to be sold and insured, or guaranteed, under the Agricultural Credit Insurance Fund as follows: (A) real estate loans, $1,615,000,000, including $1,500,000,000 for farm ownership loans of which $1,400,000,000 may be for insured loans and $100,000,000 may be for guaranteed loans with authority to transfer 25 percent of such amounts between categories and $100,000,000 for water development, use, and conservation loans of which $90,000,000 may be for insured loans and $10,000,000 may be for guaranteed loans with authority to transfer 25 percent of such amounts between categories; (B) operating loans, $1,200,000,000 of which $1,150,000,000 may be for insured loans and $50,000,000 may be for guaranteed loans with authority to transfer 25 percent of such amounts between categories; and (C) emergency insured and guaranteed loans in amounts necessary to meet the needs resulting from natural disasters. "(2) Loans for each of the fiscal years 1980, 1981, and 1982 are authorized to be insured, or made to be sold and insured, or guaranteed, under the Rural Development Insurance Fund as follows: insured water and sewer facility loans, $1,000,000,000; industrial development loans, $1,500,000,000 of which $100,000,000 may be for insured loans and $1,400,000,000 may be for guaranteed loans with authority to transfer amounts between such categories; and insured community facility loans, $500,000,000.". |