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Agricultural Credit Improvement Act of 1992

Public Law 102-554 · H.R. 6129 · 102nd Congress · began in the House

Signed by George H. W. Bush (R) on Oct 28, 1992 · Agriculture and Food

Sponsor: Rep. Kika de la Garza (D-TX-15)

Cosponsors (1): Rep. Earl Coleman

Passage votes

  • HouseUnanimous consent
  • SenateVoice vote
Data notes

The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.

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Summary

The Congressional Research Service’s plain-language summary of what the law does.

Agricultural Credit Improvement Act of 1992 - Amends the Consolidated Farm and Rural Development Act to state that the interest rate for loans sold into the secondary market may be lower than the interest rate on the retained portion, but may not exceed the average interest rate charged by the lender on loans made to farm and ranch borrowers.

Provides for Federal-State coordination of assistance for beginning farmers and ranchers.

Directs the Secretary of Agriculture (Secretary) to establish an Advisory Committee on Beginning Farmers and Ranchers.

Authorizes the Secretary to make grants for rural passenger transportation services or facilities.

Directs the Secretary to establish within the farm ownership loan program a ten-year down payment loan program for beginning farmers and ranchers. Sets forth loan terms.

Limits the availability of certain agricultural loans and guarantees to beginning farmers and ranchers during specified applicable periods.

Directs the Secretary to establish a program of assistance (ten-year maximum) for beginning farmers and ranchers. Requires an applicant to submit a farm operations plan (plan) to the appropriate county committee, which must be approved by the committee and by the Secretary.

Provides assistance in the form of operating and equipment loan guarantees. Gives applicants priority for equipment purchases in the Farmers Home Administration (FmHA) inventory.

Terminates assistance for avoidable failure to achieve plan goals.

Directs the Secretary to: (1) establish a program to encourage borrowers with operating loans or guarantees to graduate to private commercial credit sources; (2) develop a simplified application for loans $50,000 or less; (3) provide for the graduation of FmHA direct loan borrowers to FmHA guaranteed loans; and (4) maintain gender-based loan records and include women among the targeted loan recipients.

Sets forth provisions regarding the transfer of Indian lands pledged as FmHA loan collateral, including properties containing a hazardous substance.

Extends the period during which county committee loan eligibility certification remains in effect.

Sets forth debt service margin requirements including the establishment of a certified lenders program.

Defines "qualified beginning farmer or rancher" for assistance purposes.

Sets aside specified percentages of operating and ownership loan assistance for beginning farmers or ranchers.

Amends the Agricultural Credit Act of 1987 to increase the Federal assistance ceiling for State agricultural loan mediation programs.

Committees

The committees the bill was sent to, and what each did with it.

  • Agriculture Committee · House · discharged from, referred toSubcommittee: Environment, Credit and Rural Development Subcommittee
Data notes

A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.

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Timeline

From introduction to signing, newest first: the committees, the floor and the president. 13 actions.

  1. Oct 28, 1992Became lawBecame law · Became Public Law No: 102-554.
  2. Became lawBecame law · Signed by President.
  3. Oct 19, 1992PresidentPresident · Presented to President.
  4. Oct 8, 1992FloorFloor · Passed Senate without amendment by Voice Vote.
  5. Oct 4, 1992FloorFloor · Motion to reconsider laid on the table Agreed to without objection.
  6. FloorFloor · On passage Passed without objection.
  7. FloorFloor · Mr. de la Garza asked unanimous consent to discharge from committee and consider.
  8. FloorFloor · Considered by unanimous consent.
  9. CommitteeCommittee · Discharged from House Agriculture Committee
  10. CommitteeCommittee · Discharged from Environment, Credit and Rural Development Subcommittee of the House Agriculture Committee
  11. Oct 3, 1992CommitteeCommittee · Referred to House Agriculture Committee
  12. CommitteeCommittee · Referred to Environment, Credit and Rural Development Subcommittee of the House Agriculture Committee
  13. IntroducedIntroduced · Introduced in the House
Data notes

Shows the introduction, each committee and subcommittee step the source dates (referral, hearings, markup, report, discharge), and the floor, conference, presidential and became-law steps. Calendar placements, messages between the chambers, amendments and committee report numbers are not shown for laws before the 108th Congress. Two entries the source lists twice are shown once.

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Official record

The bill’s full text and every action, including introduction and committee steps, are on Congress.gov. Data through Oct 7, 2026.