Rural Equal Aid Act
Latest action · Sep 11, 2020 Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedAug 11, 2020
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Rural Equal Aid Act
This bill requires the Department of Agriculture (USDA) to pay the principal, interest, and any associated fees owed on loans made under certain rural development loan programs for a six-month period.
USDA must also encourage the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and state bank regulators to not require lenders to increase their reserves on account of receiving such payments made by USDA. USDA must waive statutory limits on maximum loan maturities for certain loan durations where the lender provides a deferral and extends the maturity of such loans and, when necessary to provide more time because of difficulties during the COVID-19 (i.e., coronavirus disease 2019) pandemic, extend lender site visit requirements.
Cosponsors 5
Members who signed on, in the order they did. All signed on Aug 11, 2020.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-GA | Austin Scott | Original | Aug 11, 2020 |
| D-ME | Jared F. Golden | Original | Aug 11, 2020 |
| D-DE | Lisa Blunt Rochester | Original | Aug 11, 2020 |
| R-CO | Scott R. Tipton | Original | Aug 11, 2020 |
| R-OH | Troy Balderson | Original | Aug 11, 2020 |
Actions 3
Everything that happened, newest first.
- Sep 11, 2020Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
- Aug 11, 2020Introduced in House
- Aug 11, 2020Referred to the House Committee on Agriculture.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 4470 | Rural Equal Aid Act of 2020 | Related bill | Aug 6, 2020 |
Subjects
Assigned by the Library of Congress. Policy area: Agriculture and Food.
- Agricultural prices, subsidies, credit
- Agriculture and Food
- Bank accounts, deposits, capital
- Banking and financial institutions regulation
- Cardiovascular and respiratory health
- Emergency medical services and trauma care
- Government lending and loan guarantees
- Infectious and parasitic diseases
- Rural conditions and development
- Small business
- Solid waste and recycling
- Water quality
- Water resources funding
- Water use and supply
Text 1
Each version as it was printed, newest first.
- Aug 11, 2020Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.