United States 116th Congress Status: Died 1 R cosponsors

HR 7483 — Flexible Financing for Rural America Act of 2020

Last action — Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Allows rural utility service providers to submit to the Department of Agriculture (USDA) a request to adjust the interest rate or modify the terms of certain loans. The request shall include a report summarizing how the adjustment or modification will assist the borrower in providing critical utility services to a rural community. Specifically, on receipt of a request, USDA must adjust the interest rate on the loan to match certain interest rates in effect when the bill is enacted for obligations of comparable maturity to the term remaining on the loan (or a higher rate requested by the borrower), and make modifications to the loan terms as necessary to address changes in the financial position of the borrower due to the COVID-19 (i.e., coronavirus disease 2019) public health emergency and to promote the financial sustainability of the borrower. In carrying out the adjustments or modifications, USDA shall not impose or collect any fee from, or impose any penalty on, a borrower. The bill also provides funding to implement the adjustments and modifications.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 7483 on the official United States source →

Action History

  1. Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

  2. Referred to the Committee on Agriculture, and in addition to the Committees on Energy and Commerce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

  3. Referred to the Committee on Agriculture, and in addition to the Committees on Energy and Commerce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

  4. Referred to the Committee on Agriculture, and in addition to the Committees on Energy and Commerce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

  5. Introduced in House

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

Agriculture and food Agricultural prices, subsidies, credit Cardiovascular and respiratory health Electric power generation and transmission Emergency medical services and trauma care Government lending and loan guarantees Infectious and parasitic diseases Interest, dividends, interest rates Internet and video services Public utilities and utility rates Rural conditions and development Telephone and wireless communication
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HR 7483 do?
Allows rural utility service providers to submit to the Department of Agriculture (USDA) a request to adjust the interest rate or modify the terms of certain loans. The request shall include a report summarizing how the adjustment or modification will assist the borrower in providing critical utility services to a rural community. Specifically, on receipt of a request, USDA must adjust the interest rate on the loan to match certain interest rates in effect when the bill is enacted for obligations of comparable maturity to the term remaining on the loan (or a higher rate requested by the borrower), and make modifications to the loan terms as necessary to address changes in the financial position of the borrower due to the COVID-19 (i.e., coronavirus disease 2019) public health emergency and to promote the financial sustainability of the borrower. In carrying out the adjustments or modifications, USDA shall not impose or collect any fee from, or impose any penalty on, a borrower. The bill also provides funding to implement the adjustments and modifications.
Who sponsors HR 7483?
HR 7483 is sponsored by Vicky Hartzler (R).
What is the current status of HR 7483?
This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 7483?
Track HR 7483 free on One Click Politics — get push/email alerts when it moves.

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