Grainnet

Washington, DC. - This week, the U.S. House of Representatives passed the Agricultural Credit Act of 2009. The House Agriculture Committee approved both bills for consideration by the House earlier in March.

The Agricultural Credit Act of 2009 (H.R. 3509) would reauthorize funding for the state agricultural mediation grant program.

The grants fund state agricultural mediation programs that help agricultural producers, their creditors, and various U.S. Department of Agriculture (USDA) agencies address disputes including loan problems and USDA adverse decisions.

"The grant program for state agricultural mediation is a good-government program that helps thousands of Americans find practical solutions to loan problems and USDA adverse decisions," Agriculture Committee Chairman Collin Peterson said.

Chairman Peterson is the lead sponsor, and Agriculture Committee Ranking Member Frank Lucas is an original cosponsor of H.R. 3509, which has attracted bipartisan support.

"I am pleased that my colleagues in the House joined me in passing the Agriculture Credit Act.

"Like most of the country, the agriculture sector is currently experiencing increased financial stress, which has created a greater need for the service of the agriculture mediator program.

"This program provides our farmers and ranchers with a voluntary and low-cost service to mediate disputes that may arise between their creditors, or to address adverse decisions with USDA," said Ranking Member Lucas.

See Related Websites/Articles:

• U.S. House of Representatives

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