The Bunny Farm Act

WRITTEN BY E. BUNNY (CDU-Frontier)

101st Congress of the United States

COSPONSORS

IN BRIEF

A bill to introduce a new loan program for farmers.

## Section 1. Name of Bill

This Bill will be known as the E. BUNNY FARM ACT for the duration of this bill, in all debates, and following enactment by the executive branch will carry the same title.

## Section 2. Findings and Definitions

FINDINGS

1. Whereas, small farmers need aid sometimes when businesses is struggling
2. Whereas, ensuring loans for these farmers ensures prosperity
3. Whereas, farmers produce vital food for all americans and people abroad
4. Whereas, helping farmers also helps the American people
5. Whereas, rates need to be adjusted for inflation

Section 3 - Bill Action 1

1. SECTION A: commodity rate for nonrecourse marketing assistance for each product shall be:
	1. Wheat $2.46 per bushel
	2. Corn $1.62 per bushel
	3. Grain Sorghum $1.62 per bushel
	4. Barley $1.62 per bushel
	5. Oats $1.17 per bushel
	6. Soybeans $7.02 per bushel
	7. Dairy: for feed. To calculate a rate for each cow, add SECTION A (vii (1)), SECTION A (vii (2)) and SECTION A (vii (3))
		1. The product is determined by multiplying 1.0728 by the price of corn per bushel. Per cow
		2. The product is determined by multiplying 0.00735 by the price of soybean meal per ton. Per cow
		3. The product is determined by multiplying 0.0137 by the price of alfalfa hay per ton. Per cow
		4. A cow may also be purchased through a US Government loan, under these conditions:
	8. Dairy: for the cow itself a farmer is to come to the US Department of Agriculture and request a loan, stating both the amount (s)he needs and the number of cows (s)he will purchase.
		1. The requirements are as follows:
			1. For each cow the maximum of a loan is $2,075.56 for each cow
			2. After 14 days of purchasing the dairy cow, a farmer is to submit the receipt to the US Department of agriculture
				1. Failure to do so within:
					1. 28 days will result in a fine for 25% the amount that the farmer requested
					2. 45 days will result in a fine for 33.3% the amount that the farmer requested
					3. 90 days will result in a fine for 50% the amount that the farmer requested
					4. 180 days will result in a fine for 100% the amount that the farmer requested
2. SECTION B: Notwithstanding any other provision of law, the monthly

Commodity Credit Corporation interest rate applicable to loans

provided for agricultural commodities by the Corporation shall be

100 basis points greater than the rate determined under the applicable interest rate formula in effect on DECEMBER 1ST, 1991

1. SUBPOINT I: If a farmer has a yearly income of under $37,000, the interest rate will be a steady rate of 1%.

1. SUBSECTION C: Loan payment back will be due to the federal government 180 days after the loan has been taken from the federal government.
	1. If a loan is not returned, the interest rate will compound by 2.5% monthly no matter the Commodity Credit Corporation’s rate.
		1. For a maximum of 365 days or One Year

Section 4  - Bill Action 2

1. This bill and all loan rates, commodity values, and methods will be valid from crop years 1991 to 1993
2. This bill will set up a monetary loan fund of $1.75 billion dollars for loans.

Final Section  - Bill Cost

TOTAL BILL IMPLEMENTATION COST - $1,750,000,000 originally, will pay for itself.

Section 1 of Bill - $0

Section 2 of Bill - $0

Section 3 of Bill - $0

Section 4 of Bill - $1,750,000,000

PREFERRED METHOD OF BILL FUNDING