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Excerpt from, Report No. 97-260, Making Continuing Appropriations for Fiscal Year 1982, relating to the Smithsonian Institution.

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POR ED LIQ IDATI0 1 OT TH A R

Th h be n ~dvi ed th m n ~ rm ho h

F rm rs Home dministr tion production l~o n m on h

rg of

being Fore d

to

d

cl r b nkru c bee u of rm

Hom procedures. This

situs

ion occu u r c nt b d cro

y

rs and the co

t price

qu , ze h

y ,

I

~t

m n f: rm hort of

a h and h -avily in debt.

Whil the problem has been very rious in h p , it h now reached critical proportions. Approxima I 75 perc

nt of II

~

rm-

ers must borrow for production ur ses. urth~ermore,

th

r

production loan

is

approximate y ,000

and th av r

g in t

r

te

is o er 14 percent and in som~ cases ov r 20 percent. In 1 1

farm~ers will h,a e to pay over $10 billi~on in interest cos alon .

Wh~en these costs are coupled with

today's

low commodity pric re rtedly, the lowest in 50 yean; on a parity basis m~ost farm wi

1

have great difficult remaining in business.

Often,

however, th~e arm~er

has assets

in excess

of his

ou tand·

ing indebtedn~ess to Farmers Home and others. If those individuals are forced to liquidate their assets because of bankru tcy or

to

a oid bankruptc , because of today's high interest and s ortag of cash by other far e~, only a fraction of the tru~e alue will be r

· co ered through a orced sale. Furthermore their 1 nd will likely end up in the hands of the large land owners, large orporations or

the Federal government.

Un~d,er law the Farme~ Home Administration ha existing au- thority to h~elp meet this problem. Section 19~81 of title VII of the

United States Code for instance, sets forth some of the

Secretary

of Agriculture' auth~ority in this area. It provid~es a means of refi-

nan~cing stretching out the repayment date, and perhaps postpon-

ing a year s paym~ents and interest, when the facts ju

tify

such action. This is all the m~ore essential in view of the fact that the

1977 Farm Bill ex ires on September 30, 1981.

Th~e conf7erees irect the Department to strengt en th~e local su- pervision system where close attention may be given and to do ev-

er

thing

reasonable

to help

avoid

bankruptcy or £orced sal~e of

assets.

The econ~omic recovery of the ation depends o keeping people

producing not forcing them into bankru tcy.

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11

Amendment No. 44: Reported in technical disagreement. The managers on the part of the House will offer a motion to recede and concur in the amendment of the Senate with an amendment, as follows:

In lieu of the matter inserted by said amendment, insert the fol- lowing:

Sec. 138. Notwithstanding any other provision

.

of this J·oin t resolu- tion,

~$125,000,000

shall be available for expenses necessar · for the participation of the United States in a Multinational Force a

.

nd Ob-

servers to implement the Treaty of Peace

betu ~een

Eg)pt and Israel:

Provided, That the facilities constructed b)

'

u

.

se of these funds shall not be available for participation of US. troops in the Multination- al Force and Observers in the Sinai without prior auth. orization b .. v

Congress for the participation of US. troops.

The managers on the part of the Senate will move to concur in the amendment of the House to the amendment of the Senate.

The managers expect that a new account entitled "Multinational Force and Observers in the Sinai" will be established for these

funds. .

Amendment No. 45: Deletes provision proposed by the Senate which would have appropriated $2,400,000,000 to carry out title II of the Federal Water Pollution Control Act, as amended, contin- gent upon enactment into law of Presidentially requested legisla-

tive reforms and receipt of a 1982 budget amendment.

The conferees support the submission of a budget request for the Environmental Protection Agency's construction grants program after the enactment of the Administration's legislative reforms.

The conferees are concerned that a disruptive and costly funding lapse might occur between the time a budget request is submitted

and a funding bill is enacted. Consequently, the conferees are com- mitted to providing adequate funding in the first legislative vehicle available.

Amendment No. 46: Reported in technical disagreement. The managers on the part of the House will offer a motion to recede and concur in the amendment of the Senate with an amendment which changes section number- "140" to "139". This amendment

provides for an increase in the deductions for certain living ex- penses.

The managers on the part of the Senate will move to concur in the amendment of the House to the amendment of the Senate.

Amendment No. 47: The conference agreement changes only the section numbers. The amendment provides for Senate housekeep-

ing matters as proposed by the Senate and in accordance with long standing practice wherein each body determines its own housekeep-

ing requirements and the other concurs without intervention.

JAMIE L. WHI'ITEN, .

EDWARD

P.

BoLAND,

(ExcEPT

No. 36

AND

No. 46),

WILLIAM

H.

NATCHER,

NEAL SMITH,

JOSEPH P. ADDABBO,

CLARENCE

D.

LONG,

SIDNEY

R.

YATES,

(ExcEPT

No. 36

AND

No. 46),

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