To permit the proceeds of certain agriculture grants to be used for a revolving loan fund, and for other purposes.
Last action on Jul 28, 2006Referred to the House Committee on Agriculture.
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Summary
Permits any nonprofit corporation incorporated on March 14, 1995, to: (1) use the proceeds from certain grants awarded to it under the Consolidated Farm and Rural Development Act and the National Forest-Dependent Rural Communities Economic Diversification Act of 1990 to establish and operate a revolving loan fund; and (2) on dissolution of such fund, retain fund amounts.
States that such a fund shall remain in operation for a period ending not earlier than five years after the date of enactment of this Act.
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