Honey Recourse Loan Program: Difference between revisions

Latest revision as of 22:47, 1 March 2025

The Honey Recourse Loan Program was a program authorized by the emergency provisions of the fiscal year (FY) 1999 United States Department of Agriculture (USDA) appropriations act (P.L. 105-277) that made recourse loans based on a national average rate of $0.56 per pound on 1998-crop honey. Final date to obtain a loan was May 7, 1999. The producer-owned honey was required to be merchantable and stored in acceptable containers. Loans carried an administrative fee of $0.009 per pound, bore an interest rate 1% higher than the Commodity Credit Corporation (CCC) borrowing interest rate, and matured not later than nine months following disbursement.

References

This article incorporates public domain material from Jasper Womach, Report for Congress: Agriculture: A Glossary of Terms, Programs, and Laws, 2005 Edition, Congressional Research Service, http://ncseonline.org/nle/crsreports/05jun/97-905.pdf

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 {{Short description|Agriculture program making honey-based recourse loans}}
-The '''Honey Recourse Loan Program''' was a program authorized by the emergency provisions of the [[fiscal year]] (FY) 1999 [[United States Department of Agriculture]] (USDA) appropriations act (P.L. 105-277) that made recourse loans based on a national average rate of $0.56 per pound on 1998-crop [[honey]]. Final date to obtain a loan was May 7, 1999. The producer-owned honey was required to be merchantable and stored in acceptable containers. Loans carried an administrative fee of $0.009 per pound, bore an interest rate 1% higher than the [[Commodity Credit Corporation]] (CCC) borrowing interest rate, and matured not later than nine months following disbursement.
+The '''Honey Recourse Loan Program''' was a program authorized by the emergency provisions of the fiscal year (FY) 1999 [[United States Department of Agriculture]] (USDA) appropriations act (P.L. 105-277) that made recourse loans based on a national average rate of $0.56 per pound on 1998-crop [[honey]]. Final date to obtain a loan was May 7, 1999. The producer-owned honey was required to be merchantable and stored in acceptable containers. Loans carried an administrative fee of $0.009 per pound, bore an interest rate 1% higher than the [[Commodity Credit Corporation]] (CCC) borrowing interest rate, and matured not later than nine months following disbursement.
 == References ==