I am today signing into law S. 1930, the Farmers Home Administration Improvement Act of 1994. This Act is intended to give the Farmers Home Administration in the Department of Agriculture (USDA) an additional tool with which to reduce the substantial backlog of delinquent farm loan debt. It authorizes the Secretary of Agriculture to use USDA's Office of General Counsel or private attorneys acting under contract, in addition to the current authority to refer matters to the Department of Justice, to resolve loan delinquencies.
My Administration is committed to more aggressive Government action to resolve the problem of delinquent farm loan debt. There are too many borrowers, many of them of substantial means and not full-time farmers, who have been delinquent on their farm loans for years.
Resolving these cases will return resources to taxpayers and provide additional opportunities for beginning farmers.
Because the Attorney General has overall responsibility for the conduct of litigation by the United States, I have directed the Departments of Justice and Agriculture to work together to implement this authority.
WILLIAM J. CLINTON
The White House May 11, 1994.