S. 4655

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4655 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4655 To allow the Farm Credit Administration the option to examine low-risk Farm Credit System institutions under a 24-month cycle. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 2, 2026 Mr. Cornyn (for himself and Mr. Kaine) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry _______________________________________________________________________ A BILL To allow the Farm Credit Administration the option to examine low-risk Farm Credit System institutions under a 24-month cycle. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Farm Credit Adjustment Act''. SEC. 2. FARM CREDIT ADMINISTRATION OPTION TO EXAMINE LOW RISK FARM CREDIT SYSTEM INSTITUTIONS ON A 24-MONTH CYCLE. (a) In General.--Section 5.19(a) of the Farm Credit Act of 1971 (12 U.S.C. 2254(a)) is amended in the first sentence-- (1) by striking ``in no event'' and inserting ``not''; and (2) by inserting ``, except that the Farm Credit Administration, in its sole discretion, may extend the time period between mandatory examinations of institutions deemed by the Farm Credit Administration to be low-risk institutions to not more than 24 months'' before the period. (b) Effective Date.--The amendments made by subsection (a) shall take effect on October 1, 2026. <all>