VESTAL, NY (WSKG) – New York 19th District Congressman Antonio Delgado has had his first sponsored bill signed into law.
Delgado represents part of the Southern Tier and Hudson Valley. The Democrat’s bill makes it easier for farmers to reorganize debt through Chapter 12 bankruptcy rules.
Chapter 12 is designed specifically to help farmers through financial problems and, hopefully, avoid foreclosure.
Among other things, the measure increases the debt cap from just over three-million dollars to ten-million dollars. Supporters say this better reflects increasing land values and the cost of running a farm operation.
“Today is a victory for our small and mid-size farmers who now have the flexibility to reorganize their debt and continue operations in what continues to be a challenging time for agriculture,” Delgado said in a statement.
The measure passed the house in July, the Senate in early August and was signed by President Trump late last week.