Jim Sensenbrenner: “I will not oppose the motion to instruct conferees with respect to Section 1071 of the Senate amendment to H.R. 2646…”

“I will not oppose the motion to instruct conferees with respect to Section 1071 of the Senate amendment to H.R. 2646 because the House is on record as having supported a version of this measure on numerous occasions. I do, however, have concerns about the potential impact this motion may have on another pending conference. Section 1071 in effect would make Chapter 12, a specialized form of bankruptcy relief available to certain family farmers, a permanent component of the Bankruptcy Code retroactive through October 1, 2001. Without question, the family farmer plays a critical role in our Nation's health and economic well-being. Unfortunately, bad weather, rising energy costs, volatile marketplace conditions, competition for large agribusinesses, and the economic forces experienced by any small business affect the financial stability of some family farmers. In response to the specialized needs of small family farmers in financial distress, Chapter 12 of the Bankruptcy Code was enacted on a temporary basis as a part of the Bankruptcy Judges, United States Trustees and Family Farmer Bankruptcy Act of 1986.”