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The Family Farms Preservation Act would increase the tax threshold to $6 million meaning fewer Illinois farmers would be subject to the tax Democrat, Republican lawmakers give support to ...
Nov. 28—A Champaign entrepreneur whose bankruptcy filing is being challenged by the state has filed a revised financial statement that details payments to family members. Last week's filing by ...
According to U.S. Courts data, U.S. farm bankruptcy rates increased by 20% in 2019, which is an eight-year high. There were a total of 595 Chapter 12 bankruptcies filed by family farmers.
The Federal Farm Loan Act of 1916 (Pub. L. 64–158, 39 Stat. 360, enacted July 17, 1916) was a United States federal law aimed at increasing credit to rural family farmers. [ 1 ] [ 2 ] It did so by creating a federal farm loan board, twelve regional farm loan banks and tens of farm loan associations.
Funk Farms was founded in 1824 by brothers Isaac and Absalom Funk in McLean County, Illinois. From a historical perspective, Abraham Lincoln was one of Funk Farms' first attorneys and later served in the Illinois House of Representatives with Isaac Funk. Isaac was a friend of Lincoln's and an early booster when Lincoln ran for U.S. president.
Louisville Joint Stock Land Bank v. Radford, 295 U.S. 555 (1935), was a decision by the Supreme Court of the United States that held that the Frazier–Lemke Farm Bankruptcy Act was an unconstitutional violation of the Fifth Amendment Takings Clause because it interfered with farmers' property rights in contracts they made with the United States. [1]
So far Rabo Agrifinance is the lone holdout, in its attempt to get more than $1 million owed from property loans.. Attorneys for many of the other businesses reported that their clients voted and ...
Family Farm Preservation was a right-wing agrarian populist organisation in the United States which promoted a grass-roots movement in order to prevent family farms from being foreclosed upon. The group has been linked to the earlier right-wing organization Posse Comitatus , and in some reports is alleged to be a direct outgrowth.