A bill to amend the Consolidated Farm and Rural Development Act.

Summary

Provides, under the Consolidated Farm and Rural Development Act, that the Secretary of Agriculture, in making or insuring loans for farm purchase, shall give preference to persons who are not owner-operators of a farm or to owner-operators of a farm who do not rely on such farm for their principal source of income. Provides that the Secretary may make or insure any such loan up to $100,000,000 or 90 percent of the value of the farm being purchased whichever is greater. Provides that such loans shall be repayed in 480 monthly installments, beginning on the first day of the first month the loan is made. Authorizes to be appropriated such sums as may be necessary to carry out the provisions of this Act.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 20 June 1974

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.