Rural Development Act Amendments

Summary

Rural Development Act Amendments - Amends the Rural Development Act of 1972 to establish a National Rural Development Bank, subscribed by the United States, and a National Rural Development Bank Board to govern it. Empowers such Bank to organize and make available a stable, continuous, and dependable source of financial resources that will provide equity-participation investment, loans, and the discounting, rediscounting, refinancing, and purchase of loans extended by local rural financial institutions to the residents of rural areas, rural corporations, agricultural producer organizations and other cooperatives, rural industrial, and business enterprises, quasi-public bodies in rural areas, rural counties and municipalities, Indian tribes on Federal and State reservations or other federally recognized Indian tribal groups, and other units of rural local general and special purpose government that will establish, construct, and operate private and public facilities, works, and services in rural areas and will provide remunerative employment to increasing numbers of rural residents.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 7 June 1977

  Open at official source

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