The Consolidated Farm and Rural Development Act of 1972 or Con Act (P.L. 92-419) authorized a major expansion of USDA lending activities, which at the time were administered by

Farmers Home Administration The Farmers Home Administration (FmHA) was a U.S. government agency established in August 1946 to replace the Farm Security Administration. It superseded the Resettlement Administration during the Great Depression and operated until 2006. FmHA mi ...

(FmHA). The legislation was originally enacted as the Consolidated Farmers Home Administration Act of 1961 (P.L. 87-128). In 1972, this title was changed to the Consolidated Farm and Rural Development Act, and is often referred to as the Con Act. The H.R. 12931

legislation Legislation is the process or result of enrolled bill, enrolling, enactment of a bill, enacting, or promulgation, promulgating laws by a legislature, parliament, or analogous Government, governing body. Before an item of legislation becomes law i ...

was passed by the 92nd U.S. Congressional session and enacted by the 37th President of the United States

Richard Nixon Richard Milhous Nixon (January 9, 1913April 22, 1994) was the 37th president of the United States, serving from 1969 to 1974. A member of the Republican Party, he previously served as a representative and senator from California and was ...

on August 30, 1972. The Con Act, as amended, currently serves as the authorizing statute for USDA's agricultural and rural development lending programs. The Act includes current authority for the following three major

Farm Service Agency The Farm Service Agency (FSA) is the United States Department of Agriculture agency that was formed by merging the farm loan portfolio and staff of the Farmers Home Administration (FmHA) and the Agricultural Stabilization and Conservation Service ...

(FSA) farm loan programs:

farm ownership loans The Consolidated Farm and Rural Development Act (P.L. 92-419, Subtitle A, as amended, 7 U.S.C. 1922-1925), authorizes the Farm Service Agency (formerly FmHA) to make direct and guaranteed farm ownership loans to eligible family farmers. One of th ...

farm operating loans The Consolidated Farm and Rural Development Act (P.L. 92-419, Subtitle B, as amended; 7 U.S.C. 1941-1943), authorizes the Farm Service Agency (FSA) (formerly FmHA) to make direct and guaranteed farm operating loans. Applicants must be family-sized ...

, and

emergency disaster loans When a county has been declared a disaster area, by either the President or the Secretary of Agriculture, farmers in that county may become eligible for low-interest emergency disaster (EM) loans under the Emergency Disaster Loan Program. The loans ...

. Also the Act authorizes rural development loans and grants. (7 U.S.C. 1921 et seq.).

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* * * * United States federal agriculture legislation 1972 in law 1972 in the United States 92nd United States Congress {{US-fed-statute-stub

See also

References

External links