HR 5435 · 94th Congress · Emergency Management

Consolidated Farm and Rural Development Act Emergency Loan Amendments

Introduced 1975-03-25· Sponsored by Rep. Horton, Frank J. [R-NY-34]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Agriculture.(1975-03-25)

Plain Language Summary

[AI summary unavailable — showing source text] Consolidated Farm and Rural Development Act Emergency Loan Amendments - Expands the Consolidated Farm and Rural Development Act to provide loans to cover crop losses and all other losses resulting from natural disasters relating to agricultural endeavors. Increases the rate of interest charged on loans made under this Act from three to five percent per annum and sets a twenty year period for repayment of such loans. Authorizes the Secretary of Agriculture to suspend repayment of such loans for a period of five years if the Secretary determines it is necessary to avoid severe financial hardships.…

Summarized by Claude AI · Non-partisan · For informational purposes only