An Act to amend and extend the Emergency Livestock Credit Act of 1974, and for other purposes.

[AI summary unavailable — showing source text] Permits, under the Emergency Livestock Credit Act, the Secretary of Agriculture to guarantee loans made by the Federal Financing Bank under such Act. Increases the percentage of the principal and interest of such loan that the Secretary may guarantee from 80 percent to 90 percent. Extends the maximum period in which such a loan must be repaid from five years to ten years. Increases the maximum amount of total loans the Secretary can guarantee for one applicant from $250,000 to $500,000. Provides that, in the administration of such Act, the Secretary may utilize any funds available, including the Agricultural Credit Insurance Fund, to pay for administrative expenses. Extends the authority of the Secretary of Agriculture to make guarantees of loans under such Act until December 31, 1976.…