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 It superseded the Resettlement Administration during the Great Depression and operated until 2006.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 The legislation was originally enacted as the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 enrolling, enacting, or promulgating laws by a legislature, parliament, or analogous governing body. Before an item of legislation becomes law it may be known as a bill, and may be broadly referred ...
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 until Resignation of Richard Nixon, his resignation in 1974. A member of the Republican Party (United States), Republican ...
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,
farm operating loans, and
emergency disaster loans.
Also the Act authorizes rural development loans and grants. (7 U.S.C. 1921 et seq.).
See also
*
Consolidated Farm and Rural Development Act of 1961
References
External links
*
*
*
*
United States federal agriculture legislation
1972 in American law
92nd United States Congress
{{US-fed-statute-stub