Consolidated Farm and Rural Development Act of 1972
|Other short titles||Rural Development Act of 1972|
|Long title||An Act to provide for improving the economy and living conditions in rural America.|
|Enacted by||the 92nd United States Congress|
|Effective||August 30, 1972|
|Statutes at Large||86 Stat. 657|
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 (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 The legislation was originally enacted as the Consolidated Farmers Home Administration Act of 1961 (P.L. 87-128).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 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 (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.).
- This article incorporates public domain material from the Congressional Research Service document "Report for Congress: Agriculture: A Glossary of Terms, Programs, and Laws, 2005 Edition" by Jasper Womach.
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