S. 3431 (93rd): Young Farmers Investment Act

Introduced:
May 02, 1974 (93rd Congress, 1973–1974)
Sponsor:
Sen. Richard “Dick” Clark [D-IA]
Status:
Died (Referred to Committee)
See Instead:

H.R. 16906 (same title)
Referred to Committee — Sep 26, 1974

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on May 2, 1974, in a previous session of Congress, but was not enacted.

Progress
Introduced May 02, 1974
Referred to Committee May 02, 1974
Cosponsors
3 cosponsors (3D) (show)
Committees

Senate Agriculture, Nutrition, and Forestry

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to amend the Consolidated Farm and Rural Development Act to assist young farmers to obtain real estate loans more easily under such act.

Summary

No summaries available.

Text

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Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

5/2/1974--Introduced.
Young Farmers Investment Act - Provides that direct loans may be made for acquiring and improving owner-operated farms without regard to monetary limitations but not in excess of the present market values of the farms as certified by the appropriate county committees.
States that the loan shall bear interest at a rate not in excess of 6 percent per annum.
Stipulates that an amount equal to not less than 50 percent of the loan may be amortized over a period of forty years.
Provides that the balance of any such loan shall become due and payable at the end of such period or extension thereof approved by the Secretary if the farm is then owned and operated by an eligible borrower or at such earlier date as the farm, or any interest therein, is transferred without the consent or approval of the Secretary to an eligible person.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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