Consolidated Farm and Rural Development Act of 1972

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
Citations
Public law	92-419
Statutes at Large	86 Stat. 657
Codification
Titles amended	7 U.S.C.: Agriculture
U.S.C. sections amended	7 U.S.C. ch. 50 § 1921 et seq.
Legislative history
Introduced in the House as H.R. 12931 Passed the House on February 23, 1972 (150-224) Passed the Senate on April 20, 1972 (78-0) Reported by the joint conference committee on July 27, 1972; agreed to by the House on July 27, 1972 (340-36) and by the Senate on August 17, 1972 (73-0) Signed into law by President Richard M. Nixon on August 30, 1972

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 The legislation was originally enacted as the Consolidated Farmers Home Administration Act of 1961 (P.L. 87-128).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 H.R. 12931 legislation was passed by the 92nd U.S. Congressional session and enacted by the 37th President of the United States Richard Nixon on August 30, 1972.^[1]

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.).