Farmers’ Home Administration

Farmers’ Home Administration To carry into effect the provisions of titles I, II, and the related provisions of title IV of the Bankhead-Jones Farm Tenant Act, as amended (7 U.S.C. 1000–1031); the Farmers’ Home Administration Act of 1946 (7 U.S.C. 1001, note; 31 U.S.C. 82h: 12 U.S.C. 371; 35 D.C. Code 535; 60 Stat. 1062–1080); the Act of July 30, 1946 (40 U.S.C. 436–439): the Act of August 28, 1937, as amended (16 U.S.C. 590r–590x–3), for the development of facilities for water storage and utilization in the arid and semiarid areas of the United States; the provisions of title V of the Housing Act of 1949, as amended (42 U.S.C. 1471–1483), relating to financial assistance for farm housing; the Rural Rehabilitation Corporation Trust Liquidation Act, approved May 3, 1950 (40 U.S.C. 440–444); the items “Loans to farmers, 1948 flood damage” in the Act of June 25, 1948 (62 Stat. 1038), and “Loans to farmers, property damage” in the Act of May 24, 1949 (63 Stat. 82); the collecting and servicing of credit sales and development accounts in water conservation and utilization projects (53 Stat. 685, 719), as amended and supplemented (16 U.S.C. 590y, z—1 and z—10); and the Act to direct the Secretary of Agriculture to convey certain mineral interests, approved September 6, 1950 (7 U.S.C. 1083–1039), as follows: 73 Stat. 176 loan authorizations For loans (including payments in lieu of taxes and taxes under section 50 of the Bankhead-Jones Farm Tenant Act, as amended, and advances incident to the acquisition and preservation of security of obligations under the foregoing several authorities, except that such advances under title V of the Housing Act of 1949, as amended, shall be made from funds obtained under section 511 of that Act, as amended): Title I and section 43 of title IV of the Bankhead-Jones Farm Tenant Act, as amended, $24,000,000, of which not to exceed $2,500,000 may be distributed to States and Territories without regard to farm population and prevalence of tenancy, in addition to the amount otherwise distributed thereto, for loans in reclamation projects and to entry men on unpatented public lands; title II of the Bankhead-Jones Farm Tenant Act, as amended, $180,000,000; the Act of August 28, 1937, as amended, $2,000,000: Provided, That not to exceed the foregoing several amounts shall be borrowed in one account from the Secretary of the Treasury in accordance with the provisions set forth under this head in the Department of Agriculture Appropriation Act, 1952: Provided further, That an additional amount, not to exceed $20,000,000, may be borrowed under the same terms and conditions to the extent that such amount is required during fiscal year 1960 under the then existing conditions for the expeditious and orderly conduct of the loan programs under the Bankhead-Jones Farm Tenant Act, as amended, not to exceed $5,000,000 of which shall be available for loans under title I and section 43 of title IV of such Act, as amended. salaries and expenses For making, servicing, and collecting loans and insured mortgages, the servicing and collecting of loans made under prior authority, the liquidation of assets transferred to Farmers’ Home Administration, and other administrative expenses, $30,744,750, together with a transfer of not to exceed $1,000,000 of the fees and administrative expense charges made available by subsections (d) and (e) of section 12 of the Bankhead-Jones Farm Tenant Act, as amended (7 U.S.C. 1005 (b)), and section 10(c) of the Act of August 28, 1937, as amended.