H.R.4129 - Rural Credit and Development Act of 1994103rd Congress (1993-1994)
|Sponsor:||Rep. Clayton, Eva M. [D-NC-1] (Introduced 03/24/1994)|
|Committees:||House - Agriculture|
|Latest Action:||07/21/1994 Subcommittee Hearings Held.|
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Subject — Policy Area:
- Agriculture and Food
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Summary: H.R.4129 — 103rd Congress (1993-1994)All Bill Information (Except Text)
Introduced in House (03/24/1994)
TABLE OF CONTENTS:
Title I: Credit for Rural Business Enterprises
Title II: Credit for Rural Infrastructure
Title III: Credit for Rural Housing
Rural Credit and Development Act of 1994 - Title I: Credit for Rural Business Enterprises - Amends the Farm Credit Act of 1971 to permit farm credit banks and production credit associations to purchase loans and loan interests from non-Farm Credit System institutions.
Enlarges the scope of farm-related business for credit availability purposes.
Authorizes banks for cooperatives to provide loans and other financial services to entities providing certain farm-related services or products under specified conditions.
Title II: Credit for Rural Infrastructure - Authorizes Farm Credit banks to make community facility loans.
Authorizes banks for cooperatives to finance utility-related services.
Title III: Credit for Rural Housing - Enlarges rural housing credit availability by: (1) increasing eligible population areas; (2) increasing farm credit bank and production credit association loan portfolios for non-farmer rural housing loans; and (3) authorizing loans to rural residents for personal, family, or household needs other than housing finance.