Summary: H.R.4799 — 94th Congress (1975-1976)All Information (Except Text)

Bill summaries are authored by CRS.

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Reported to Senate with amendment(s) (10/09/1975)

(Reported to Senate from the Committee on Agriculture and Forestry with amendment, S. Rept. 94-424)

Provides, under the Rural Electrification Act, that guaranteed government loans, including the related guarantee, may be assigned to the extent provided in the contract of guarantee executed by the Administrator of the Rural Electrification Administration under such Act. States that the assignability of such loan and guarantee shall be governed exclusively by the contract of guarantee.

Requires that the Secretary of Agriculture testify annually before the House Committee on Agriculture and the Senate Committee on Agriculture and Forestry and provide justification in detail of the amount requested in the budget to be appropriated for the next fiscal year for the purpose of administering the Rural Electrification Act.