To provide needed credit and financial services to rural residents, public services, and business enterprises, and for other purposes.
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.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR H2159-2160)
Referred to the House Committee on Agriculture.
Referred to the Subcommittee on Environment, Credit and Rural Development.
Executive Comment Requested from USDA.
Subcommittee Hearings Held.
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