A bill to amend the Consolidated Farm and Rural Development Act to provide additional disaster relief with regard to certain disasters.

Authorizes the Secretary of Agriculture to cancel one-half the prinicpal, or $10,000 (whichever is lesser), of loans made to farmers or ranchers for natural disaster relief for disasters occuring during the period beginning January 9, 1975, and ending January 12, 1975.

Limits the interest rate chargeable on the balance of the principal of such loans to one percent per year. (Adds 7 U.S.C. 1969)