A bill to amend the Consolidated Farm and Rural Development Act and the Emergency Livestock Credit Act of 1974 to authorize the Secretary of Agriculture to postpone for three years the principal and interest payments on emergency loans made, insured, or guaranteed under such Acts.

Amends the Consolidated Farm and Rural Development Act and the Emergency Livestock Credit Act of 1974 to authorize the Secretary of Agriculture to postpone the principal and interest payments on emergency loans made or insured under such Acts for up to three years. Authorizes the Secretary to extend the repayment period of operating loans under the Consolidated Rural Development Act up to a 20-year period in the event of any disaster occurring between January 1, 1975, and July 1, 1976.