A bill to amend the Consolidated Farm and Rural Development Act, to provide an alternate method of making loans for acquisition and improvements of the farm, needed by farm families, including young farmers, and to provide the borrower family with adequate standards of living and the consumer with reasonable prices for dairy and other agricultural products, as well as to maintain and improve national health, and for other purposes.
Young Farmers Investment Act of 1979 - Amends the Consolidated Farmers Home Administration Act of 1961 to authorize the Secretary of Agriculture to make direct and insured loans to farmers with low net income or low net worth for the acquisition and improvement of owner-operated farms. Grants special consideration to young farmers with respect to such loans. Limits the amount of any such loan to the present market value of the farm as improved. Permits the amortization of at least 50 percent of such loan over a period of 40 years.
Introduced in House
Introduced in House
Referred to House Committee on Agriculture.
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