To provide for enforcement of rules and regulations for the protection, development, and administration of the national forests and national grasslands, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Act of Forest and June 4, 1897, as amended (30 Stat. 11, 35; 16 U.S.C. 551), second full grasslands. paragraph, page 35, and section 32(f), title III, of the Bankhead- Protection. Jones Farm Tenant Act, as amended (50 Stat. 526; 7 U.S.C. 1011(f)), are further amended by addition of the following sentence in each case: "Any person charged with the violation of such rules and regulations may be tried and sentenced by any United States commissioner specially designated for that purpose by the court by which he was appointed, in the same manner and subject to the same conditions as provided for in title 18, United States Code, section 3401, subsections (b), (c), (d), and (e), as amended." Approved August 31, 1964. 62 Stat. 830. LEGISLATIVE HISTORY: HOUSE REPORT No. 1378 (Comm. on Agriculture). SENATE REPORT No. 1447 (Comm. on Agriculture & Forestry). June 15: Passed House. Aug. 18: Considered and passed Senate. (350) Public Law 89-237 October 4, 1965 An Act To amend the Federal Farm Loan Act and the Farm Credit Act of 1933 to provide means for expediting the retirement of Government capital in the Federal intermediate credit banks, including an increase in the debt permitted such banks in relation to their capital and provision for the production credit associations to acquire additional capital stock therein, to provide for allocating certain earnings of such banks and associations to their users. and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the Federal Federal Farm Farm Loan Act, as amended, is hereby amended Loan Act and (a) by inserting immediately before the semicolon at the end Farm Credit Act of paragraph (1) of section 202 (a) thereof (12 U.S.C. 1031(1)) of 1933, amendthe following: "or without collateral to the extent authorized 70 Stat. 663. under rules and regulations prescribed by the Farm Credit Admin istration"; (b) by striking out "Provided" and all that follows it in section ments. 203 (a) thereof (12 U.S.C. 1041) and substituting therefor the 49 Stat. 315. in section 205 (a) thereof (12 U.S.C. 1061 (a))— (i) by substituting "one-eighth" for "one-sixth" in the ninth (ii) by inserting the following as two separate paragraphs 70 Stat. 660. the Farm Credit Administration, may determine the amount of 79 STAT. 922. "Whenever the relative amounts of class B stock in a Federal retired for this purpose shall be the oldest stock held by the association and the bank shall pay the association therefor at the fair book value thereof not exceeding par and collect therefor from any production credit association to which such stock is transferred or reissued.”; and (d) in section 206 thereof (12 U.S.C. 1072) — (i) by striking out "equal to 25 per centum of the outstanding capital stock and participation certificates of the bank" from clause (3) of the first sentence of subsection (a); (ii) by striking out the second sentence of subsection (a) and inserting in lieu thereof as a separate paragraph the following: "Amounts applied to reserve account as provided in (3) above, either heretofore or hereafter, shall be allocated on the same patronage basis and have the same tax treatment as is provided in subsection (b) of this section for patronage refunds. Such allocations of reserve account shall be subject to a first lien as additional collateral for any indebtedness of the holders thereof to the bank and in any case where such indebtedness is in default may be retired and canceled for application on such indebtedness, and, in case of liquidation or dissolution of a holder thereof, such reserve account allocations may be retired, all as is provided for capital stock and participation certificates in section 205 of this Act. At the end of any fiscal year that the reserve account of any bank exceeds 25 per centum of its outstanding capital stock and participation certificates, such excess may be distributed, oldest allocations first, in class B stock and participation certificates issued as of the date of the allocations and, whenever the bank has no class A stock outstanding, also in money."; and (iii) by inserting immediately before the last sentence of subsection (c) the following new sentence: "Any of the reserve established pursuant to subsection (a) of this section shall be paid to the production credit associations and other financing institutions to which such reserve is allocated on the books of the bank.". SEC. 2. The Farm Credit Act of 1933, as amended, is amended (a) by adding the following at the end of subsection (b) of section 22 thereof (12 U.S.C. 1131f (b)): "When so specified in the approval by the Federal intermediate credit bank, such dividends may be paid even though the amount in the surplus account provided for in subsection (a) is less than the minimum prescribed by the bank. If the bylaws of a production credit association so provide, (1) any remaining net earnings at the end of a fiscal year may be distributed on a patronage basis in class A stock of the association and, when the United States does not hold class A stock in the association, also in money, and (2) any part of the earnings for the fiscal year in excess of operating expenses held in the surplus account may be allocated to borrowers on a patronage basis. With the approval of the Federal intermediate credit bank, amounts so allocated may be distributed, oldest allocations first, in class A stock of the association issued as of the date of the allocation and, when the United States does not hold class A stock in the association, also in money. As used in the second preceding sentence on a patronage basis' means in the proportion that the amount of interest earned on the loans of each borrower bears to the total interest earned on the loans of all borrowers during the the fiscal year."; and (b) by adding the following as a separate paragraph at the end of section 23 thereof (12 U.S.C. 1131g): "As a further means of providing capital, a production credit association may, upon such terms and conditions as may be provided in its bylaws, require borrowers to invest in an equity reserve in the 1 ་ 79 STAT. 924 association. Amounts so invested by each borrower shall be subject LEGISLATIVE HISTORY: HOUSE REPORT No. 114 (Comm. on Agriculture). Mar. 15: Considered and passed House. Aug. 23: Considered and passed Senate, amended. Public Law 89-240 89th Congress, S. 1766 October 7, 1965 An Act To amend the Consolidated Farmers Home Administration Act of 1961 to authorize the Secretary of Agriculture to make or insure loans to public and quasi-public agencies and corporations not operated for profit with respect to water supply, water systems, and waste disposal systems serving rural areas and to make grants to aid in rural community development planning and in connection with the construction of such community facilities, to increase the annual aggregate of insured loans thereunder, and for other purposes. 79 STAT. 931 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 306 (a) Consolidated of the Consolidated Farmers Home Administration Act is amended to Farmers Home read as follows: Administration Act of 1961, 7 USC 1926. "(1) The Secretary is also authorized to make or insure loans to associations, including corporations not operated for profit, and public and quasi-public agencies to provide for the application or establishment of soil conservation practices, shifts in land use, the conservation, development, use, and control of water, and the installation or improvement of drainage or waste disposal facilities, and recreational ations, etc. developments, all primarily serving farmers, ranchers, farm tenants, farm laborers, and other rural residents, and to furnish financial assistance or other aid in planning projects for such purposes. ations, corpor "(2) The Secretary is authorized to make grants aggregating not Limitation. to exceed $50,000,000 in any fiscal year to such associations to finance specific projects for works for the development, storage, treatment, purification, or distribution of water or the collection, treatment, or disposal of waste in rural areas. The amount of any grant made under the authority of this paragraph shall not exceed 50 per centum of the development cost of the project to serve the area which the association determines can be feasibly served by the facility and to adequately serve the reasonably foreseeable growth needs of the area. "(3) No grant shall be made under paragraph 2 of this subsection Conditions. in connection with any facility unless the Secretary determines that the project (i) will serve a rural area which is not likely to decline in population below that for which the facility was designed, (ii) is designed and constructed so that adequate capacity will be or can be made available to serve the present population of the area to the extent feasible and to serve the reasonably foreseeable growth needs of the area, or (iii) is necessary for orderly community development consistent with a comprehensive community water or sewer development plan of the rural area and not inconsistent with any planned development under State, county, or municipal plans approved as official plans by competent authority for the area in which the rural community is located and the Secretary shall establish regulations requiring the submission of all applications for financial assistance under this Act to the county or municipal government in which the proposed project is to be located for review and comment by such agency within a designated period of time. Until October 1, 1968, the Secretary may make grants prior to the completion of the comprehensive plan, if the preparation of such plan has been undertaken for the area. (354) |