Farm Credit Act of 1971

Farm Credit Act of 1971

Long title	An Act to further provide for the farmer-owned cooperative system of making credit available to farmers and ranchers and their cooperatives, for rural residences, and to associations and other entities upon which farming operations are dependent, to provide for an adequate and flexible flow of money into rural areas, and to modernize and consolidate existing farm credit law to meet current and future rural credit needs, and for other purposes.
Enacted by	the 92nd United States Congress
Effective	December 10, 1971
Citations
Public law	92-181
Statutes at Large	85 Stat. 583
Codification
Titles amended	31 U.S.C.: Money and Finance
U.S.C. sections created	31 U.S.C. ch. 7 § 742
Legislative history
Introduced in the Senate as S. 1483 by Herman Talmadge (D–GA) on April 22, 1971 Passed the House on November 1, 1971 (331-19, in lieu of H.R. 11232) Signed into law by President Richard M. Nixon on December 10, 1971

The Farm Credit Act of 1971 (Pub. L.Tooltip Public Law (United States) 92–181, 85 Stat. 583, enacted December 10, 1971) recodified all previous acts governing the Farm Credit System (FCS), a cooperatively owned government-sponsored enterprise (GSE) that provides credit primarily to farmers and ranchers.