Page:United States Statutes at Large Volume 50 Part 1.djvu/547

 522 Certificate of the Senate. July 22, 1937 [H. H. 7662] [Public, No. 210] Th e Bankhe ad- Jones Farm Tenant Act. Title I-Farm ten- an t provisi ons. Power of Secretary of Agricult ure. Loans for acquisi- tion of farms, etc. 75TH CO NGRESS, 1ST SESSION- CHS. 5 16, 51 7JULY 22, 1997 interest rate on Land Bank Commissioner's loans for a period of two years", returned by the President of the United States with his objections, to the House of Representatives, in which it originated, it was Resolved, That the said bill pass, two-thirds of the House of Representatives agreeing to pass the same . Attest SOUTH TRIMBLE Clerk . I certify that this Act originated in the House of Representatives . SOUTH TRIMBLE Clerk . IN THE SENATE OF THE UNITED ST ATE S, July 22, 1937 . The Senate having proceeded to reconsider the bill (H. R. 6763) "An Act to extend for one additional year the 31/2 -per-centum interest rate on certain Federal land-bank loans, to provide a 4-per-centum interest rate on such loans for the period July 1, 1938, to June 30,1939, and to provi de for a 4-pe r-centum inte rest rate on L and Bank Com- missioner's loans for a period of two years", returned by the Presi- dent of the United States to the House of Representatives, in which it originated, with his objections, and passed by the House on a reconsideration of the same, it was Resolved, That the said bill, pass, two-thirds of the Senators present having voted in the affirmative . Attest EDWIN A. HA LSEY Secretary . AN ACT To create the Farmers' Home Corporation, to promote more secure occupancy of farms and farm homes, to correct the economic instability resulting from some present forms of farm tenancy, and for other purposes . Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as "The Bankhead-Jones Farm Tenant Act" . TITLE I-FARM TENANT PROVISIONS POWER OF SECRETARY S ECTION 1. (a) The Secretary of Agriculture (hereinafter referred to as the "Secretary") is authorized to make loans in the United States and in the Territories of Alaska and Hawaii and in Puerto Rico to persons eligible to receive the benefits of this title to enable such persons to acquire farms. (b) Only farm tenants, farm laborers, sharecroppers, and other individuals who obtain, or who recently obtained, the major portion of t heir inc ome from far ming ope rati ons shal l be eli gibl e to rec eive the ben efits o f this title. In making available the benefits of this title, the Secretary shall give preference to persons who are married, or who have dependent families, or, wherever practicable, to persons who are able to make an initial down payment, or who are owners of livestock and farm implements necessary successfully to carry on farming operations. No person shall be eligible who is not a citizen of the United States. [CHAPTER 517]