Section, Pub. L. 87–128, title III, § 328, as added Pub. L. 92–385, § 5, Aug. 16, 1972, 86 Stat. 557, provided for emergency loans for major and natural disasters occurring between June 30, 1971, and July 1, 1973, providing in: subsec. (a) for cancellation of existing loans and the considerations in making grants, loans, and refinancing of loans; subsec. (b) for loans for loss or damage to agricultural crops; subsec. (c) for amount of loans and interest rates; subsec. (d) for availability of benefits irrespective of age; subsec. (e) for availability of benefits irrespective of approval date; and subsec. (f) for report to Congress.

Statutory Notes and Related Subsidiaries

Loans to Eligible Applicants in Areas Determined as Natural Disaster Areas After January 1, 1972, and Before December 27, 1972; Time for Acceptance of Applications

Pub. L. 93–24, § 8, Apr. 20, 1973, 87 Stat. 25, provided that:

“Notwithstanding the repeal herein of

section 5 of Public Law 92–385 [this section], and notwithstanding any other provision of law, the Secretary of Agriculture shall make loans in accordance with the provisions of

section 5 of Public Law 92–385 [this section] to eligible applicants in natural disaster areas determined or designated by the Secretary of Agriculture where such determination or designation had been made after

January 1, 1972 and prior to

December 27, 1972. The authority to accept applications for such loans shall expire 18 days after the effective date of this Act [

Apr. 20, 1973].”

Continuation of Secretary’s Authority With Respect to Natural Disasters Occurring After December 26, 1972, and Prior to April 20, 1973

Pub. L. 93–237, § 4, Jan. 2, 1974, 87 Stat. 1024, provided that:

“Notwithstanding the provisions of

Public Law 93–24 [which repealed this section], the Secretary of Agriculture shall continue to exercise his authority with respect to natural disasters which occurred after

December 26, 1972, but prior to

April 20, 1973, in accordance with the provisions of

section 5 of Public Law 92–385 [this section] as such section was in effect prior to

April 20, 1973.”