An Act to amend the Bankhead Jones Farm Tenant Act, as amended, so as to provide for a variable interest rate, second mortgage security for loans under title I, and for other purposes
PL 83-521 (S.1276), enacted 07/22/1954

68 
S T A T . ] 
PUBLIC LAW 521-JULY 22, 1954 
525 
(c) Except as provided by subsections (a) and (b) of this section, 
sections 3733, 3734, and 3736 of the Revised Statutes, as amended (40 
U. S. C. 259; 41 U. S. C. 12,14); section 1 of the Act of March 3,1877 
(19 Stat. 370; 40 U. S. C. 34) ; and any other provision of law (except 
applicable labor standards provisions) relating to the acquisition or 
disposal of real property, construction of buildings, or leasing of space, 
shall not apply to any of the functions performed by the Postmaster 
General in effectuating the purposes of this title. 
SEC. 208. No agreement shall be entered into under this title later 
than a date ten years after the date of enactment of this title. 
SEC. 209. The Postmaster General shall include in his annual report 
an account of transactions conducted during the applicable year 
pursuant to the provisions of this title. 
SEC. 210. This title may be cited as the "Post Office Department 
Property Act of 1954". 
Approved July 22, 1954. 
N o n-applicabil-
ity of statutes. 
Time limitation. 
Annual report. 
Short title. 
Public Law 520 
CHAPTER 561 
AN ACT 
To amend section 24 of the Federal Reserve Act, as amended. 
July 22, 1954 
[S. 3480] 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America im, Congress assembled^ That the fourth 
paragraph of section 24 of the Federal Reserve Act, as amended 
(U. S. C., 1952 edition, title 12, sec. 371), is amended by adding in 
clause (d) the words "or the Small Business Administration" after 
the words "the Housing and Home Finance Administrator"', and by 
adding the words "or of the Small Business Act of 1953," after the 
words "Housing Act of 1948, as amended,". 
Approved July 22, 1954. 
38 Stat. 
Stat. 312. 273; 65 
Public Law 521 
CHAPTER 562 
AN ACT 
To amend the Bankhead-Jones Farm Tenant Act, as amended, so as to provide 
for a variable interest rate, second mortgage security for loans under title I, 
and for other purposes. 
July 22, 1954 
[S. 1276] 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America in Congress assemhled^ That the Bankhead-
Jones Farm Tenant Act, as amended (7 U. S. C. 1001), is further 
amended as follows: 
(a) The words "less any prior lien indebtedness" shall be added at 
the end of and as a part of the parenthetical phrase of section 3 (a) 
(7 U. S. C. 1003 (a)), and the words "or second" shall be inserted after 
the word "first" where it appears in the first sentence of section 3 ( a ) . 
(b) The words "a rat© of interest not in excess of 5 per centum per 
annum as determined by the Secretary" shall be inserted in lieu of the 
words "the rate of 4 per centum per annum" in section 3 (b) (2) (7 
U. S. C. 1003 (b) (2)). 
(c) The words "shall not be in excess of 4 per centum per annum as 
determined by the Secretary" shall be inserted in lieu of the words 
"shall be 3 per centum per annum" in section 12 (c) (4) (7 U. S. C. 
1005b (c) (4)). 
(d) The words "pursuant to section 43" shall be deleted from sec-
tion 46 (7U. S. C. 1020). 
Bankhead*Jones 
Farm Tenant Act, 
amendments. 
50 Stat. 522 
7 u s e 1000. 
Loan terms. 
Interest rates. 
Direct loans. 
62 Stat. 534. 
M o r t g a g e 
in« 
surance. 
62 Stat. 534. 
7 u s e 1017.