An Act to amend the Consolidated Farmers Home Administration Act of 1961, as amended, to provide for loans for enterprises to supplement farm income and for farm conversion to recreation, remove the annual ceiling on insured loans, increase the amount of unsold insured loans that may be made out of the fund, raise the aggregate annual limits on grants, establish a flexible loan interest rate, and for other purposes
PL 90-488 (S.1504), enacted 08/15/1968

770 
PUBLIC LAW 90-488-AUG. 15, 1968 
[82 STAT. 
EFFECTIVE DATE 
SEC. 2. This Act shall become effective one hundred and eighty days 
after enactment hereof, except that the repeal of the mandatory inspec-
tion provisions with respect to grain shipped or delivered for shipment 
in interstate commerce shall become effective thirty days after enact-
ment hereof and the provisions of sections 6(a) and 13(a) (5) of the 
Ante, pp. 763, 
United States Grain Standards Act, as amended by this Act shall 
then become effective with respect to such grain. 
Approved August 15, 1968. 
767 
Public Law 90-488 
August 15, 1968 
AN ACT 
^^' ^^^"^^ 
To amend the Consolidated Farmers Home Administration Act of 11)61, as 
amended, to provide for loans for enterprises to supplement farm income and 
for farm conversion to recreation, remove the annual ceiling on insured loans, 
increase the amount of unsold insured loans that may be made out of the fund, 
raise the aggregate annual limits on grants, establish a flexible loan intei-est 
rate, and for other purjjoses. 
\ 
Be It enacted hy the Senate and Ilouae of Reprenentatives 
of the 
Consolidated 
> United States of America In ('Ongress asnemhled^ That the Consoli-
Ad!^nistra°i^n 
dated Farmers Home Administration Act of 1961, as amended, is fur-
Act o
f 1961, 
ther amended as follows: 
^"75"stL^t"307. 
"^^^^ ^^^^ sentence of section 808 is amended to read as follows: 
7 use 1923. 
"Loans may be made or insured under this subtitle for (1) acquiring, 
enlarging, or improving farms, including farm buildings, land and 
/ 
water development, use and conservation, (2) recreational uses and 
f 
facilities, (8) enterprises needed to supplement farm income, (4) refi-
nancing existing indebtedness, and (5) loan closing costs." 
7 use 1924. ^ 
gEc. 2, Sectiou 804 is amended by inserting " ( a ) " after "subtitle", 
i 1 
and by changing the period at the end of the section to a comma and 
' 
adding the following: "not including recreational uses and facilities, 
\ 
and (b) without regard to the requirements of sections 802 (2) and 
7 use 1922. 
^3)^ tQ individual farmowners or tenants to finance outdoor recrea-
tional enterprises or to convert to recreational uses their farming or 
\ 
lunching operations, including those heretofore financed under this 
^
. title." 
79 Stat. 931. 
gcc. 3. Sectiou 806(a) (2) is amended by changing "$50,000,000" to 
7 use 1926. 
-$100,000,000". 
SEC. 4. The last sentence of section 306(a) (8) is amended by chang-
ing "1968" to "1971". 
SEC. 5. Section 806(a) (6) is amended by changing "$5,000,000" to 
J "$15,000,000". 
I 
SEC. 6. Section 808 is amended by striking the word "I^ans" from 
1 the beginning of the first sentence and inserting in lieu thereof "Until 
I October 1, ip71, loans" and by striking the comma after the word 
"Secretary" and the phrase "aggregating not more than $450,000,000 
in any one year,". 
7 use 1928. 
82 STAT. ] 
PUBLIC LAW 90-489-AUG. 16, 1968 
771 
7 u s e 1929. 
SEC. 7. Section 809(f) is amended by changing "$50,000,000" to 
"$100,000,000". 
SEC. 8. Section 312 is amended by (a) revising subsection (4) to 
7 use 1942. 
read as follows: "(4) financing land and water development, use, and 
conservation,"; (b) inserting new items (5) and (6) to read as 
follows: "(5) without regard to the requirements of section 311 (2) 
and (3), to individual farmers or ranchers to finance outdoor recrea- 
7 use 1941. 
tional enterprises or to convert to recreiational uses their farming or 
rancihing operations, including those heretofore financed under this 
\ 
title, (6) enterprises needed to supplement farm income,"; and (c) 
\ 
by renumbering the present items "(5), (6), and (7)" to "(7), (8), 
\ and (9)". 
SEC. 9. Secition 313 is amended by changing the colon after "$35,000" 
^ use 1943. 
jto a comma, and by striking the proviso in item (1). 
"" SEC. 10. Section 316 is amended by (a) striking from the first sen- 
^"^r^* '^^'*^^' 
tence "at an interest rate not to exceed 5 per centum per annum," and 
(b) adding at the end of the section the following: "Loans made under 
this subtitle shall bear interest at a rate determined by the Secretary 
of the Treasury taking into consideration the current average mar-
ket yield on outstanding marketable obligations of the United States 
with remaining periods to maturity comparable to the average matu-
rities of such loans, adjusted to the nearest one-eighth of 1 per centum, 
\ 
plus not to exceed 1 per centum per annum as determined by the 
\ 
Secretary." 
SEC. 11. Section 331 is amended by adding a new subsection (f) at the 
^ ugl^"'9'^ ^'^''^" 
end thereof to read as follows: 
"(f) Release mortgage and other contract liens if it appears that 
^ they have no present or prospective value or that their enforcement 
likely would be ineffectual or uneconomical." 
. 
/ 
SEC. 12. Section 333(b) of the Consolidated Farmers Home Admin- 
7 use i983. 
( istration Act of 1961 is amended by striking the word "farming". 
J 
Approved August 15, 1968; 
Public Law 90-489 
AN ACT 
August 16, 1968 
To amend the Public Health Service Act to provide for the establishment of a 
[H-R. 12843] 
National Eye Institute in the National Institutes of Health. 
Be it enacted hy the Seriate and House of Representatives 
of the 
United States of America in Congress assembled^ That title IV of the 
National Eye in-
Public Health Service Act (42 U.S.C, ch. 6A, subch. I l l ) is amended ^^EsSabUshraent. 
by adding at the end thereof the following new part: 
ss stat. 707; 
,,-r, 
T-i 
^T 
T^ 
T 
^2 u s e 281-
PART h—JSATIONAL 
EYE INSTITUTE 
289h. 
"ESTABLISHMENT OF NATIONAL EYE INSTITUTE 
"SEC^ 451. The Secretary is authorized to establish in the Public 
Health Service an institute for the conduct and support of research 
for new treatment and cures and training relating to blinding eye 
diseases and visual disorders, including research and training in tne 
special health problems and requirements of the blind and in the basic