An Act to amend the Federal Farm LoAn Act and the Farm Credit Act of 1933, as amended, to improve the capitalization of Federal intermediate credit banks and production credit associations, and for other purposes
PL 90-345 (H.R.16674), enacted 06/18/1968

182 
PUBLIC LAW 90-345-JUNE 18, 1968 
[82 
STAT. 
Federal post 
card application. 
50 u s e 1464. 
(4) Clause (b) of section 204 is amended by amending item (5) of 
the Federal post card application to read as follows: 
"(5) For 
years preceding the above election my home (not military) 
residence in the above State has been 
(Street and number or rural route, etc.) 
in the county or parish of 
The voting precinct or 
election district for this residence is 
" 
(Enter If known) 
(5) Clause (b) of section 204 is amended by amending item (7) of 
the Federal post card ballot to read as follows: 
"(7) Mail my ballot to the following official address: 
For those assigned in the U.S.: 
(Unit (Co., Sq., Trp., Bn., efe.K Govt Agency, or Office!" 
(Military Base, Station, Camp, Fort, Ship, Airfield, etc.) 
For those assigned elsewhere: 
_ 
>» 
(APO or FPO number) 
(6) Clause (c) of section 204 is amended to read as follows: 
"(c) Upon the other side of the card there shall be printed in red 
type the following: 
PILL OUT BOTH SIDES OF THE CARD 
FREE of U.S. Postage 
Including Air Mail 
(Jflicial 
Mailing 
Address 
OFFICIAL ELECTION BALLOTING MATERIAL—VIA AIR MAIL 
To 
Approved June 18, 1968. 
(Title of Election Official) 
(County or Township) 
(City or Town, State) 
Public Law 90-345 
June 18, 
1968 
[H.R. 
16674] 
Federal Farm 
Loan Act, amend-
ment. 
79 Stat. 922. 
AN ACT 
To amend the Federal Farm Loan Act and the Farm Credit Act of 1933, as 
amended, to improve the capitalization of Federal intermediate credit banks 
and production credit associations, and for other purposes. 
Be It enacted 
hy the Senate 
and House 
of RepreHentatlves 
of 
the 
United 
States 
of America 
In GongreHH assembled^ 
T h a t the Federal 
F a r m Loan Act, as amended, is hereby amended— 
(a) by substituting "twenty" for "twelve" in section 203(a) 
thereof (12 U.S.C. 1041); 
82 STAT. ] 
PUBLIC LAW 90-346-JUNE 18, 1968 
183 
(b) by changing tlie heading over section 205 thereof (12 
U.S.C. 1061) to read "CAPITAL STOCK AND PARTICIPATION CER-
TIFICATES" instead of "CAPITAL STOCK" and by adding the follow-
ing new subsection (c) at the end of section 205 thereof (12 
U.S.C. 1061) : 
"(c) PARTICIPATION CERTIFICATES IN ADDITION TO THOSE ISSUED IN 
PAYMENT OF PATRONAGE REFUNDS.—In addition to the participation 
certificates issued in payment of patronage refunds, each Federal in-
termediate credit bank may issue further amounts of such participation 
certificates, with the same rights, privileges, and conditions, for pur-
chase by institutions other than production credit associations that are 
entitled to receive participation certificates from the bank in pay-
ment of patronage refunds."; and 
(c) by inserting the following new paragraph between the 
present second and third paragraphs of .subsection (a) of section 
206 thereof (12 U.S.C. 1072(a)): 
"If and when the relative amounts of class B stock in a Federal in-
termediate credit bank owned by the production credit associations 
are adjusted to reestablish the proportion of such class B stock owned 
by each association, as provided in the second or third paragraphs of 
section 205(a) (2) of this Act (12 U.S.C. 1061(a) (2)), amounts in the 
reserve account that are allocated to production credit associations may 
be adjusted in the same manner, so far as practicable, to reestablish the 
holdings of the production credit associations in the allocated legal re-
serve accounts into substantially the same proportion as are their hold-
ings of class B stock.". 
SEC. 2. The Farm Credit Act of 1933, as amended, is hereby amended 
by inserting "or otherwise, except as may be authorized under rules 
and regulations prescribed or approved by the Farm Credit Adminis-
tration," immediately after the word "loan" in the last sentence 
of the first paragraph of section 23 thereof (12 U.S.C. 1131g). 
Approved June 18, 1968. 
70 Stat. 660. 
70 Stat. 662. 
Class B stocks 
owned by produc-
tion credit associ-
ations, adjustmentt 
Farm Credit 
Act of 1933, 
amendment. 
69 Stat. 663. 
Public Law 90-346 
AN ACT 
To amend the Internal Revenue Code of 19'."»4 with resixiet to advertising in a 
convention program of a national political c<mvention. 
June 18, 1968 
[H.R. 17325] 
Be 'it eixicted by the Seiuite icnd How^e of Repre-^entdthieH of the 
United States of America in Congresii (O^Hemhled^ That subsection (a) 
of section 276 of the Internal Revenue Code of 1954 (relating to cer-
tain indirect contributions to political parties) shall not apply to any 
amount paid or incurred for advertising in a convention program of a 
political pai-ty distributed in connection witli a convention held for the 
purpose of nominating candidates for the offices of President and Vice 
President of the United States, if the proceeds from such program are 
used solely to defray the costs of conducting such convention (or a sub-
sequent convention of such party held for such purpose) and the 
amount ])ai(l or incurred for such advertising is reasonable in light of 
the business the taxpayer may expect to receive— 
(1) directly as a result of such advertising, or 
(2) as a result of the convention being held in an area in which 
the taxj)ayer lias a principal place of business. 
SEC. 2. The first section of this Act shall apply with respect to 
amounts ]>aid or incurred on or after January 1, 1968. 
Approved June 18, 1968. 
80 Stat. 66. 
26 u s e 276-
Effective date. 
3-600 O - 69 - 15