An Act to amend the Federal Farm LoAn Act and the Farm Credit Act of 1933, as amended, to expedite retirement of Government capital from Federal Intermediate credit banks, production credit associations and banks for cooperatives, and for other purposes.
PL 90-582 (S.3986), enacted 10/17/1968

82 STAT. ] 
PUBLIC LAW 90-582-OCT. 17, 1968 
1145 
Public Law 90-582 
A N A C T 
October 17, 1968 
To amend the Federal Farm Loan Act and the Farm Credit Act of 1933, as 
l^^-^^^^^ 
amended, to expedite retirement of Government capital from Federal inter-
mediate credit banks, production credit associations and banlis for cooperatives, 
and for other purposes. 
Federal Farm 
Loan Act and 
Be it enacted hy the Senate and House of Representatlven 
of the 
United States of America in Congress assembled^ That section 205 
(a)(1) of the Federal Farm Loan Act, as amended (12 U.S.C. 1061 Farm credu Act 
(a) (1)), is amended by adding the following two paragraphs at the °f 1933, amend-
^ -
1 .1 
a 
merits. 
end thereof: 
70 stat. 660; 
"As to any class A stock held by the Governor of the Farm Credit 79 stat. 922. 
Administration on behalf of the United States at enactment of this 
paragraph, the Governor may at any time require the bank to retire 
such class A stock if, in his judgment, the bank has resources avail-
able therefor, and he may accept in payment for such stock, such 
amount not in excess of par as in his judgment and with the concur-
rence of the Secretary of the Treasury represents a fair value of such 
stock, or such retirement may be effected upon delivery to the Governor 
of an amount of United States Government bonds the market value of 
which on the date of transaction represents the fair value of the class A 
shares as determined by the Governor with the concurrence of the 
Secretary of the Treasury. 
"After all class A stock held by the Governor of the Farm Credit 
Administration on behalf of the United States has been retired from 
all of the Federal intermediate credit banks, and full private owner-
ship has thus been achieved, short-term Federal investments in such 
class A stock to help one or several of the banks to meet emergency 
credit needs shall not be deemed to change this ownership status: Pio-
vided^ hoimvev^ That this sentence shall not alter the application of the 
Government Corporation Control Act, as amended (31 U.S.C. 841-
870), and section 206(a)(4) of the Federal Farm Loan Act, as 
59 stat. 597. 
amended (12 U.S.C. 1072(a) (4)) (relating to payment of a franchise 
^° ^*^*- ^^'^• 
tax to the United States if the bank has outstanding capital stock 
held by the United States)." 
SEC. 2. (a) Section 6 of the Farm Credit Act of 1933, as amended ^^J:]:^^^^^ ^^°'=''' 
(12 U.S.C. 1131c), is amended by adding the following sentence at canceTiaaon'! 
the end thereof: "If an association is deemed not to have resources 
available to retire and cancel any class A stock held by the Governor 
in such association, but in the judgment of the Governor the Federal 
intermediate credit bank of the district has resources available to do 
so, the Governor may require such bank to invest in an equivalent 
amount of class A stock of said association and the association then 
shall pay the proceeds thereof into such revolving fund in retirement 
of the class A stock held by the Governor." 
(b) Section 16(a) of the Farm Credit Act of 1953, as amended (12 ^efilemem an°d''''' 
U.S.C. 1131e-l(a)), is amended by adding the following sentence at canceTiauon" 
the end thereof: "If an association is deemed not to have resources 
available to retire and cancel any class C stock held by the Governor 
in such association, but in the judgment of the Governor the Federal 
intermediate credit bank of the district has resources available to do 
so, the Governor may require such bank to invest in an equivalent 
amount of class A or class C stock of said association and the associa-
tion then shall pay the proceeds thereof into such revolving fund in 
retirement of the class C stock held by the Governor." 
SEC. 3. Section 43 of the Farm Credit Act of 1933 (12 U.S.C. 1134e) 
Government 
is amended by adding the following two paragraphs at the end thereof: ^'Is'strt^Te"^"*' 
"As to any class A stock of any such bank held by the Governor of 
the Farm Credit Administration on behalf of the United States at 
1146 
PUBLIC LAW 90-583-OCT. 17, 1968 
[82 STAT. 
59 Stat. 597. 
69 Stat. 658. 
enactment of this paragraph, he may accept in payment for such stock, 
such amount not in excess of par as in his judgment and with the con-
currence of the Secretary of the Treasury represents a fair value of 
such stock, or such retirement may be effected upon delivery to the 
Governor of an amount of United States Government bonds the market 
value of which on the date of transaction represents the fair value of 
the class A shares as determined by the Governor with the concurrence 
of the Secretary of the Treasury. 
"After all class A stock held by the Governor of the Farm Credit 
Administration on behalf of the United States has been retired from 
all of the banks for cooperatives, and full private ownership has thus 
been achieved, short-term Federal investments in such class A stock to 
help one or several of the banks to meet emergency credit needs shall 
not be deemed to change this ownership status: Provided^ 
however, 
That this sentence shall not alter the application of the Gt>vernment 
Corporation Control Act, as amended (31 U.S.C. 841-870), and section 
36(a) (3) of the Farm Credit Act of 1933, as amended (12 U.S.C. 
11341(a) (3)) (relating to payment of a franchise tax to the United 
States if the bank has outstanding capital stock held by the United 
States)." 
Approved October 17, 1968. 
October 17, 1968 
[S.2671] 
Public Law 90-583 
AN ACT 
To provide for the control of noxious plants on land under the control or 
jurisdiction of the Federal Government. 
Noxious plant 
control. 
Appropriation 
authorization. 
Be It enacted by the Senate and House of Representatives 
of the 
United /States of America in Congress assembled, That the heads of 
Federal departments or agencies are authorized and directed to permit 
the commissioner of agriculture or other proper agency head of any 
State in which there is in effect a program for the control of noxious 
plants to enter upon any lands under their control or jurisdiction and 
destroy noxious plants growing on such land if— 
(1) such entry is in accordance with a program submitted to 
and approved by such department or agency: Provided, That no 
entry shall occur when the head of such Federal department or 
agency, or his designee, shall have certified that entry is incon-
sistent with nationail security; 
(2) the means by which noxious plants are destroyed are 
acceptable to the head of such department or agency; and 
(3) the same procedure required by the State program with 
respect to privately owned land has been followcKi. 
SEC. 2. Any State incurring expenses pursuant to section 1 of this 
Act upon presentation of an iteijiized account of such expenses shall 
be reimbursed by the head of the department or agency having 
control or jurisdiction of the land with respect to which such expenses 
were incurred: Provided, That such reimbursement shall be only to 
the extent that funds appropriated specifically to carry out the pur-
jx)ses of this Act are available therefor during the fiscal year in which 
the expenses are incurred. 
SEC. 3. There are hereby authorized to be appropriated to depart-
ments or agencies of the Federal Government such sums as the Con-
gress may determine to be necessary to carry out the purposes of this 
Act. 
Approved October 17, 1968.