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15 U.S.C. 714b: General powers of Corporation

Created in 1966 by Public Law 89-758. Changed by 14 later laws. No bill we track in this Congress changes it.

5 other sections of the Code cite this one, including 7 U.S.C. 2209k, 16 U.S.C. 3811, 21 U.S.C. 889, 31 U.S.C. 3902, 50 U.S.C. 98c.

26 parts of federal rules cite it as their authority, written by Commodity Credit Corporation, Department of Agriculture (22), Office of the Secretary of Agriculture (2), Farm Service Agency, Department of Agriculture (2).

This Congress

No bill we track in the 119th Congress changes this section.

    How it got here

    1998

    • Pub. L. 105–277 substituted "$188,000,000" for "$193,000,000". (Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 1999) Law text · (g)
    • Pub. L. 105–185 substituted "$193,000,000" for "$275,000,000". (Agricultural Research, Extension, and Education Reform Act of 1998) Law text · (g)

    1996

    • Pub. L. 104–127, §161(b)(1)(A), inserted before period at end of first sentence ", except that obligations under all such contracts or agreements (other than reimbursable agreements under section 714i of this title) for equipment or services relating to automated data processing, infor… (Federal Agriculture Improvement and Reform Act of 1996) Law text · (g)
    • Pub. L. 104–127, §161(b)(1)(B), in second sentence, struck out "shall have power to acquire personal property necessary to the conduct of its business but" after "The Corporation". (Federal Agriculture Improvement and Reform Act of 1996) Law text · (h)

    1992

    • Pub. L. 102–572 substituted "United States Court of Federal Claims" for "United States Claims Court". · (c)

    1987

    • Pub. L. 100–202 substituted "$30,000,000,000" for "$25,000,000,000". · (i)

    1986

    • Pub. L. 99–260 inserted provision authorizing the Corporation to dispose of or export surplus agricultural commodities in amounts that will enable the Corporation to finance research and development of external combustion engines using fuel other than that derived from petroleum and pe… · (m)

    1985

    • Pub. L. 99–198, §1761, inserted an additional proviso reading as follows: "That any contract entered into by the Corporation for the use of a storage facility shall provide at least that (1) the rental rate charged for an extended term in excess of one year shall be at an annual rate l… · (h)
    • Pub. L. 99–198, §1167(b), in sentence beginning "Notwithstanding any other provision of law" substituted "Commodity Credit Corporation shall, to the maximum extent practicable, in consultation with the Secretary of State, and upon terms and conditions prescribed or approved by the Secretary of Agri… · (h)

    1982

    • Pub. L. 97–164 substituted "Claims Court" for "Court of Claims". · (c)

    1981

    • Pub. L. 97–98 inserted ", except that the Secretary shall make such loans in areas in which the Secretary determines that there is a deficiency of such storage", and inserted provision authorizing the Secretary to make loans to grain growers needing storage facilities for the storage o… · (h)
    • Pub. L. 97–35 substituted "the Corporation may make loans" for "the Corporation shall make loans" in fourth proviso. · (h)

    1980

    • Pub. L. 96–234 substituted "$100,000" for "$50,000" in two places, and struck out provisions respecting the size of the facility for purposes of obtaining loans. · (h)

    1979

    • Pub. L. 96–41 substituted "section 3 of the Strategic and Critical Materials Stock Piling Act" for "section 2 of the Strategic and Critical Materials Stock Piling Act (60 Stat. 596)" and "the President" for "the Munitions Board of the Department of Defense". · (h)

    1978

    • Pub. L. 95–279 substituted "$25,000,000,000" for "$14,500,000,000". · (i)

    1977

    • Pub. L. 95–113 inserted proviso directing the Corporation to make secured storage facility loans of not to exceed $50,000 to growers of dry or high moisture grain, soybeans, rice, and high moisture forage and silage during the period Oct. 1, 1977, to Sept. 30, 1981. See Codification no… · (h)

    1966

    • Pub. L. 89–758 inserted provisions allowing for the sale of grain storage facilities by bids when no person offers to pay the minimum price set by the Commodity Credit Corporation at not less than the minimum price to any public or private nonprofit agency. · (h)

    Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.