Farm Credit:

USDA's Implementation of the Farms for the Future Act of 1990

RCED-92-127: Published: Feb 14, 1992. Publicly Released: Feb 14, 1992.

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Pursuant to a legislative requirement, GAO provided information on the Department of Agriculture's (USDA) implementation of the Farms for the Future Act of 1990.

GAO found that: (1) the Farms for the Future Act authorized the establishment of the Agricultural Resource Conservation Demonstration Program to promote farmland preservation through federal loan payment guarantees and interest assistance; (2) USDA delegated responsibility for administering the demonstration programs to the Farmers Home Administration (FmHA); (3) FmHA would not violate the Antideficiency Act if it implemented the act in Vermont, since the act established a source of funds to set up a pilot project there; (4) in September 1991, FmHA published in the Federal Register proposed regulations to implement the program; (5) 1991 amendments to the act made changes to the program that required FmHA to modify its proposed regulations; (6) in February 1992, FmHA published interim regulations and made the program operational; and (7) as of February 1991, FmHA had not guaranteed any loans under the program.

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