U.S. Act which authorized a credit program to assist tenant farmers in purchasing land
The Bankhead–Jones Farm Tenant Act
Long title
An Act to create the Farmers’ Home Corporation, to promote secure occupancy of farms and farm homes, to correct the economic instability resulting from some present forms of farm tenancy, and for other purposes.
The Bankhead–Jones Farm Tenant Act of 1937 (P.L. 75-210) was passed on July 22, 1937,[1][failed verification] and authorized acquisition by the federal government of damaged lands to rehabilitate and use them for various purposes. Most importantly, however, the law authorized a modest credit program to assist tenant farmers to purchase land,[1] and it was the culmination of a long effort to secure legislation for their benefit.[1]
In February 1943, Roddie and Lucile Pridgett of Rankin County, Mississippi, "became the first Negro farm family in the United States to repay their 36-year farm purchase loan to the Farm Security Administration which they obtained under the provisions of the Bankhead–Jones Tenant Purchase Act." They repaid their loan of $1,495 in only five years.[5]