Free Market and Food Protection Resolution

Summary

Free Market and Food Protection Resolution - Requires the Secretary of Agriculture to make payments to any farmowner or operator whenever the executive branch of the Federal Government suspends the export sales of corn, wheat, soybeans, or grain sorghum. Requires the farmowners and operators, in order to be eligible for payment, to have in storage at the beginning of the suspension any amount of the commodity for which export sales have been suspended. Specifies that payment shall be at a rate of 7.5 percent of the parity price per bushel of the commodity concerned for the first 20,000 bushels with 5 percent of parity per bushel to be paid for any amount in excess thereof. Directs that such payment be made at the initiation of the suspension of export sales. Provides that payment of 3 percent of parity for the first 20,000 bushels and 2 percent of parity for each bushel in excess thereof, shall be paid for each 30 day period (after the initial payment) during which the suspension is in effect.

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1 official file

• Introduced in House

  summary · EN · 4 December 1975

  Open at official source

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