Agricultural Act of 1987

Summary

Agricultural Act of 1987 - Title I: Price Support for Producers of Wheat, Feed Grains, Rice and Upland Cotton - Subtitle A: Commodity Credit Corporation - Amends the Commodity Credit Corporation Charter Act to increase the Commodity Credit Corporation's borrowing authority from $25,000,000,000 to $40,000,000,000. Subtitle B: Agricultural Farm Programs - Amends the Agricultural Act of 1949 with respect to the permitted acreage eligible for established price payments. Reduces the established price of wheat: (1) from $4.29 per bushel to $3.94 per bushel for the 1988 crop; (2) from $4.16 to 3.55 for the 1989 crop; and (3) from $4 to $3.19 for the 1990 crop. Reduces the established price for corn: (1) from $2.97 per bushel to $2.73 per bushel for the 1988 crop; (2) from $2.88 to $2.45 for the 1989 crop; and (3) from $2.75 to $2.21 for the 1990 crop. Reduces the established price for upland cotton: (1) from $0.77 per pound to $0.714 per pound for the 1988 crop; (2) from $0.745 to $0.643 for the 1989 crop; and (3) from $0.729 to $0.579 for the 1990 crop. Reduces the established price for rice: (1) from $11.30 per hundredweight to $10.50 per hundredweight for the 1988 crop; (2) from $10.95 to $9.45 for the 1989 crop; and (3) from $10.71 to $8.51 for the 1900 crop. Increases the key percentage in the formulae for the price support levels of each such commodity from five percent to ten percent. Title II: General Commodity Provisions - Amends the Food Security Act of 1985 to revise the definition of a person. Directs the Secretary of Agriculture to consider any entity that is conducting a farming operation independently of all of its members to be a separate person. Requires the Secretary to attribute all payments received by an entity to the members of the entity that have an interest in it, such attribution to be based upon the member's interest. Declares that an individual or entity shall be considered to be actively engaged in farming if such individual or entity has made a significant contribution to the farming operation of: (1) land, cash, or equipment; and (2) labor management. Permits the Secretary not to attribute payments to a member of an entity if: (1) such member's interest in the entity is less than ten percent; and (2) attribution of the payments to such member would have little or no impact on the implementation of the limitation on deficiency payments. Title III: Trade - Amends the Food Security Act of 1985 to revise the allocation of funds for export promotion programs for FY 1987, 1988, 1989, and 1990. Requires the Commodity Credit Corporation to make available for FY 1988 through 1990 not less than $3,000,000,000 in export credit guarantees for short-term credit to finance export sales of U.S. agricultural commodities. Title IV: Credit - Amends the Consolidated Farm and Rural Development Act to prohibit insured and guaranteed real estate loans starting FY 1988. Permits insured and guaranteed operating loans for FY 1988 in an amount equal to $3,500,000,000. Makes $1,000,000,000 available for insured operating loans and $2,500,000,000 for guaranteed operating loans for FY 1988. Title V: Crop Insurance - Federal Crop Insurance Act of 1987 - Amends the Federal Crop Insurance Act to reduce the capital stock of the Federal Crop Insurance Corporation to $1.00. Directs the Secretary of the Treasury, within 30 days after enactment of this Act, to cancel, without consideration, receipts for payments for or on account of the stock of the Corporation outstanding immediately before such enactment. States that such receipts shall cease to be liabilities of the Corporation. Declares that the Board of Directors of the Corporation shall encourage the sale of Federal Crop Insurance through licensed private insurance agents and brokers. Requires the Board to provide such agents and brokers after September 30, 1991, with indemnification for errors or omissions on the part of the Corporation or its contractors for which the agent or broker is sued or held liable, except to the extent the agent or broker has caused the error or omission. Places a personnel cap on Corporation employees after September 30, 1991, of 50 permanent, full-time employees. Provides for payment by the Corporation of producer premiums in decreasing percentages from 32 percent for FY 1988 to six percent for FY 1991. Leaves the Corporation with authority to provide reinsurance, which, after September 30, 1991, shall be premium sustained. Directs the Secretary of the Treasury, within 30 days after enactment of this Act, to cancel without consideration: (1) all obligations of the Commodity Credit Corporation for funds extended under the Federal Crop Insurance Act; and (2) any outstanding obligations of the Federal Crop Insurance Corporation for borrowings (as of the date of enactment of this Act). Title VI: Recovery of Costs for Services - Subtitle A: Grain Inspection Fees - Amends the United States Grain Standards Act to require each designated official agency and each delegated State agency to pay fees to the Administrator of the Federal Grain Inspection Service to cover the costs of supervising official agency personnel. Provides for administrative and civil penalties for failure to pay such fees. Subtitle B: Service Payments Under Federal Milk Marketing Orders; Repeal of Timetable for Implementation of Marketwide Service - Amends the Food Security Improvements Act of 1986 with respect to payments under Federal milk marketing orders to repeal the timetable for implementation of marketwide service. Subtitle C: To Recover the Costs of Various Other Programs; Recover Cost of Carrying Out Wholesale Market - Amends the Agricultural Marketing Act of 1946 to direct the Secretary of Agriculture to prescribe and collect fees from those who obtain services or assistance under the market development program. Provides for administrative and civil penalties for failure to pay such fees. Directs the Secretary to prescribe and collect fees to cover the costs of carrying out: (1) inspection and certification programs for apples and pears; (2) distribution and marketing programs under the Agricultural Marketing Act of 1946; and (3) activities relating to standards and specifications for agricultural products under the same Act. Provides for administrative and civil penalties for failure to pay such fees. Amends the Agricultural Adjustment Act of 1933 (as reenacted and amended by the Agricultural Marketing Agreement Act of 1937), the Plant Variety Protection Act, and the Cotton Statistics and Estimates Act, respectively, to direct the Secretary to assess fees for: (1) carrying out Federal marketing agreements and orders; (2) plant variety protection certificates; and (3) cotton classing services. Provides for administrative and civil penalties for failure to pay such fees. Subtitle D: To Recover the Costs of Carrying Out the Federal Market News Program - Directs the Secretary of Agriculture to prescribe and collect fees to recover the costs of collection, analysis, and dissemination of market information. Provides for administrative and civil penalties for failure to pay such fees. Subtitle E: Secretary of Agriculture Authorized to License Certain Persons and Collect Certain Fees Under the Federal Seed Act - Amends the Federal Seed Act to require the Secretary of Agriculture to prescribe and collect fees from persons licensed under such Act to recover the costs of carrying out its provisions. Title VII: Meat, Poultry and Egg Products Inspection Fees - Amends the Federal Meat Inspection Act, the Poultry Products Inspection Act, and the Egg Products Inspection Act to direct the Secretary of Agriculture to assess and cause to be collected from each slaughterer or official handler, as appropriate, fees to cover the costs of administering the respective Acts. Provides for administrative penalties (including suspension of inspections, and under the Egg Products Inspection Act civil penalties as well) for failure to pay such fees. Title VIII: General Effective Date - Makes the date of enactment of this Act its effective date, except where otherwise stated in its titles.

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• Introduced in House

  summary · EN · 6 May 1987

  Open at official source

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