A bill to establish an Export Grain Bank, to maximize profits on the sale of certain American commodities in foreign markets, and for other purposes.

Summary

Establishes an Export Grain Bank in the U.S. Treasury: (1) to administer a farm commodity pricing system under which foreign sale prices differ from domestic prices; and (2) to make certain payments to agricultural commodity growers. Prohibits any person from exporting an agricultural commodity unless the contract of sale for export has been approved by the Secretary of Agriculture and the seller agrees to pay a specified amount to the Export Grain Bank. Directs the Secretary to approve any such export contract unless the contract price is less than the minimum price established by the Secretary. Sets as the minimum price the price which the Secretary determines will achieve the greatest aggregate profits and is reasonably obtainable in foreign markets. Authorizes use of Export Grain Bank funds for payments to commodity growers by the Secretary and for any other program administered by the Secretary. Sets forth the method of determining the amount payable to a commodity grower by the Secretary. Establishes an advisory committee to advise the Secretary regarding the Secretary's responsibilities under this Act. Makes it unlawful to sell an agricultural commodity for export except as provided in this Act. Authorizes the Secretary to assess a civil penalty for violation of this Act. Provides for judicial review of the Secretary's decision.

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Documents

1 official file

• Introduced in House

  summary · EN · 26 March 1981

  Open at official source

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