A bill to establish certain price support loan levels and to provide other means of restitution to American farmers in the event of the suspension or restriction of commercial export sales of agricultural commodities.

Summary

Amends the Food and Agriculture Act of 1977 to require the Secretary of Agriculture to establish the loan level for an agricultural export suspended for reasons of foreign policy or national security as the greater of such commodity's average market price: (1) for the 60-day period ending on such suspension; or (2) on the fifth day before such suspension (currently 90 percent of parity in situations of short supplies). Requires the Commodity Credit Corporation to acquire and hold the amount of such commodity that was to have been exported under the suspended contracts.

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1 official file

• Introduced in House

  summary · EN · 1 April 1981

  Open at official source

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