A bill to amend the Agricultural Act of 1949 to repeal the authority of the Secretary of Agriculture to reduce the support price for the 1986 crop of soybeans below $5.02 per bushel, and for other purposes.

Summary

Amends the Agricultural Act of 1949 to repeal the Secretary of Agriculture's authority to reduce 1986 through 1990 soybean support levels. (Existing law allows the Secretary to reduce the level of soybean loans and purchases by up to five percent per year if such loans or purchases discouraged the exportation of soybeans and caused excessive U.S. stocks of soybeans.) States that any action taken by the Secretary to reduce 1986 soybean support levels below $5.02 shall have no effect.

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1 official file

• Introduced in House

  summary · EN · 17 September 1986

  Open at official source

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