Agricultural Export Credit Assessment Act

Summary

Agricultural Export Credit Assessment Act - Amends the Food for Peace Act of 1966 to authorize financing the Agricultural Export Credit Revolving Fund (the Fund) by voluntary assessments and matching Federal appropriations. Defines an "assessment" as a sum of money deducted by the first purchaser from the proceeds of the sale of a raw agricultural product. Requires the Secretary of Agriculture to hold a referendum, if a producer organization requests it, on whether to require assessments on the sale of an agricultural product. Requires the producer organization to establish a trust fund to receive assessments if the referendum approves of the proposed assessment. Authorizes payments from the trust fund of: (1) refunds to producers; and (2) contributions to the Fund. Requires contributions to the Fund by a producer's organization to be matched by Federal funds. Makes financing exports of the producer organization's commodity the first priority for the use of the organization's contributions and matching funds. Limits the length of time a producer organization may hold assessments in a trust fund. Authorizes appropriations to match expected producers contributions to the Fund. Deletes the provision which terminates the Fund on October 1, 1985.

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1 official file

• Introduced in House

  summary · EN · 3 March 1982

  Open at official source

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