A bill to amend the Commodity Credit Corporation Charter Act to increase the level of certain secured storage facility loans to growers of certain commodities, to amend the Agricultural Act of 1949 to increase the levels of loans and purchases for the 1979, 1980, and 1981 crops of feed grains, and for other purposes.

Summary

Amends the Commodity Credit Corporation Charter Act to raise the limit on secured storage facility construction or remodeling loans from $50,000 to $100,000. Bases the size of the facility for which such loan may be obtained upon the amount of space required to store the quantity of the commodity estimated to be produced by the borrower during a three-year (formerly, two-year) period. Amends the Agricultural Act of 1949 to raise loan and purchase levels for the 1979, 1980, and 1981 crops of corn from $2.00 to $2.35 per bushel. Directs the Secretary of Agriculture to make available loans and purchases for the 1979 crop of feed grains to producers ineligible to receive specified loans and purchases under the Agricultural Act of 1949 because of their nonparticipation in a set-aside program under the Food and Agriculture Act of 1977. Requires that such loans and purchases be available: (1) at levels equal to 85 percent of the respective loan and purchase levels for participants in the set-aside program; (2) only on condition that any feed grains for which such loans or purchases are made shall be stored under the producer storage program; and (3) for not more than one-half the 1979 crop of each feed grain of such producer. Directs the Secretary to ensure that such producers are: (1) able to store the feed grains with respect to which such loans and purchases are made; and (2) eligible for loans, purchases, and payments under the producer storage program.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 13 February 1980

   Introduced

   Referred to House Committee on Agriculture.

   Source: IntroReferral

2. 13 February 1980

   Introduced

   Introduced in House

   Source: IntroReferral

3. 13 February 1980

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 13 February 1980

  Open at official source

Sponsors

• Rep. Bedell, Berkley W. [D-IA-6] · D · Sponsor
• · hsag00 · Standing

Related records

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