Farm Crisis Act of 1982

Summary

Farm Crisis Act of 1982 - Title I: Paid Diversion and Conservation Program for 1983 Crop of Wheat and Feed Grains - Amends the Agricultural Act of 1949 to establish 1983 wheat price support levels at not less than $3.80 per bushel. Provides for a combined acreage limitation or set-aside and diversion program for such crop. Requires wheat producers to comply with such combined program in order to receive price supports. Bases 1983 through 1985 wheat and feed grain acreage bases upon the respective 1982 bases adjusted to reflect established crop-rotation practices and other factors as the Secretary of Agriculture determines. Requires the Secretary to make retirement and conservation payments to 1983 wheat and feed grain crop producers who participate in the acreage limitation or set-aside program. Sets 1983 corn support levels (upon which feed grain levels are based) at not less than $2.71 per bushel. Provides for a combined acreage limitation or set-aside and diversion program for such crop if the Secretary determines that the 1982 corn crop will exceed a specified number of bushels. Title II: Farm Storage Facility Loan Program - Amends the Commodity Credit Corporation Charter Act to require the Commodity Credit Corporation (CCC) to guarantee grain storage facility loans to growers for up to 90 percent of each loan, and an aggregate annual amount of not more than $250,000,000 of principle and interest. Title III: Barter of Wheat, Feed Grains, Upland Cotton, and Rice for Strategic and Critical Materials and Petroleum Products - Requires (currently authorizes) the CCC to barter wheat, feed grains, cotton, and rice for strategic and critical materials from abroad. Bases reimbursement upon the Administrator of General Services' estimate rather than the Secretary of the Treasury's. Requires the CCC to barter such commodities for petroleum products for the Strategic Petroleum Reserve when U.S. stocks fall below specified levels. Requires with regard to such petroleum products that the CCC: (1) transfer them to the Reserve without reimbursement; and (2) use normal trade channels to make the exchanges. Title IV: Emergency Agricultural Credit - Amends the Emergency Agricultural Credit Adjustment Act of 1978 to make the emergency agricultural credit program mandatory. Reduces personal outstanding debt limits on: (1) loans under such Act from $400,000 to $200,000; and (2) loans under such Act and under the Consolidated Farm and Rural Development Act from $650,000 to $450,000. Extends new loan authority through FY 1983. Title V: Agricultural Exports - Expresses the sense of Congress that: (1) for FY 1983, at least $1,000,000,000 be appropriated for the agricultural export credit revolving fund under the Food For Peace Act of 1966; and (2) the Secretary of Agriculture should initiate negotiations with the Soviet Union for a multiyear grain sale agreement. Title VI: White House Conference on Agriculture - Requests the President to convene a White House Conference on Agriculture within one year. Requires a report to the President and the Congress.

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Documents

2 official files

• Reported to House with amendment(s)

  summary · EN · 16 September 1982

  Open at official source

• Introduced in House

  summary · EN · 21 July 1982

  Open at official source

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