A bill to amend the Commodity Credit Corporation Charter Act, as amended, to provide the highest possible prices in foreign markets for American agricultural producers and to ensure that exports of American agricultural products do not cause domestic economic disruptions.

Summary

Requires that the Commodity Credit Corporation be the sole export seller of raw wheat, corn, grain sorghum, barley, oats, rye, and soybeans. Authorizes the Corporation to negotiate sales for export of such commodities, to accept purchase bids from foreign purchasers, to offer selling bids in the world market, and establish reserves to meet future export sales. Permits the Corporation to acquire commodities on the domestic market to meet the objectives of this Act, at a specified price. States that records containing all terms and conditions of each commodity export sale should be made available by the Corporation for public inspection. Provides that sales for export may be at a higher price, but not a lower price, than the domestic purchase price. Stipulates that if the sale price exceeds the price paid by the Corporation for such commodity by 25 percent, 50 percent of the excess shall be repaid by the Corporation to the producer of the commodity and the remaining 50 percent shall be used for energy research, development, and demonstration.

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1 official file

• Introduced in House

  summary · EN · 1 August 1975

  Open at official source

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