Agricultural Act Amendments of 1982

Summary

Agricultural Act Amendments of 1982 - Title I: Dairy - Amends the Agricultural Act of 1949, as amended by the Agriculture and Food Act of 1981, to direct the Secretary of Agriculture, for FY 1983-1985, to support the price of milk at not less than 70 percent of parity when net costs and net purchases exceed specified amounts. Requires a semi-annual adjustment if such price support is less than 70 percent of parity. Title II: Wheat - Provides for loans and purchases of the 1982-1985 wheat crops at not less than $3.50 per bushel. Increases the minimum target prices for each of these years from $4.05, $4.30, $4.45, and $4.65 to $4.20, $4.40, $4.60, and $4.80, respectively. Permits the Secretary to establish higher prices as necessary. Repeals authority to reduce loan and purchase levels for a subsequent marketing year if the price of wheat does not rise above 105 percent of the loan level for a particular year. Title III: Feed Grains - Provides for loans and purchases of the 1982-1985 corn crops at not less than $2.60 per bushel. Bases loan and purchase levels for barley, oats, rye, and grain sorghum on parallel levels for corn. Increases the minimum 1982-1985 corn target prices from $2.70, $2.86, $3.03, and $3.18 to $2.80, $2.95, $3.10, and $3.25, respectively. Authorizes the Secretary to establish higher prices as necessary. Repeals authority to reduce loan and purchase levels for a subsequent marketing year if the price of wheat does not rise above 105 percent of the loan level for a particular year. Title IV: Commodity Credit Corporation - Amends the Commodity Credit Corporation Charter Act to: (1) eliminate the Corporation's borrowing ceiling; and (2) authorize necessary appropriations.

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1 official file

• Introduced in Senate

  summary · EN · 29 January 1982

  Open at official source

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