Special Agriculture Parity Income Act

Summary

Special Agriculture Parity Income Act - Establishes a National Board of Agricultural Producers which shall determine for each marketing year the total quantity of each commodity (cotton, feed grains, livestock, rice, soybeans, sugar and wheat) needed to meet the estimated domestic consumption and export requirements for such marketing year. Sets a minimum selling price of 100 percent of parity and a maximum selling price of 115 percent of parity for each such commodity, and prohibits the sale or disposition of any quantity of a commodity without a valid marketing certificate issued by the Board. Permits storage of commodities produced in excess of the marketing quota in a system of National Reserve Stocks, which may be sold to meet domestic needs and export requirements if the announced national marketing quota proves inadequate. Requires labeling of imported agricultural commodities and a custom duty equal to the difference between the selling price of such commodity and 110 percent of the parity price. Provides that this program shall be mandatory for any particular commodity if 60 percent or more of the producers voting in a referendum approve the program. Prescribes civil and criminal penalties for violations of the provisions of this Act or of any regulation issued pursuant to it.

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1 official file

• Introduced in Senate

  summary · EN · 22 February 1978

  Open at official source

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