Family Farm Antitrust Act

Summary

Family Farm Antitrust Act - Finds that vertical integration of the agricultural industry by corporations engaged in the processing, distributing and retail industries, and other conglomerate corporations, tends to create monopolies in the agricultural industry and produce unfair competition for family farms, contributing to the decline of rural populations and the consequent crowding of metropolitan centers. Declares it to be the national policy to restore competition to the agricultural industry and to provide for the continuance of the family farm. Prohibits persons engaged in commerce in a business other than farming, whose nonfarming business assets exceed $3,000,000 from engaging in farming or the production of agricultural products, or participating in farming by any means of acquisition or control of another person who is engaged in farming. Specifies exceptions including charitable, educational, or nonprofit institutions, and farmer-owned and controlled cooperatives. Directs the Secretary of Agriculture to acquire at fair market value any property or interest of which a person is required to divest himself under the provisions of this Act, if the person is otherwise unable to divest himself of such property.

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1 official file

• Introduced in Senate

  summary · EN · 1 March 1977

  Open at official source

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