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. Provides that no person engaged in commerce in a business other than farming, whose nonforming business assets exceed $3,000,000 shall engage in farming or the production of agricultural products, or participate 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 of 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. Authorizes appropriations of such sums as are necessary to carry out the purposes of this Act.

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1 official file

• Introduced in Senate

  summary · EN · 21 February 1973

  Open at official source

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