An act to provide for the development of State plans for the construction and improvement of subterminal storage and transportation facilities for certain types of agricultural commodities within the State or within a group of States acting together on a regional basis, and to amend the Consolidated Farm and Rural Development Act to authorize loans for the construction and improvement of such facilities, and for other purposes.

Summary

Agricultural Subterminal Storage Facilities Act of 1979 - Requires the Secretary of Agriculture to make financial assistance (in the form of grants) available to States to assist in the development of a subterminal facilities plan for such State. Amends the Consolidated Farm and Rural Development Act to authorize the Secretary to make and insure loans to States which have experienced serious storage and transportation problems in order to construct or improve subterminal facilities. Directs the Secretary to grant such assistance to qualified States and to groups of States which develop a coordinated regional subterminal facilities plan. Defines "subterminal facility" as any facility used for the transient storage of bulk agricultural commodities or for transporting, upgrading, receiving, drying, or loading them out. Requires such facilities to be located between an area of agricultural production and any major storage or major export point, at a place that conveniently serves the needs of producers and purchasers of such commodities, including rail sidings, and loading or unloading facilities which can accommodate unit railroad cars and other appropriate transportation modes designed for the transport and storage of bulk agricultural commodities. Prescribes the necessary content of the grain shipment and storage plans required from applicant States. Amends the Internal Revenue Code to provide for the nonrecognition of any gain properly allocable to the sale or exchange of any single purpose agricultural structure due to the construction of a subterminal facility.

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Documents

4 official files

• Public Law (PDF)

  Public Law · EN · 26 September 1980

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• Passed House amended

  summary · EN · 3 June 1980

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• Reported to Senate with amendment(s)

  summary · EN · 15 May 1979

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• Introduced in Senate

  summary · EN · 31 January 1979

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