Amendment110th Congress
Amendment sought to replace the current daily posted county prices (PCPs) used for determing loan deficiency payment rates and repayment rates for marketing assistance loans with a monthly PCP for each crop.
- Amendment Number
- 708
- Description
- Amendment sought to replace the current daily posted county prices (PCPs) used for determing loan deficiency payment rates and repayment rates for marketing assistance loans with a monthly PCP for each crop.
- Purpose
- An amendment numbered 13 printed in Part B of House Report 110-261 to replace the current daily posted county prices (PCPs) used for determing loan deficiency payment rates and repayment rates for marketing assistance loans with a monthly PCP for each crop. It would revise requirements for establishing a producer's loan deficiency payment (LDP) and loan repayment rate to be based on the month that beneficial interest is lost. The amendment aims to address farmers taking advantage of short-term market events to lock in artificially high loan deficiency payments, while actually selling the commodity later at prices well above loan rate.
- Congress
- 110
- Type
- HAMDT
- Latest Action Date
- Jul 27, 2007
- Latest Action Text
- On agreeing to the Boehner amendment (A009) Failed by recorded vote: 153 - 271 (Roll no. 750).
- Latest Action Time
- 12:58:42
- Submitted Date
- Jul 27, 2007
- Chamber
- House of Representatives
- Update Date
- Dec 5, 2020