Bill113th Congress

S. 746

A bill to amend the Food, Conservation, and Energy Act of 2008 to establish a market-driven inventory system.

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Introduced
Apr 17, 2013
Origin Chamber
Senate
Policy Area
Agriculture and Food
Latest Action
Apr 17, 2013

Sponsor

Sen. Cowan, William M. [D-MA]

Democrat·MA
Bioguide ID: C001099
First Name: William "Mo"
Last Name: Cowan
By Request: N
0
Cosponsors
1
Committees
2
Actions
0
Amendments
0
Related Bills
2
Subjects
1
Summaries
2
Titles
1
Text Versions

Bill Details

Update Date
Nov 15, 2022
Origin Chamber
Senate
Bill Type
S
Bill Number
746
Congress
113
Introduced Date
Apr 17, 2013
Policy Area
Agriculture and Food
Is Law
No
Apr 17, 2013IntroReferral

Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Source: Senate

Apr 17, 2013IntroReferral10000

Introduced in Senate

Source: Library of Congress

Introduced in Senate· Apr 17, 20130

Amends the Food, Conservation, and Energy Act of 2008 to direct the Secretary of Agriculture (USDA), for each of the 2014-2018 crops of each market commodity, to make recourse loans available to producers on a farm electing to participate in the program.

Sets forth: (1) the recourse loan rate for corn, oats, barley, grain sorghum, wheat, and soybeans; and (2) market commodity-specific limitations on participation (inventory caps) for such crops.

Requires participating producers, until the Secretary authorizes loan repayment and release, to: (1) store and maintain the market commodity, and (2) not sell or otherwise release the commodity into the market.

Provides that during such storage period: (1) title to the commodity shall remain with the producers, and (2) the Secretary shall have a first lien on the commodity for which a recourse loan is received.

Provides USDA payments to producers at $0.40 per bushel per crop year.

Authorizes the Secretary to establish a partial commodity release if the market release of all of the stored commodity would depress prices below the release level.

Authorizes the Secretary to establish a set-aside program under which qualifying producers on a farm may remove acres from production for the following crop year if the inventory cap for a commodity is reached and such commodity's market price is below the recourse loan rate. Requires participating producers to maintain a cover crop on all enrolled acreage.

Agriculture, Nutrition, and Forestry Committee

Senate· Standing
Agricultural prices, subsidies, creditGrain

Introduced in Senate

Apr 17, 2013

A bill to amend the Food, Conservation, and Energy Act of 2008 to establish a market-drive… — Informed