S. 746
A bill to amend the Food, Conservation, and Energy Act of 2008 to establish a market-driven inventory system.
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Sponsor
Sen. Cowan, William M. [D-MA]
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
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Source: Senate
Introduced in Senate
Source: Library of Congress
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
Introduced in Senate
Apr 17, 2013