A bill to amend the Food, Conservation, and Energy Act of 2008 to establish a market-driven inventory system.
Latest action · Apr 17, 2013 Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 17, 2013
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Apr 17, 2013Introduced in Senate
- Apr 17, 2013Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Subjects
Assigned by the Library of Congress. Policy area: Agriculture and Food.
Text 1
Each version as it was printed, newest first.
- Apr 17, 2013Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.