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wool and mohair for the 1971, 1972, and 1973 marketing years. Also, it established a limit of $55,000 on the amount of the payment to any producer of wheat, feed grains, or cotton of the 1971, 1972, or 1973

crop.

The Agriculture and Consumer Protection Act of 1973 (P.L. 93-86, 87 Stat. 221, August 10, 1973) extended most of the provisions of the 1970 Act to the 1974-77 crops. New were the guaranteed or "target" prices and disaster payments for wheat, feed grains, and cotton, which provide a farmer with a guaranteed return on the production on his allotment if average prices drop below the target price. It also provided a $20,000 payment limitation, contained provisions affecting dairy products, extended the wool and mohair program through 1977, continued beekeeper indemnities, authorized special studies, technical support programs, and export sales reporting, and established a disaster feed

reserve.

The Rice Production Act of 1975 (P.L. 94-214, 90 Stat. 181, Feb. 16, 1976) provided for loans, purchases, and target price and disaster payments on the 1976-77 crops of rice.

The Food and Agriculture Act of 1977 (P.L. 95–113, 91 Stat. 913, Sept. 29, 1977) provided for similar price support and target price payment programs for wheat, feed grains, rice, and upland cotton for the 1978-81 crops. Disaster payments were extended to the 1978-79 crops of these commodities. The wool program with some changes was extended through 1981. A new dual price support program was specified for the 1978-81 crops of "quota" peanuts and "additional" peanuts, with provision for handlers and marketing association pools. The Secretary was directed to make available price support on the 1978-81 crops of soybeans and the 1977-78 crops of sugarbeets and sugarcane. Provision was made for requiring compliance with the set-aside of cropland for the 1978-81 crops of wheat, feed grains, upland cotton, and rice as a condition of eligibility for loans, purchases, and payments, for special grazing and hay programs for 1978-81, a producer held grain reserve, expansion of farm storage facility loans, and a pilot gasohol program. The payment limitations were also changed.

The Federal Crop Insurance Act of 1980 (P.L. 96-365, 94 Stat. 1312, Sept. 26, 1980) provided for termination of disaster payments after the 1981 crop year.

The Commodity Credit Corporation is the chief instrumentality in making price support available to producers. Export and surplus removal programs operated under Section 32 of Public Law 320, 74th Congress, are also at times utilized as a means of price support.

The Agricultural Act of 1980 (Pub. L. 96-494, 94 Stat. 2570) increased the loan rates for the 1981 crops of corn, wheat and soybeans. Also, the authority to conduct the Farmer-Held Grain Reserve Program was amended to (1) increase the loan levels for wheat and feed grains placed in such reserve, (2) require that interest be waived on loans with respect to wheat and feed grains placed in such reserve, and (3) give the Secretary of Agriculture discretionary authority to establish release and call levels under the program. Authority is further provided for the Secretary to establish a gasohol feedstock reserve or a food security reserve, or both, whenever a suspension of the export of agricultural commodities has been imposed. The President is also required to establish a Food Security Wheat Reserve which shall be maintained by the

Secretary of Agriculture through the funds, facilities, and authorities of the Commodity Credit Corporation.

The Agricultural Adjustment Act of 1980, (Pub. L. 96-213, 94 Stat. 119) increased the established "target" prices for the 1980 crops of corn and wheat and changed the method used to calculate such prices for the 1981 crops. Furthermore, the authority to continue disaster payments for wheat, feed grains, upland cotton and rice was extended through the 1980 crops and an annual payment limit of $100,000 was imposed on such payments effective for the 1980 and 1981 crops. Changes were also made with respect to the normal crop acreage requirements which are used as a condition of eligibility for loans, purchases, and payments.

AN ACT

To stabilize prices of agricultural commodities.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as the "Agricultural Act of 1949." (7 U.S.C. 1421 note.)

TITLE I-BASIC AGRICULTURAL COMMODITIES

SEC. 101. The Secretary of Agriculture (hereinafter called the "Secretary") is authorized and directed to make available through loans, purchases, or other operations, price support to cooperators for any crop of any basic agricultural commodity, if producers have not disapproved marketing quotas for such crop, at a level not in excess of 90 per centum of the parity price of the commodity nor less than the level provided in subsection (a), (b), and (c) as follows:

(a) For tobacco (except as otherwise provided herein), corn, and wheat,2 if the supply percentage as of the beginning of the marketing year is:

The level of support shall be not less than the following percentage of the parity price:

Not more than 102

More than 102 but not more than 104
More than 104 but not more than 106
More than 106 but not more than 108
More than 108 but not more than 110
More than 110 but not more than 112
More than 112 but not more than 114
More than 114 but not more than 116
More than 116 but not more than 118
More than 118 but not more than 120
More than 120 but not more than 122
More than 122 but not more than 124
More than 124 but not more than 126
More than 126 but not more than 128
More than 128 but not more than 130
More than 130---

90

89

88

87

86

85

84

83

82

81

80

79

78

77

76

75

For rice of the 1959 and 1960 crops, the level of support shall be not less than 75 per centum of the parity price. For rice of the 1961 crop the level of support shall be not less than 70 per centum of the parity price. For the 1962 and subsequent crops of rice the level of support shall be not less than 65 per centum of the parity price.3 (7 U.S.C. 1441(a).)

(b)4 For cotton and peanuts, if the supply percentage as of the beginning of the marketing year is:

1 P.L. 439, 81st Cong., 63 Stat. 1051, Oct 31, 1949.

2 This subsection was amended by section 302 of the Agricultural Act of 1958, P.L. 85-835, 72 Stat. 994, Aug. 28, 1958, effective with the 1959 crop, by striking out "wheat, and rice" and inserting "and wheat".

3 This paragraph was added by Sec. 302 of the Agricultural Act of 1958, P.L. 85-835, 72 Stat. 994, Aug. 28, 1958, effective beginning with the 1959 crop. See also the rice provisions of subsecs. (g) and (h) of this section.

See also Sec. 103 of this Act for cotton and Sec. 106 for tobacco.

The level of support shall be not less than the following percentage of the parity price:

90

Not more than 108

More than 108 but not more than 110
More than 110 but not more than 112
More than 112 but not more than 114
More than 114 but not more than 116
More than 116 but not more than 118
More than 118 but not more than 120
More than 120 but not more than 122
More than 122 but not more than 124
More than 124 but not more than 125
More than 125 but not more than 126
More than 126 but not more than 127
More than 127 but not more than 128
More than 128 but not more than 129
More than 129 but not more than 130
More than 130——

(7 U.S.C 1441(b).)

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(c) For tobacco, if marketing quotas are in effect, the level of support shall be 90 per centum of the parity price. (7 U.S.C. 1441(c).) (d) Notwithstanding the foregoing provisions of this section(1) [Applicable only to 1950 crops.]

(2) [Applicable only to 1951 crops.]

(3) the level of price support to cooperators for any crop of a basic agricultural commodity, except tobacco, for which marketing quotas have been disapproved by producers shall be 50 per centum of the parity price of such commodity; and no price support shall be made available for any crop of tobacco for which marketing quotas have been disapproved by producers;

(4)5

(5) price support may be made available to noncooperators at such levels, not in excess of the level of price support to cooperators, as the Secretary determines will facilitate the effective operation of the program. (6)6

* *

(7) Where a State is designated under section 335(e) of the Agricultural Adjustment Act of 1938, as amended, as outside the commercial wheat-producing area for any crop of wheat, the level of price support for wheat to cooperators in such State for such crop of wheat shall be 75 per centum of the level of price support to cooperators in the commercial wheat-producing area. (7 U.S.C. 1441(d).)

(e)8*

(f)9 The provisions of this Act relating to price support for cotton

5 Subsec. (4) was repealed, effective with the 1959 crop, by Sec. 201 of the Agricultural Act of 1958, P.L. 85-835, 72 Stat. 993, Aug. 28, 1958.

1954, P.L. 83-690, 68 Stat. 899, Aug. 28, 1954.

Subsec. (6) was applicable only to the 1953-1955 crops of basic agricultural commodities. It was added by the Act of July 17, 1952, effective as to the 1953 and 1954 crops and was amended by Subsec. 201 of the Agricultural Act of 1954, P.L. 83-690, 68 Stat. 899. Aug. 28, 1954, to cover the 1955 crops. Subsec.(7) was added by subsection 201(b) of the Agricultural Act Repealed by the Act of February 20, 1960, P.L. 86-389, 74 Stat. 7. Subsection (f) added by the Act of July 17, 1952, P.L. 82-585, 66 Stat. 758, 759. The first sentence was amended by section 202 of the Agricultural Act of 1954, P.L. 83-690, 68 Stat. 899, Aug. 28, 1954, the Act of April 25, 1957, P.L. 85-28, 71 Stat. 27, the Act of July 2, 1958, P.L. 85-497, 72 Stat. 296, the Act of August 11, 1968, P.L. 90-475, 82 Stat. 702, Sec. 607 of the Food and Agriculture Act of 1977, P.L. 95-113, 91 Stat. 940, Sept. 29, 1977, and the Act of December 31, 1979, P.L. 96-176, 93 Stat. 1290 (which changed the loan level range from 50-100 to 85-135 per centum of the upland level and the minimum payment figure from 65 to 55, effective as to the 1980 crop).

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