Prohibits the Secretary of Agriculture from making a premium adjustment for club wheat loan deficiency payments under the Agricultural Market Transition Act. Provides specified compensation for club wheat producers who received discounted loan deficiency payments.
[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 734 Introduced in House (IH)]
106th CONGRESS
1st Session
H. R. 734
To prohibit the Secretary of Agriculture from discounting loan
deficiency payments under the Agricultural Market Transition Act for
club wheat and to compensate club wheat producers who received
discounted loan deficiency payments as a result of the erroneous
decision of the Department of Agriculture to assess a premium
adjustment against club wheat.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 11, 1999
Mr. Nethercutt introduced the following bill; which was referred to the
Committee on Agriculture
_______________________________________________________________________
A BILL
To prohibit the Secretary of Agriculture from discounting loan
deficiency payments under the Agricultural Market Transition Act for
club wheat and to compensate club wheat producers who received
discounted loan deficiency payments as a result of the erroneous
decision of the Department of Agriculture to assess a premium
adjustment against club wheat.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. EQUALIZATION OF LOAN DEFICIENCY PAYMENTS FOR CLUB WHEAT
PRODUCERS.
(a) Premium Adjustment Prohibited.--In making loan deficiency
payments available under section 135 of the Agricultural Market
Transition Act (7 U.S.C. 7235) to producers of club wheat, the
Secretary of Agriculture may not assess a premium adjustment on the
amount that would otherwise be computed for club wheat under the
section to reflect the premium that is paid for club wheat to ensure
its availability to create a blended specialty product known as western
white wheat.
(b) Retroactive Application.--
(1) Compensation required.--As soon as practicable after
the date of the enactment of this Act, the Secretary of
Agriculture shall make a payment to each producer of club wheat
that received a discounted loan deficiency payment under
section 135 of the Agricultural Market Transition Act (7 U.S.C.
7235) before that date as a result of the assessment of a
premium adjustment against club wheat. The amount of the
payment for a producer shall be equal to the difference
between--
(A) the loan deficiency payment that would have
been made to the producer in the absence of the premium
adjustment; and
(B) the loan deficiency payment actually received
by the producer.
(2) Funding source.--The Secretary shall use funds
available to provide marketing assistance loans and loan
deficiency payments under subtitle C of the Agricultural Market
Transition Act (7 U.S.C. 7231 et seq.) to make the payments
required by this subsection.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Agriculture.
Referred to the Subcommittee on General Farm Commodities, Resource Conservation and Credit.
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