Emergency Agricultural Response Act of 1998 - Amends the Agricultural Act of 1970 to authorize the use of disaster reserve authority to augment crop insurance benefits for producers affected by multiple year crop losses. Appropriates funds subject to presidential emergency budget designation.
(Sec. 3) Amends the Agricultural Market Transition Act to revise marketing assistance loan rates for: (1) wheat; (2) feed grains (corn); (3) upland cotton; (4) extra long staple cotton; (5) rice; and (6) oilseeds. Authorizes six-month loan extensions.
(Sec. 5) Repeals the temporary suspension of the farmer owned reserve program.
(Sec. 6) Directs the Secretary of Agriculture to build and manage a reserve stock of a loan commodity whenever such commodity's prices fall below 75 percent of its marketing assistance loan rate.
(Sec. 7) Authorizes the Secretary to transfer specified Department of Agriculture funds to the Farm Service Agency in order to improve local and area Agency services.
(Sec. 8) Amends the Food Security Act of 1985 to direct the Secretary to carry out a three-year conservation reserve for certain diseased croplands.
(Sec. 9) Sets forth specified crop insurance rules for disaster-designated counties.
Introduced in House
Introduced in House
Referred to the House Committee on Agriculture.
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