A bill to provide a safety net for farmers and consumers and to promote the development of farmer-owned value added processing facilities, and for other purposes.
Agricultural Safety Net Act of 1997 - Amends the Agricultural Market Transition Act to revise marketing assistance loan rates for wheat, feed grains, upland and extra long staple cotton, and oilseeds. Authorizes six-month loan extensions.
Amends the Federal Crop Insurance Act to authorize coverage for reduced or prevented planting revenue loss.
Amends the Consolidated Farm and Rural Development Act to give loan priority to projects for farmer-owned value-added processing facilities.
Introduced in Senate
Read twice and referred to the Committee on Agriculture.
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