To amend the Agriculture Market Transition Act to extend the availability of marketing assistance loans beyond the 2002 crop year, to increase the loans rates for such loans, to extend the duration of such loans, and to revise the limitations on the total amount of marketing loan gains and loan deficiency payments that a producer may receive.
Increases program loan rates for wheat, corn, upland cotton. extra long staple cotton, rice, soybeans, and other oil seeds. Establishes individual loan rates for grain sorghum, oats, and barley.
Increases loan duration to 20 months, and authorizes extensions.
Provides recourse loans to producers otherwise prevented by the Food Security Act of 1985 from obtaining nonrecourse marketing loans.
Amends the Food Security Act of 1985 to increase the limit on marketing loan gains and loan deficiency payments. Establishes additional limitations.
Introduced in House
Introduced in House
Referred to the House Committee on Agriculture.
Sponsor introductory remarks on measure. (CR E1337)
Executive Comment Requested from USDA.
Referred to the Subcommittee on General Farm Commodities, Resource Conservation and Credit.
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