A bill to restore and improve the farmer owned reserve program.
Farmer Owned Reserve Restoration Act of 1999 - Amends the Agricultural Market Transition Act to restore the wheat and feed grain farmer owned reserve program. (Eliminates the provision suspending the program for such producers through crop or calendar year 2002.)
Amends the Agricultural Act of 1949 with respect to the program to: (1) revise extended price support loan interest charge provisions; (2) permit advance storage payments and revise storage loan termination provisions; (3) reduce maximum commodity amounts; and (4) set forth prices (compared to loan rates) at which, and conditions under which, a producer may withdraw stored commodities.
Introduced in Senate
Read twice and referred to the Committee on Agriculture.
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