A bill to extend the Rice Production Act of 1975 through the 1978 crop.

Extends the provisions of the Rice Production Act of 1975 through the 1978 crop. Sets the established price for 1978 as the established price for the 1977 crop adjusted to reflect any changes in the index of prices paid to farmers for specified items during the twelve-month period immediately preceding July 31, 1978. Sets the loan and purchase rate for 1978 at such rate as bears the same ratio to the loan rate for the 1977 crop as the established price for the 1978 crop bears to the established price for the 1977 crop.