Amends the Food and Agriculture Act of 1977 to require the Secretary of Agriculture to establish the loan level for an agricultural export suspended for reasons of foreign policy or national security as the greater of such commodity's average market price: (1) for the 60-day period ending on such suspension; or (2) on the fifth day before such suspension (currently 90 percent of parity in situations of short supplies).
Requires the Commodity Credit Corporation to acquire and hold the amount of such commodity that was to have been exported under the suspended contracts.
Other Measure S.884 (Amended) Passed House in Lieu.
Introduced in House
Introduced in House
Referred to House Committee on Agriculture.
For Further Action See H.R.3603.
For Further Action See H.R.3603.
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