Milk Marketing and Promotion Act of 1982

Milk Marketing and Promotion Act of 1982 - Amends the Agricultural Act of 1949 to base milk price supports on either a supply management price or a price that would ensure that pooled stocks are used to meet milk demands.

Requires the Secretary of Agriculture: (1) to determine a national milk supply marketing base (supply and commercial need); and (2) when without a supply management program projected supplies exceed demand by 5,000,000,000 pounds, to conduct a referendum among milk producers to determine whether they favor a supply management and related price support program. Sets forth supply management program provisions including: (1) State, county, and individual producer marketing bases; (2) assessments for overproduction; and (3) fines for nonpayment of assessments or other fees (with judicial review in U.S. district courts).

Establishes in the Treasury a Milk and Milk Products Promotion Fund.

Establishes in the Department of Agriculture a Federal Milk Board to: (1) expand foreign markets; (2) investigate matters relating to the production, processing, or marketing of milk; and (3) recommend legislation as necessary. Sets forth membership and operating provisions of the Board.

Amends the Agricultural Marketing Agreement Act of 1937 to penalize handlers who make payments to milk producers in excess of applicable marketing orders.

Amends Federal law to set aside specified amounts from funds appropriated for agricultural exports for milk and milk product exports.