Farm Crisis Act of 1982

(Reported to House from the Committee on Agriculture with amendment, H. Rept. 97-813)

Title I: Farm Storage Facility Loan Program - Amends the Commodity Credit Corporation Charter Act to require the Commodity Credit Corporation (CCC) to guarantee grain storage facility loans to growers for up to 90 percent of each loan, and an aggregate annual amount of principal and interest of not more than $250,000,000.

Title II: Barter of Wheat, Feed Grains, Upland Cotton, and Rice for Strategic and Critical Materials and Petroleum Products - Requires (currently authorizes) the CCC to barter wheat, feed grains, cotton, and rice for strategic and critical materials from abroad. Bases reimbursement upon the Administrator of General Services' estimate rather than the Secretary of the Treasury's as currently provided for.

Requires the CCC to barter such commodities for petroleum products for the Strategic Petroleum Reserve when U.S. stocks fall below specified levels. Requires with regard to such petroleum products that the CCC: (1) transfer them to the Reserve without reimbursement; (2) use normal commercial trade channels to make the exchanges; and (3) make extended agreements as necessary (for petroleum and strategic materials).

Title III: Emergency Agricultural Credit - Amends the Emergency Agricultural Credit Adjustment Act of 1978 to make the emergency agricultural credit program mandatory. Reduces personal outstanding debt limits on: (1) loans under such Act from $400,000 to $200,000; and (2) loans under such Act and under the Consolidated Farm and Rural Development Act from $650,000 to $450,000. Extends new loan authority through FY 1983.

Title IV: Agricultural Exports - Expresses the sense of the Congress that: (1) for FY 1983, at least $1,000,000,000 be appropriated for the agricultural export credit revolving fund under the Food For Peace Act of 1966; and (2) the Secretary of Agriculture should initiate negotiations with the Soviet Union for a multiyear grain sale agreement.

Amends the Agricultural Act of 1949 to provide for a five percent loan rate increase for the 1983 wheat and corn crops if Presidential policy precludes a long-term grain agreement in excess of one year with the Soviet Union.

Title V: White House Conference on Agriculture - Requests the President to convene a White House Conference on Agriculture within one year. Requires a report to the President and the Congress.