A bill to make equitable adjustments in the commodity programs for wheat and feed grains and in the application of the maximum payment limitation, and for other purposes.
Farm Policy Reform Act of 1986 - Title I: Wheat - Amends the Agricultural Act of 1949 to require marketing loan programs for the 1987 through 1990 wheat crops.
Provides that participating producers shall determine acreage limitations for the 1987 through 1990 wheat crops. Authorizes the Secretary to modify such levels for the 1988 through 1990 crops.
Title II: Feed Grains - Amends the Agricultural Act of 1949 to set forth parallel provisions for the 1987 through 1990 feed grain crops.
Title III: Maximum Payment Limitation - Amends the Food Security Act to 1985 to lower to 20 percent the maximum ownership interest in a corporation or limited partnership, or the beneficial interest in a trust or estate, which a person may have in order to be considered a separate person from such entity for agricultural payment limitation purposes.
Prohibits agricultural payments to foreign operators.
Title IV: Soybean and Oilseed Marketing Loans - Amends the Agricultural Act of 1949 to require a marketing loan program for the 1986 through 1990 crops of soybeans and oilseeds.
Introduced in Senate
Read twice and referred to the Committee on Agriculture.
Referred to Subcommittee on Agricultural Production.
Committee on Agriculture requested executive comment from Agriculture Department.
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