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HR 2568 IH

To provide partial compensation to farm owners and producers for the loss of markets for the 1999 crop of commodities covered by production flexibility contracts under the Agricultural Market Transition Act.

July 20, 1999

Mr. MORAN of Kansas (for himself, Mr. THUNE, Mr. BARRETT of Nebraska, Mr. LUCAS of Oklahoma, Mrs. EMERSON, Mr. TALENT, and Mr. WATKINS) introduced the following bill; which was referred to the Committee on Agriculture, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

To provide partial compensation to farm owners and producers for the loss of markets for the 1999 crop of commodities covered by production flexibility contracts under the Agricultural Market Transition Act.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Market Loss Assistance Act of 1999'.

SEC. 2. MARKET LOSS ASSISTANCE FOR FARM OWNERS AND PRODUCERS.

(a) IN GENERAL- Subject to subsection (e), the Secretary of Agriculture shall use not more than $4,202,250,000 for assistance to owners and producers on a farm who are eligible for final payments for fiscal year 1999 under a production flexibility contract for the farm under the Agricultural Market Transition Act (7 U.S.C. 7201 et seq.) to partially compensate the owners and producers for the loss of markets for the 1999 crop of a commodity.

(b) AMOUNT- The amount of assistance made available to owners and producers on a farm under this section shall be proportional to the amount of the contract payment received by the owners and producers for fiscal year 1999 under a production flexibility contract for the farm under the Agricultural Market Transition Act.

(c) TIME FOR PAYMENT- The assistance made available under this section for an eligible owner or producer shall be made as soon as practicable after the date of enactment of this Act.

(d) USE OF COMMODITY CREDIT CORPORATION- Subject to subsection (e), the Secretary shall use the funds, facilities, and authorities of the Commodity Credit Corporation to carry out this section.

(e) EMERGENCY REQUIREMENT- Notwithstanding the last sentence of section 252(e) of the Balanced Budget and Emergency Deficit Control Act of 1985, amounts made available by this section are designated by the Congress as an emergency requirement pursuant to section 252(e) of the Balanced Budget and Emergency Deficit Control Act of 1985: Provided, That such amounts shall be available only to the extent that an official budget request that includes designation of the entire amount of the request as an emergency requirement as defined in the Balanced Budget and Emergency Deficit Control Act of 1985, is transmitted by the President to Congress.

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