To prohibit the Secretary of Agriculture from discounting loan deficiency
payments under the Agricultural Market Transition Act for club wheat and
to compensate club wheat producers... (Introduced in the House)
HR 734 IH
106th CONGRESS
1st Session
H. R. 734
To prohibit the Secretary of Agriculture from discounting loan deficiency
payments under the Agricultural Market Transition Act for club wheat and
to compensate club wheat producers who received discounted loan deficiency
payments as a result of the erroneous decision of the Department of Agriculture
to assess a premium adjustment against club wheat.
IN THE HOUSE OF REPRESENTATIVES
February 11, 1999
Mr. NETHERCUTT introduced the following bill; which was referred to the
Committee on Agriculture
A BILL
To prohibit the Secretary of Agriculture from discounting loan deficiency
payments under the Agricultural Market Transition Act for club wheat and
to compensate club wheat producers who received discounted loan deficiency
payments as a result of the erroneous decision of the Department of Agriculture
to assess a premium adjustment against club wheat.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. EQUALIZATION OF LOAN DEFICIENCY PAYMENTS FOR CLUB WHEAT PRODUCERS.
(a) PREMIUM ADJUSTMENT PROHIBITED- In making loan deficiency payments
available under section 135 of the Agricultural Market Transition Act (7
U.S.C. 7235) to producers of club wheat, the Secretary of Agriculture may
not assess a premium adjustment on the amount that would otherwise be computed
for club wheat under the section to reflect the premium that is paid for
club wheat to ensure its availability to create a blended specialty product
known as western white wheat.
(b) RETROACTIVE APPLICATION-
(1) COMPENSATION REQUIRED- As soon as practicable after the date of
the enactment of this Act, the Secretary of Agriculture shall make a payment
to each producer of club wheat that received a discounted loan deficiency
payment under section 135 of the Agricultural Market Transition Act (7
U.S.C. 7235) before that date as a result of the assessment of a premium
adjustment against club wheat. The amount of the payment for a producer
shall be equal to the difference between--
(A) the loan deficiency payment that would have been made to the producer
in the absence of the premium adjustment; and
(B) the loan deficiency payment actually received by the producer.
(2) FUNDING SOURCE- The Secretary shall use funds available to provide
marketing assistance loans and loan deficiency payments under subtitle
C of the Agricultural Market Transition Act (7 U.S.C. 7231 et seq.) to
make the payments required by this subsection.