To terminate the price support and marketing quota programs for peanuts.

To terminate the price support and marketing quota programs for peanuts.

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

SECTION 1. TERMINATION OF PRICE SUPPORT AND MARKETING QUOTA PROGRAMS FOR PEANUTS.

(a) PRICE SUPPORT- Section 155 of the Agricultural Market Transition Act (title I of Public Law 104-127; 7 U.S.C. 7271) is repealed.

(b) MARKETING QUOTA- Part VI of subtitle B of title III of the Agricultural Adjustment Act of 1938 (7 U.S.C. 1357-1359a), relating to peanuts, is repealed.

(c) CONFORMING AMENDMENTS- The Agricultural Act of 1949 (7 U.S.C. 1441 et seq.) is amended--

(1) in section 101(b) (7 U.S.C. 1441(b)), by striking `and peanuts'; and

(2) in section 408(c) (7 U.S.C. 1428(c)), by striking `peanuts,'.

(e) PROHIBITION ON SUBSEQUENT PROVISION OF PRICE SUPPORT-

(1) PROHIBITION- After the effective date of this section, the Secretary of Agriculture may not make price support available, whether in the form of loans, purchases, or other operations, to peanut producers for the 2001 and subsequent crops of peanuts by using the funds of the Commodity Credit Corporation or under the authority of any law.

(2) OUTSTANDING LOANS- Notwithstanding paragraph (1), the Secretary shall settle any outstanding loans under section 155 of the Agricultural Market Transition Act (title I of Public Law 104-127; 7 U.S.C. 7271) made before the effective date of this section with regard to peanuts.

(f) CONTINUED LIABILITY OF PRODUCERS- An amendment made by this section shall not affect the liability of any person under any provision of law as in effect before the effective date of this section.

(g) EFFECTIVE DATE- The amendments made by this section shall take effect on the date of the enactment of this Act and shall apply with respect to the 2001 and subsequent crops of peanuts.