A bill to amend the Food Security Act of 1985 to strengthen payment limitations for commodity payments and benefits.
Last action on Mar 19, 2003Read twice and referred to the Committee on Agriculture, ...
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Summary
Amends the Food Security Act of 1985 to reduce maximum annual direct and counter-cyclical commodity payments to $20,000 and $30,000, respectively. Revises limitation provisions for marketing loan gains, loan deficiency payments, and commodity certificate transactions, and establishes an annual combined limitation of $87,500 for such payments.
Doubles payment limitations for single farming operations. Limits an individual to a combined annual payment of $275,000.
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