3.0.0 986 2023-01-15T22:03:54Z 2023-01-15T22:03:54Z House H HR 2003-02-27 108 hsag00 Agriculture Committee House Standing hsag14 Conservation, Research, and Biotechnology Subcommittee Referred to 2003-03-11T16:34:53Z Referred to 2003-02-27T18:11:25Z hswm00 Ways and Means Committee House Standing Referred to 2003-02-27T18:11:30Z 2003-03-11 hsag14 Conservation, Research, and Biotechnology Subcommittee 1 House committee actions Referred to the Subcommittee on Specialty Crops and Foreign Agriculture Programs. Committee 2003-02-27 Referred to the Committee on Agriculture, and in addition to the Committee on Ways and Means, 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. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2003-02-27 Referred to the Committee on Agriculture, and in addition to the Committee on Ways and Means, 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. IntroReferral H11100-A 9 Library of Congress 2003-02-27 Referred to the Committee on Agriculture, and in addition to the Committee on Ways and Means, 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. IntroReferral H11100 2 House floor actions hsag00 Agriculture Committee 2003-02-27 Introduced in House IntroReferral Intro-H 9 Library of Congress 2003-02-27 Introduced in House IntroReferral 1000 9 Library of Congress G000280 Rep. Goode, Virgil H., Jr. [R-VA-5] VIRGIL GOODE R VA H. 5 N L000293 Rep. Lewis, Ron [R-KY-2] RON LEWIS R KY 2 2003-02-27 True J000255 Rep. Jones, Walter B., Jr. [R-NC-3] WALTER JONES R NC B. 3 2003-02-27 True Agriculture and Food Acreage allotments Agricultural cooperatives Agricultural credit Agricultural prices Agricultural subsidies Agriculture in foreign trade Capital gains tax Commerce Compensation (Law) Crop insurance Economics and Public Finance Executive reorganization Farm income Farm production quotas Federal incorporation Finance and Financial Sector Fines (Penalties) Foreign Trade and International Finance Government Operations and Politics Government corporations Government trust funds Imports Income tax Law Licenses Liens Marketing of farm produce Marketing orders Quality of products Referendum Tax rates Taxation Tobacco Tobacco industry Agriculture and Food 00 2003-02-27 Introduced in House 2006-11-28T17:35:40Z Directs the Corporation to provide: (1) compensation (based upon pounds and base quota level) to eligible tobacco quota holders for loss of tobacco quota asset value; and (2) transition payments (based upon pounds and production base) to eligible active tobacco producers.

Directs the Secretary of Agriculture to forgive specified loans made to tobacco producer-owned cooperative marketing associations, and transfer related inventories to the Commodity Credit Corporation. Transfers related funds held in a No Net Cost Tobacco Fund or No Net Cost Tobacco Account to the Fund.

Directs the Corporation to consider transition payments for other persons involved in tobacco production and marketing.

Amends the Internal Revenue Code to treat: (1) tobacco quota holder compensation as long-term capital gain; and (2) transition payments as ordinary income.

Establishes the Tobacco Production Control Corporation which shall: (1) be responsible for promulgating rules governing the production, marketing, importation, exportation, and consumer quality assurances for each kind of tobacco; (2) establish a system of tobacco production and marketing licensing (sets forth license provisions); (3) determine tobacco base price levels; and (4) conduct a program referendum if requested by a certain number of licensees.

Repeals the Tobacco Control Act and specified other agricultural provisions to terminate tobacco marketing quota and related programs.]]>

Tobacco Market Transition Act Display Title Tobacco Market Transition Act Official Title as Introduced To replace the existing Federal tobacco program with a federally chartered corporation to ensure the stability of the price and supply of domestically produced tobacco, to compensate quota holders for the loss of tobacco quota asset value, to provide transition assistance for active tobacco producers, to increase the competitiveness of domestically produced tobacco, and for other purposes. Introduced in House IH Short Titles as Introduced Tobacco Market Transition Act Introduced in House 2003-02-27T05:00:00Z 2003-03-11 Referred to the Subcommittee on Specialty Crops and Foreign Agriculture Programs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.