3.0.0 1721 2023-01-12T17:52:45Z 2023-01-12T17:52:45Z Senate S S 2007-06-27 110 ssfi00 Finance Committee Senate Standing Referred to 2007-06-28T00:28:44Z To amend the Farm Security and Rural Investment Act of 2002 to promote growth and opportunity for the dairy industry in the United States, and for other purposes. 110 2462 HR 2007-06-26 Executive Comment Requested from USDA. Identical bill CRS 2007-06-27 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2007-06-27 Sponsor introductory remarks on measure. (CR S8620-8621) IntroReferral B00100 9 Library of Congress 2007-06-27 Introduced in Senate IntroReferral 10000 9 Library of Congress S000709 Sen. Specter, Arlen [R-PA] ARLEN SPECTER R PA N C001070 Sen. Casey, Robert P., Jr. [D-PA] Bob Casey D PA 2007-06-27 True Agriculture and Food Agricultural cooperatives Agricultural credit Agricultural estimating and reporting Agricultural prices Agricultural subsidies Agriculture in foreign trade Commerce Crop insurance Dairy industry Dairy products Disaster relief Economics and Public Finance Emergency Management Federally-guaranteed loans Feeds Finance and Financial Sector Foreign Trade and International Finance Foreign trade promotion Governmental investigations Marketing orders Milk Agriculture and Food 00 2007-06-27 Introduced in Senate 2007-07-26T19:52:22Z Amends the Farm Security and Rural Investment Act of 2002 to repeal the dairy price support program.

Amends the national dairy market loss payment program to: (1) extend the sign-up and contract duration periods; (2) replace the "Class 1 milk" definition with a "Class III milk" definition; (3) revise the payment formula (which shall include a feed adjustment factor); and (4) establish a maximum annual payment of $50,000 per dairy operation.

Directs the Secretary of Agriculture to: (1) establish a national dairy options program; and (2) make nonrecourse loans available to commercial processors of cheddar cheese, butter, and nonfat dry milk.

Amends the Federal Crop Insurance Act to direct the Commodity Credit Corporation to carry out a milk revenue insurance pilot program under which dairy producers may elect to receive insurance against revenue loss due to natural disasters and price fluctuations.

Directs the Secretary to: (1) study the economic benefits to milk producers of establishing a two-class system (fluid milk class and manufacturing grade milk class) for classifying milk under federal milk marketing orders; and (2) amend federal milk marketing orders to implement such system if it would benefit milk producers.

Amends the Agricultural Adjustment Act, as amended by the Agricultural Marketing Agreement Act of 1937, to eliminate pilot program status for, and extend, the dairy forward pricing program.

Amends the Consolidated Farm and Rural Development Act to authorize rural industrial assistance loans and loan guarantees for dairy processors to invest in new equipment and technologies.

Amends the Farm Credit Act of 1971 to authorize banks for cooperatives to assist dairy processing cooperatives with export activities.

Amends the National Agricultural Research, Extension, and Teaching Policy Act of 1977 to establish a new subtitle P, entitled the "Federal Dairy Education Loan Forgiveness Act." Directs the Secretary to carry out a dairy education loan forgiveness program under which the Secretary shall assume the obligation to repay a specified amount for one or more qualified loans made to eligible applicants.

Amends the Agricultural Marketing Act of 1946 to provide for mandatory reporting of specified dairy commodities.

]]> A bill to amend the Farm Security and Rural Investment Act of 2002 to promote growth and opportunity for the dairy industry in the United States, and for other purposes. Display Title A bill to amend the Farm Security and Rural Investment Act of 2002 to promote growth and opportunity for the dairy industry in the United States, and for other purposes. Official Title as Introduced A bill to amend the Farm Security and Rural Investment Act of 2002 to promote growth and opportunity for the dairy industry in the United States, and for other purposes. Introduced in Senate IS Short Titles as Introduced for portions of this bill Federal Dairy Education Loan Forgiveness Act Introduced in Senate 2007-06-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s1721is/xml/BILLS-110s1721is.xml 2007-06-27 Read twice and referred to the Committee on Finance. 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.