[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[S. 2344 Introduced in Senate (IS)]

  2d Session
                                S. 2344

  To amend the Agricultural Market Transition Act to provide for the 
 advance payment, in full, of the fiscal year 1999 payments otherwise 
            required under production flexibility contracts.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 22, 1998

 Mr. Coverdell (for himself, Mr. Faircloth, Mr. Lott, Mrs. Hutchison, 
   Mr. Gramm, Mr. Shelby, Mr. Lugar, and Mr. Cochran) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Agriculture, Nutrition, and Forestry

_______________________________________________________________________

                                 A BILL


 
  To amend the Agricultural Market Transition Act to provide for the 
 advance payment, in full, of the fiscal year 1999 payments otherwise 
            required under production flexibility contracts.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Emergency Farm Financial Relief 
Act''.

SEC. 2. SPECIAL RULE FOR FISCAL YEAR 1999 PAYMENT UNDER PRODUCTION 
              FLEXIBILITY CONTRACTS.

    Section 112(d) of the Agricultural Market Transition Act (7 U.S.C. 
7212(d)) is amended by adding at the end the following:
            ``(3) Special rule for fiscal year 1999.--Notwithstanding 
        the requirements for making an annual contract payment 
        specified in paragraphs (1) and (2), at the option of the owner 
        or producer, the Secretary shall pay the full amount (or such 
        portion as the owner or producer may specify) of the contract 
        payment required to be paid for fiscal year 1999 at such time 
        or times during that fiscal year as the owner or producer may 
        specify.''.
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