[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1468 Introduced in House (IH)]







106th CONGRESS
  1st Session
                                H. R. 1468

   To amend the Agricultural Market Transition Act to eliminate the 
  limitation on loan rates for marketing assistance loans through the 
                            2002 crop year.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 15, 1999

   Mr. Thune (for himself, Mr. Pomeroy, Mr. Minge, and Mrs. Emerson) 
 introduced the following bill; which was referred to the Committee on 
                              Agriculture

_______________________________________________________________________

                                 A BILL


 
   To amend the Agricultural Market Transition Act to eliminate the 
  limitation on loan rates for marketing assistance loans through the 
                            2002 crop year.

    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 ``Farm Income Security Act of 1999''.

SEC. 2. LOAN RATES FOR MARKETING ASSISTANCE LOANS FOR CERTAIN CROPS.

    (a) Wheat.--Subsection (a) of section 132 of the Agricultural 
Market Transition Act (7 U.S.C. 7232) is amended by striking paragraph 
(1) and inserting the following new paragraph:
            ``(1) Loan rate.--Subject to paragraph (2), the loan rate 
        for a marketing assistance loan under section 131 for wheat 
        shall be equal to not less than 85 percent of the simple 
        average price received by producers of wheat, as determined by 
        the Secretary, during the marketing years for the immediately 
        preceding 5 crops of wheat, excluding the year in which the 
        average price was the highest and the year in which the average 
        price was the lowest in the period.''.
    (b) Feed Grains.--Subsection (b) of such section is amended by 
striking paragraph (1) and inserting the following new paragraph:
            ``(1) Loan rate for corn.--Subject to paragraph (2), the 
        loan rate for a marketing assistance loan under section 131 for 
        corn shall be equal to not less than 85 percent of the simple 
        average price received by producers of corn, as determined by 
        the Secretary, during the marketing years for the immediately 
        preceding 5 crops of corn, excluding the year in which the 
        average price was the highest and the year in which the average 
        price was the lowest in the period.''.
    (c) Upland Cotton.--Subsection (c)(2) of such section is amended by 
striking ``or more than $0.5192 per pound''.
    (d) Extra Long Staple Cotton.--Subsection (d) of such section is 
amended to read as follows:
    ``(d) Extra Long Staple Cotton.--The loan rate for a marketing 
assistance loan under section 131 for extra long staple cotton shall be 
equal to not less than 85 percent of the simple average price received 
by producers of extra long staple cotton, as determined by the 
Secretary, during 3 years of the 5-year period ending July 31 of the 
year preceding the year in which the crop is planted, excluding the 
year in which the average price was the highest and the year in which 
the average price was the lowest in the period.''.
    (e) Rice.--Subsection (e) of such section is amended by inserting 
``not less than'' after ``shall be''.
    (f) Oilseeds.--Subsection (f) of such section is amended--
            (1) in paragraph (1)(B), by striking ``or more than 
        $5.26''; and
            (2) in paragraph (2)(B), by striking ``or more than 
        $0.093''.
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