7 U.S.C. § 1448 — Price support levels for storable nonbasic agricultural commodities

submitted 77 years ago by ch. 792 to r/title-7-AGRICULTURE · 306 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

the actual law source: uscode.house.gov ↗public domain

Without restricting price support to those commodities for which a marketing quota or marketing agreement or order program is in effect, price support shall, insofar as feasible, be made available to producers of any storable nonbasic agricultural commodity for which such a program is in effect and who are complying with such program. The level of such support shall not be in excess of 90 per centum of the parity price of such commodity nor less than the level provided in the following table:


If the supply percentage as of the beginning of the marketing year is:	The level of support shall be not less than the following percentage of the parity price:


Not more than 102	90
More than 102 but not more than 104	89
More than 104 but not more than 106	88
More than 106 but not more than 108	87
More than 108 but not more than 110	86
More than 110 but not more than 112	85
More than 112 but not more than 114	84
More than 114 but not more than 116	83
More than 116 but not more than 118	82
More than 118 but not more than 120	81
More than 120 but not more than 122	80
More than 122 but not more than 124	79
More than 124 but not more than 126	78
More than 126 but not more than 128	77
More than 128 but not more than 130	76
More than 130	75

Provided, That the level of price support may be less than the minimum level provided in the foregoing table if the Secretary, after examination of the availability of funds for mandatory price support programs and consideration of the other factors specified in section 1421(b) of this title, determines that such lower level is desirable and proper.

Source credit: (Oct. 31, 1949, ch. 792, title III, § 302, 63 Stat. 1053.)

history & why it existsrecord from the source credit

1949Enacted · Act of Oct. 31, 1949, ch. 792 · 63 Stat. 1053

A history note hasn’t been published yet. The record shows enactment by ch. 792 on 1949-10-31.

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