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

This section sets minimum and maximum support levels for storable nonbasic farm commodities covered by a marketing program. The minimum depends on the commodity’s supply percentage, with a limited Secretary-authorized reduction.

Price support must, as far as feasible, be available to producers of any storable nonbasic agricultural commodity covered by a marketing quota, agreement, or order program and complying with it. Support may not exceed 90% of the commodity’s parity price. It may not be below the table’s percentage of parity price: supply not over 102%, 90%; over 102% through 104%, 89%; over 104% through 106%, 88%; over 106% through 108%, 87%; over 108% through 110%, 86%; over 110% through 112%, 85%; over 112% through 114%, 84%; over 114% through 116%, 83%; over 116% through 118%, 82%; over 118% through 120%, 81%; over 120% through 122%, 80%; over 122% through 124%, 79%; over 124% through 126%, 78%; over 126% through 128%, 77%; over 128% through 130%, 76%; and over 130%, 75%. The level may be below the table minimum if the Secretary, after examining funds available for mandatory support and considering section 1421(b) factors, decides the lower level is desirable and proper.

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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