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7 U.S.C. § 1741Maximum and minimum quantities for set-aside; “commodity set-aside” defined

submitted 72 years ago by ch. 1041 to r/title-7-AGRICULTURE · 107 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Commodity Credit Corporation must set aside specified maximum and minimum amounts of certain commodities from 1954 and earlier crops as rapidly as the Secretary of Agriculture considers practical. These amounts are called the “commodity set-aside.”

The Commodity Credit Corporation must, as rapidly as the Secretary of Agriculture finds practical, set aside in its inventories commodities or products acquired in connection with price-support operations from crops and production of 1954 and earlier years. It may hold no more than, and must hold no less than, these amounts: - Wheat: maximum 500,000,000 bushels; minimum 400,000,000 bushels. - Upland cotton: maximum 4,000,000 bales; minimum 3,000,000 bales. - Cottonseed oil: maximum 500,000,000 pounds; minimum 0. - Butter: maximum 200,000,000 pounds; minimum 0. - Nonfat dry milk solids: maximum 300,000,000 pounds; minimum 0. - Cheese: maximum 150,000,000 pounds; minimum 0. These amounts are called the “commodity set-aside.”
the actual law source: uscode.house.gov ↗public domain

The Commodity Credit Corporation shall, as rapidly as the Secretary of Agriculture shall determine to be practicable, set aside within its inventories not more than the following maximum quantities and not less than the following minimum quantities of agricultural commodities or products thereof heretofore or hereafter acquired by it from 1954 and prior years’ crops and production in connection with its price support operations:

Commodity

Maximum quantity

Minimum quantity

Wheat (bushels)

500,000,000

400,000,000

Upland cotton (bales)

4,000,000

3,000,000

Cottonseed oil (pounds)

500,000,000

0

Butter (pounds)

200,000,000

0

Nonfat dry milk solids (pounds)

300,000,000

0

Cheese (pounds)

150,000,000

0

Such quantities shall be known as the “commodity set-aside”.

Source credit: (Aug. 28, 1954, ch. 1041, title I, § 101, 68 Stat. 897.)

history & why it existsrecord from the source credit
  • 1954Enacted · Act of Aug. 28, 1954, ch. 1041 · 68 Stat. 897

A history note hasn’t been published yet. The record shows enactment by ch. 1041 on 1954-08-28.

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