H.R. 4265 (105th): Emergency Farm Financial Relief Act

105th Congress, 1997–1998. Text as of Jul 17, 1998 (Introduced).

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HR 4265 IH

105th CONGRESS

2d Session

H. R. 4265

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 HOUSE OF REPRESENTATIVES

July 17, 1998

Mr. SMITH of Oregon (for himself, Mr. COMBEST, Mr. BARRETT of Nebraska, Mr. EWING, Mr. POMBO, Mr. THUNE, Mr. DOOLITTLE, Mr. LUCAS of Oklahoma, Mr. LEWIS of Kentucky, Mr. LAHOOD, Mr. BRYANT, Mrs. EMERSON, Mr. COOKSEY, Mr. BOEHNER, Mrs. CHENOWETH, Mr. EVERETT, Mr. PICKERING, Mr. SMITH of Michigan, Mr. MORAN of Kansas, Mr. JENKINS, Mr. CHAMBLISS, Mr. FOLEY, Mr. CANADY of Florida, Mr. HOSTETTLER, Mr. BLUNT, Mr. BOB SCHAFFER of Colorado, Mr. THORNBERRY, Mr. LATHAM, Mr. BUYER, Mr. JONES, Mr. WATTS of Oklahoma, Mr. WATKINS, Mrs. CUBIN, Mr. NETHERCUTT, Mr. GUTKNECHT, Mr. SKEEN, Mr. SESSIONS, Mr. WHITE, Mr. HASTINGS of Washington, Mr. CRAPO, Mr. GANSKE, Mr. NUSSLE, Mr. THOMAS, Mr. LEACH, Mr. BUNNING, Mr. STUMP, Mr. BRADY of Texas, Mr. PAUL, Mr. MCCRERY, and Mr. MCINTOSH) introduced the following bill; which was referred to the Committee on Agriculture


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 new paragraph:

      ‘(3) SPECIAL RULE FOR FISCAL YEAR 1999- Notwithstanding the times for making an annual contract payment specified in paragraph (1) or (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 during fiscal year 1999 at such time or times during that fiscal year as the owner or producer may specify, so long as the full payment is completed by the end of that fiscal year.’.