To prohibit the anticipated extreme reduction in the national marketing quotas for the 2004 crop of Flue-cured and Burley tobacco, which, if permitted to occur, would mean economic ruin for tobacco farmers and their families.
Directs the Secretary of Agriculture to establish and maintain the national 2004 marketing quota for Flue-cured and Burley tobacco at 2003 levels.
Provides that: (1) A producer-owned cooperative marketing association may fully settle, without further cost to the association, a loan made for the 2004 crop of Flue-cured and Burley tobacco by forfeiting to the Commodity Credit Corporation (CCC) the Flue-cured or Burley tobacco covered by the loan regardless of the condition of the tobacco; (2) any resultant CCC losses shall not be charged to the No Net Cost Tobacco Account; or affect certain related assessments; and (3) forfeited tobacco shall not be counted towards quotas, or sold for use in the United States.
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