To prohibit the anticipated extreme reduction in the national marketing quotas for the 2005 crop of Flue-cured and Burley tobacco, which, if permitted to occur, would mean economic ruin for tobacco farmers and their families.
About This Bill
Committee
Latest Action · August 2, 2004
Referred to the Subcommittee on Specialty Crops and Foreign Agriculture Programs.
Directs the Secretary of Agriculture to establish and maintain the national marketing quota for 2005 Flue-cured and Burley tobacco at the 2004 level.
Authorizes a producer-owned cooperative marketing association to fully settle a loan made for the 2005 crop of Flue-cured and Burley tobacco by forfeiting to the Commodity Credit Corporation (CCC) the tobacco covered by the loan regardless of its condition. Provides that: (1) any resultant CCC losses shall not be charged to the No Net Cost Tobacco Account, and shall not affect the amount of certain Flue-cured or Burley tobacco assessments; and (2) forfeited tobacco shall not be counted for the Flue-cured or Burley tobacco quota, nor sold for use in the United States, except that the CCC may market directly or through the use of U.S. leaf dealers such tobacco outside the United States.
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