Agricultural Commodities Price Enhancement Act of 2023
- Last Action
- 9/19/2023
Actions
- 2023-09-19Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.
- 2023-08-01Referred to the House Committee on Agriculture.
- 2023-08-01Introduced in House
- 2023-08-01Introduced in House
CRS Summary
As of 2023-08-01 (00)
Agricultural Commodities Price Enhancement Act of 2023
This bill increases the reference prices for certain commodities under the Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs. Specifically, the bill increases the reference prices for wheat, corn, soybeans, peanuts, and seed cotton.
The ARC and PLC programs, administered by the Farm Service Agency, offer financial assistance to eligible agricultural producers, and the reference prices are used to calculate benefits under the programs. The ARC program is an income support program that provides payments to producers when actual crop revenue declines below a specified guarantee level. The PLC program provides income support payments when the effective price for a covered commodity falls below its effective reference price.
Subjects
- Agricultural prices, subsidies, credit
- Grain
Sourced from Congress.gov (public domain).
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