To amend the Agricultural Adjustment Act to require the Secretary of Agriculture to establish a pilot program under which milk producers and cooperatives will be permitted to enter into forward price contracts with milk handlers.
The source supplies the latest action, but no lifecycle stage.
Latest action (11 Aug 1998): Executive Comment Requested from USDA.
What this bill does
This bill, H.R. 4360, would require the Secretary of Agriculture to create a pilot program. Under this program, milk producers and cooperatives would be allowed to voluntarily enter into forward price contracts with milk handlers. These contracts would allow parties to agree on a price for milk in advance.
The bill specifies that payments and prices under these forward contracts would be considered to meet certain regulated minimum milk price requirements. This provision would apply to federally regulated milk that is involved in interstate or foreign commerce. The authority for this pilot program would end three years after it is established.
This bill was introduced in the House of Representatives in July 1998. It is currently in the committee stage, meaning it has been referred to the House Committee on Agriculture and has not yet advanced further in the legislative process.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
Amends the Agricultural Adjustment Act, reenacted with amendments by the Agricultural Marketing Agreement Act of 1937, to direct the Secretary of Agriculture to establish a pilot program permitting milk producers and cooperatives to voluntarily enter into forward price contracts with milk handlers.
Timeline
11 Aug 1998
Executive Comment Requested from USDA.
Common questions
- What does H.R. 4360 do?
- This bill, H.R. 4360, would require the Secretary of Agriculture to create a pilot program. Under this program, milk producers and cooperatives would be allowed to voluntarily enter into forward price contracts with milk handlers. These contracts would allow parties to agree on a price for milk in advance. The bill specifies that payments and prices under these forward contracts would be considered to meet certain regulated minimum milk price requirements. This provision would apply to federally regulated milk that is involved in interstate or foreign commerce. The authority for this pilot program would end three years after it is established. This bill was introduced in the House of Representatives in July 1998. It is currently in the committee stage, meaning it has been referred to the House Committee on Agriculture and has not yet advanced further in the legislative process.
- Has H.R. 4360 become law?
- The source does not supply a confirmed lifecycle stage for H.R. 4360. Check the latest action and official source below.
- Who sponsored H.R. 4360?
- H.R. 4360 was sponsored by Rep. Pombo, Richard W. [R-CA-11] (R-CA), with 1 cosponsor.
- What's the latest action on H.R. 4360?
- Executive Comment Requested from USDA. (11 Aug 1998).
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