PUBLIC LAWS-CH. 792-OCT. 31,1949
TITLE IV-MISCELLANEOUS
SEC. 401. (a) The Secretary shall provide the price support author-
ized or required herein through the Commodity Credit Corporation
and other means available to him.
(b) Except as otherwise provided in this Act, the amounts, terms,
and conditions of price support operations and the extent to which
such operations are carried out, shall be determined or approved
Determg
u rtfators by the Secretary. The following factors shall be taken into consid-
eration in determining, in the case of any commodity for which price
support is discretionary, whether a price-support operation shall be
undertaken and the level of such support and, in the case of any com-
modity for which price support is mandatory, the level of support in
excess of the minimum level prescribed for such commodity: (1) the
supply of the commodity in relation to the demand therefor, (2) the
price levels at which other commodities are being supported and, in
the case of feed grains, the feed values of such grains in relation to
corn, (3) the availability of funds, (4) the perishability of the com-
modity, (5) the importance of the commodity to agriculture and the
national economy, (6) the ability to dispose of stocks acquired through
a price-support operation, (7) the need for offsetting temporary losses
of export markets, and (8) the ability and willingness of producers
to keep supplies in line with demand.
produmriance by
(C) Compliance by the producer with acreage allotments, produc-
tion goals and marketing practices (including marketing quotas when
authorized by law), prescribed by the Secretary, may be required as a
condition of eligibility for price support.
price support level.
(d) The level of price support for any commodity shall be deter-
mined upon the basis of its parity price as of the beginning of the mar-
keting year or season in the case of any commodity marketed on a
marketing year or season basis and as of January 1 in the case of any
other commodity.
rice supporte at
SEC. 402. Notwithstanding any other provision of this Act, price
support at a level in excess of the maximum level of price support
otherwise prescribed in this Act may be made available for any agri-
cultural commodity if the Secretary determines, after a public hear-
ing of which reasonable notice has been given, that price support at
such increased level is necessary in order to prevent or alleviate a
shortage in the supply of any agricultural commodity essential to the
national welfare or in order to increase or maintain the production of
any agricultural commodity in the interest of national security. The
Secretary's determination and the record of the hearing shall be avail-
able to the public.
Adjustments.
SEC. 403. Appropriate adjustments may be made in the support
price for any commodity for differences in grade, type, staple, quality,
location, and other factors. Such adjustments shall, so far as prac-
ticable, be made in such manner that the average support price for
such commodity will, on the basis of the anticipated incidence of such
factors, be equal to the level of support determined as provided in this
Act. Middling seven-eighths inch cotton shall be the standard grade
for purposes of parity and price support.
SEC. 404. The Secretary, in carrying out programs under section 32
of Public Law Numbered 320, Seventy-fourth Congress, approved
49
sta.da; August 24, 1935, as amended, and section 6 of the National School
Su.II,
§612c.
Lunch Act may utilize the services and facilities of the Commodity
0Stat. 23 .
Credit Corporation (including but not limited to procurement by
42U. S . C. 155. contract), and make advance payments to it.
dLebibty for def-
SEC. 405. No producer shall be personally liable for any deficiency
arising from the sale of the collateral securing any loan made under
1054
[63 STAT.
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