Amendment sought to replace the current daily posted county prices (PCPs) used for determing loan deficiency payment rates and repayment rates for marketing assistance loans with a monthly PCP for each crop.

Purpose:

An amendment numbered 13 printed in Part B of House Report 110-261 to replace the current daily posted county prices (PCPs) used for determing loan deficiency payment rates and repayment rates for marketing assistance loans with a monthly PCP for each crop. It would revise requirements for establishing a producer's loan deficiency payment (LDP) and loan repayment rate to be based on the month that beneficial interest is lost. The amendment aims to address farmers taking advantage of short-term market events to lock in artificially high loan deficiency payments, while actually selling the commodity later at prices well above loan rate.

House Amendment Code:

(A009)

House Tally Clerks use this code to manage amendment information.