H.R.4042 - Sugar Equity and Reform Act of 1990101st Congress (1989-1990)
|Sponsor:||Rep. Downey, Thomas J. [D-NY-2] (Introduced 02/21/1990)|
|Committees:||House - Agriculture; Ways and Means|
|Latest Action:||House - 03/14/1990 Referred to the Subcommittee on Trade. (All Actions)|
This bill has the status Introduced
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Summary: H.R.4042 — 101st Congress (1989-1990)All Information (Except Text)
Introduced in House (02/21/1990)
Sugar Equity and Reform Act of 1990 - Title I: Sugar Price Support Program - Amends the Agricultural Act of 1949 to direct the Secretary of Agriculture to support the price of each of the 1991 through 1995 crops of domestically grown sugarcane through six-month nonrecourse loans, with the loan rate for raw cane sugar at 95 percent of the rate announced for the preceding crop year. Requires the loan rate for sugar beets to be fair and reasonable in relation to the rate for sugarcane.
Title II: Regulation of Sugar Imports - Prescribes policy for the regulation of sugar imports, including quotas and lowest tariff rates. Directs the Secretary to announce a market stabilization price and a threshold price for raw sugar no later than 30 days before the beginning of the October 1, 1991, sugar marketing year. Requires the President to maintain the market price for raw sugar at or near the market stabilization price through imposition of tariff rate import quotas on various sugar products.
Amends the Food Security Act of 1985 to repeal the mandate to operate the sugar program at no cost to the Government by preventing the accumulation of sugar acquired by the Commodity Credit Corporation through sugar loan forfeitures. Repeals the requirement that a sugar exporting country verify that it does not import Cuban sugar for reexport to the United States.