Summary: S.553 — 101st Congress (1989-1990)All Information (Except Text)

Bill summaries are authored by CRS.

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Passed House amended (03/15/1989)

Provides that with regard to specified scheduled milk price support increases and decreases: (1) at least 75 percent of such increases shall be for non-fat dry milk and not more than 25 percent for butter; and (2) at least 75 percent of such decreases shall be for butter and not more than 25 percent for non-fat dry milk.

Authorizes the Secretary of Agriculture to allocate such price support rate decreases between non-fat dry milk and butter in any other manner that is least expensive for the Commodity Credit Corporation. Requires the Secretary to notify the appropriate congressional committees of any such determination.