H.R.5480 - Rural Community Revitalization and Transition Act107th Congress (2001-2002)
|Sponsor:||Rep. Chambliss, Saxby [R-GA-8] (Introduced 09/26/2002)|
|Committees:||House - Agriculture|
|Latest Action:||House - 10/04/2002 Executive Comment Requested from USDA. (All Actions)|
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Summary: H.R.5480 — 107th Congress (2001-2002)All Information (Except Text)
Rural Community Revitalization and Transition Act - Amends the Agricultural Adjustment Act of 1938 to direct the Secretary of Agriculture to make tobacco transition payments to qualifying quota owners and active growers of covered tobacco (Flue-cured tobacco, Burley tobacco, Fire-cured tobacco, dark-air cured tobacco, and Virginia sun-cured tobacco). Establishes in the Treasury a tobacco farmer trust fund to carry out such program.
Introduced in House (09/26/2002)
Expresses the sense of Congress that such payments should be afforded capital gains treatment.
Sets forth payment determination provisions for tobacco investment protection payments, including: (1) historic quota production for Flue-cured and Burley tobacco, and for Fire-cured, dark air-cured, and Virginia sun-cured tobacco; (2) counter-cyclical payments for Flue-cured tobacco, and for Burley, dark-air cured, Virginia sun-cured, and Fire-cured tobacco; and (3) direct payments for Flue-cured tobacco, and Burley and other tobacco.
Authorizes the establishment of the Center for Agricultural Innovation which shall be located at a land-grant college or university in a traditional quota State, and shall: (1) coordinate work among land-grant colleges and universities in the Southeast to facilitate development, evaluation, and implementation of new agricultural technologies and enterprises for rural communities; and (2) give priority to developing technologies and enterprises in tobacco-dependent communities.
Establishes in the Department of Agriculture the Tobacco Advisory Board. Terminates marketing quotas for certain types of tobacco. Repeals provisions regarding: (1) Burley tobacco acreage allotment; (2) mandatory sale of Burley and Flue-cured tobacco acreage allotments and marketing quotas; (3) sale or lease of acreage allotments; and (4) farm poundage quotas for certain types of tobacco.
Revises provisions regarding: (1) national marketing quota; (2) apportionment of national marketing quota; (3) lease and transfer of acreage allotments; and (4) acreage-poundage quotas.