Summary: H.R.5480 — 107th Congress (2001-2002)All Information (Except Text)

There is one summary for H.R.5480. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (09/26/2002)

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.

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.