S.3701 - Rural America Preservation Act of 2010111th Congress (2009-2010)
|Sponsor:||Sen. Grassley, Chuck [R-IA] (Introduced 08/04/2010)|
|Committees:||Senate - Agriculture, Nutrition, and Forestry|
|Latest Action:||08/04/2010 Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (All Actions)|
This bill has the status Introduced
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Summary: S.3701 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in Senate (08/04/2010)
Rural America Preservation Act of 2010 - Amends the Food Security Act of 1985 to cap maximum annual direct and counter-cyclical payments to an individual (for covered commodities and peanuts) at $20,000 and $30,000, respectively. Revises limitation provisions for marketing loan gains, loan deficiency payments, and commodity certificate transactions, and establishes an annual combined limitation of $75,000 for such payments. Doubles payment limitations for single farming operations. Limits an individual or a legal entity to a combined annual payment of $250,000.
Sets forth attribution of payment provisions for: (1) individuals; (2) legal entities; and (3) embedded legal entities.
Revises provisions respecting limitation of benefits to active farmers.
Makes a person who commits fraud in connection with a scheme or device to evade certain program limitations ineligible for farm benefits for six years.
Makes foreign individuals and foreign entities ineligible for agricultural program benefits.