Summary: H.R.5499 — 99th Congress (1985-1986)All Information (Except Text)

There is one summary for H.R.5499. Bill summaries are authored by CRS.

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Introduced in House (09/11/1986)

Amends the Agricultural Act of 1949 to repeal the Secretary of Agriculture's authority to reduce the soybean loan rate.

Provides, with regard to the 1986 and 1987 soybean crops, that unless a producer option payment plan is in effect the Secretary shall permit loan repayments at the lesser of the loan level or the prevailing world market price.

Authorizes the Secretary to implement a producer option payment program for the 1986 and 1987 soybean crops.