Agricultural Commodities Price Enhancement Act of 2023

Bill: 118-hr-5101
Sponsor: full_name: Rep. Davis, Donald G. [D-NC-1]
Introduced: 2023-08-01
Policy area: Agriculture and Food
Subjects: Agricultural prices, subsidies, credit

Grain
Latest action: action_date: 2023-09-19
text: Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.

Summaries:
action_date: 2023-08-01
action_desc: Introduced in House
text: <p><strong>Agricultural Commodities Price Enhancement Act of 2023</strong></p><p>This bill increases the reference prices for certain commodities under the Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs. Specifically, the bill increases the reference prices for wheat, corn, soybeans, peanuts, and seed cotton.</p><p>The ARC and PLC programs, administered by the Farm Service Agency, offer financial assistance to eligible agricultural producers, and the reference prices are used to calculate benefits under the programs. The ARC program is an income support program that provides payments to producers when actual crop revenue declines below a specified guarantee level. The PLC program provides income support payments when the effective price for a covered commodity falls below its effective reference price.&nbsp;</p>

tv_txt: I 118th CONGRESS 1st Session H. R. 5101 IN THE HOUSE OF REPRESENTATIVES August 1, 2023 Mr. Davis of North Carolina introduced the following bill; which was referred to the Committee on Agriculture A BILL To increase the reference prices for certain commodities, and for other purposes.

1. Short title This Act may be cited as the Agricultural Commodities Price Enhancement Act of 2023 . 2. Reference price increases for wheat, corn, soybeans, peanuts, and seed cotton Section 1111(19) is amended of the Agricultural Act of 2014 ( 7 U.S.C. 9011(19) ) is amended— (1) in subparagraph (A), by striking $5.50 per bushel and inserting $6.05 per bushel ; (2) in subparagraph (B), by striking $3.70 per bushel and inserting $4.63 per bushel ; (3) in subparagraph (H), by striking $8.40 per bushel and inserting $9.66 per bushel ; (4) in subparagraph (J), by striking $535.00 per ton and inserting $588.50 per ton ; and (5) in subparagraph (O), by striking $0.367 per pound and inserting $0.45 per pound .