SECTION 1. ELIMINATION OF QUOTA AND PRICE SUPPORT PROGRAMS FOR PEANUTS.

    (a) In General.--Notwithstanding any other provision of law, the 
Secretary of Agriculture and the Commodity Credit Corporation may not 
provide loans, purchases, payments, or other operations or take any 
other action to support the price, or adjust or control the production, 
of peanuts by using the funds of the Commodity Credit Corporation or 
under the authority of any law.
    (b) Marketing Quotas.--
            (1) In general.--Part VI of subtitle B of title III of the 
        Agricultural Adjustment Act of 1938 (7 U.S.C. 1357 et seq.) is 
        repealed.
            (2) Conforming amendments.--
                    (A) Definitions.--Section 301(b) of the Act (7 
                U.S.C. 1301(b)) is amended--
                            (i) in paragraph (3)(A), by striking 
                        ``corn, rice, and peanuts'' and inserting 
                        ``corn and rice'';
                            (ii) in paragraph (6), by striking 
                        subparagraph (C);
                            (iii) in paragraph (10)(A)--
                                    (I) by striking ``wheat, and 
                                peanuts'' and inserting ``and wheat''; 
                                and
                                    (II) by striking ``; 20 per centum 
                                in the case of wheat; and 15 per centum 
                                in the case of peanuts'' and inserting 
                                ``; and 20 percent in the case of 
                                wheat'';
                            (iv) in paragraph (13)--
                                    (I) by striking subparagraphs (B) 
                                and (C); and
                                    (II) in subparagraph (G), by 
                                striking ``or peanuts'' both places it 
                                appears; and
                            (v) in paragraph (16)(A), by striking 
                        ``rice, and peanuts'' and inserting ``and 
                        rice''.
                    (B) Administrative provisions.--Section 361 of the 
                Act (7 U.S.C. 1361) is amended by striking 
                ``peanuts,''.
                    (C) Adjustment of quotas.--Section 371 of the Act 
                (7 U.S.C. 1371) is amended--
                            (i) in the first sentence of subsection 
                        (a), by striking ``peanuts,''; and
                            (ii) in the first sentence of subsection 
                        (b), by striking ``peanuts''.
                    (D) Reports and records.--Section 373 of the Act (7 
                U.S.C. 1373) is amended--
                            (i) in subsection (a), by striking the 
                        first sentence and inserting the following new 
                        sentence: ``This subsection shall apply to 
                        warehousemen, processors, and common carriers 
                        of corn, wheat, cotton, rice, or tobacco, and 
                        all ginners of cotton, all persons engaged in 
                        the business of purchasing corn, wheat, cotton, 
                        rice, or tobacco from producers, and all 
                        persons engaged in the business of redrying, 
                        prizing, or stemming tobacco for producers.''; 
                        and
                            (ii) in subsection (b), by striking 
                        ``peanuts,''.
                    (E) Regulations.--Section 375(a) of the Act (7 
                U.S.C. 1375(a)) is amended by striking ``peanuts,''.
                    (F) Eminent domain.--The first sentence of section 
                378(c) of the Act (7 U.S.C. 1378(c)) is amended by 
                striking ``cotton, tobacco, and peanuts,'' and 
                inserting ``cotton and tobacco,''.
    (c) Price Support Program.--
            (1) Permanent price support.--Section 101(b) of the 
        Agricultural Act of 1949 (7 U.S.C. 1441 et seq.) is amended by 
        striking ``and peanuts''.
            (2) Temporary price support.--Sections 108, 108A, and 108B 
        of the Act (7 U.S.C. 1445c through 1445c-3) are repealed.
            (3) Conforming amendments.--
                    (A) Section 301 of the Act (7 U.S.C. 1447) is 
                amended by inserting after ``nonbasic agricultural 
                commodity'' the following: ``(other than peanuts)''.
                    (B) Section 408(c) of the Act (7 U.S.C. 1428(c)) is 
                amended by striking ``peanuts,''.
                    (C) Section 5(a) of the Commodity Credit 
                Corporation Charter Act (15 U.S.C. 714c(a)) is amended 
                by inserting after ``agricultural commodities'' the 
                following: ``(other than peanuts)''.
    (c) Liability.--A provision of this section or an amendment made by 
this section shall not affect the liability of any person under any 
provision of law as in effect before the application of the provision 
of this section or the amendment in accordance with subsection (d).
    (d) Application.--This section and the amendments made by this 
section shall apply beginning with the 1996 crop of peanuts.
Output: Amends the Agricultural Adjustment Act of 1938 and the Agricultural Act of 1949 to repeal respective peanut quota and price support programs.