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HR 5101 118th Congress House Agriculture and Food Agricultural prices, subsidies, credit Grain

Agricultural Commodities Price Enhancement Act of 2023

Introduced: August 1, 2023 Introduced by: Davis, Donald G. Democratic · North Carolina See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 19, 2023
Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.
Aug 1, 2023
Referred to the House Committee on Agriculture.
Aug 1, 2023
Introduced in House
 Plain-English summary Congressional Research Service

Agricultural Commodities Price Enhancement Act of 2023

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.

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. 

What's happening now September 19, 2023

Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.

 Committees of jurisdiction 2