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Agricultural Commodities Price Enhancement Act of 2023

12/15/2023, 4:01 PM

Summary of Bill HR 5101

The "Agricultural Commodities Price Enhancement Act of 2023," designated as H.R. 5101 in the 118th Congress and introduced on August 1, 2023, aims to enhance the pricing mechanisms related to agricultural commodities. The bill likely addresses issues such as price stability, market transparency, or support for farmers and consumers in the agricultural sector. For specific provisions, directives, or actions proposed in the bill, further details from the bill's text would be needed.

Congressional Summary of HR 5101

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. 

Current Status of Bill HR 5101

Bill HR 5101 is currently in the status of Bill Introduced since August 1, 2023. Bill HR 5101 was introduced during Congress 118 and was introduced to the House on August 1, 2023.  Bill HR 5101's most recent activity was Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit. as of September 19, 2023

Bipartisan Support of Bill HR 5101

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 5101

Primary Policy Focus

Agriculture and Food

Comments

Sponsors and Cosponsors of HR 5101

Donald G. Davis
Donald G. Davis
North CarolinaDemocrat

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