Vote to adopt an amendment to HR 1947 that amends federal commodity support programs for sugar.
Reduces the loan rates available to processors of domestically grown sugarcane to $0.18 per pound of raw cane sugar for each crop year from 2014 to 2018 (Sec. 1301).
Requires the Secretary of Agriculture to establish marketing allotments for sugar at a level appropriate to maintain “adequate” domestic supplies of sugar at “reasonable” prices for each crop year, whereas existing law requires marketing allotments to be no less than 85 percent of the estimated quantity of sugar for domestic human consumption for each crop year (Sec. 1302).
Requires the Secretary to adjust tariff-rate quotas for raw cane sugar and refined sugar so that the ratio of sugar stocks to total sugar use is approximately 15.5 percent, provided that this allows maintenance of domestic supply at adequate levels and reasonable prices (Sec. 359k).
Authorizes the Secretary to establish a different ratio of sugar stocks to total sugar use if necessary in order to prevent the following situations (Sec. 359k):
An unreasonably high price; or
A forfeiture of sugar pledged as collateral for an available loan.
Requires the Secretary to publicly announce any establishment of a target for the ratio of ending stocks to total use (Sec. 359k).
Requires the Secretary to consider the impact of tariff-rate quotas on consumers, workers, businesses, and agricultural producers (Sec. 359k).
Requires the Secretary to promote regulations that authorize any country that has been allocated a share of the quotas to temporarily volunteer to transfer all or part of the share to any other country that has also been allocated a share of the quotas (Sec. 359k).
Repeals the provisions in the Farm Security and Rural Investment Act of 2002 that authorize the Secretary to purchase “eligible commodities” and sell these commodities to bioenergy producers (Sec. 1303).
Defines “eligible commodities” as forms of raw, refined, or in-process sugar that are eligible to be sold in the United States for human consumption.