S.1422: A bill to direct the Secretary of Agriculture to establish a program to provide to agricultural operators and producers a reserve to assist in the stabilization of farm income during low-revenue years, to assist operators and producers to invest in value-added farms, to promote higher levels of environmental stewardship, and for other purposes.

A bill to direct the Secretary of Agriculture to establish a program to provide to agricultural operators and producers a reserve to assist in the stabilization of farm income during low-revenue years, to assist operators and producers to invest in value-added farms, to promote higher levels of environmental stewardship, and for other purposes. 5/17/2007--Introduced. Farm Risk Management Act for the 21st Century - Directs the Secretary of Agriculture to contract with eligible operators and producers (risk management account contracts) to: (1) provide a reserve to assist in the stabilization of farm income during low-revenue years; (2) assist operators and producers to invest in value-added farms; and (3) recognize high levels of environmental stewardship. Sets forth risk management account contract provisions, including: (1) administration; (2) direct payments; (3) stewardship payments; (4) account transfers; and (5) tax treatment. Extends counter-cyclical payments.[...]

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