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TeachMeFinance.com - explain Food and Agriculture Act of 1977 Food and Agriculture Act of 1977 The term 'Food and Agriculture Act of 1977' as it applies to the area of agriculture can be defined as 'P.L. 95-113 (September 9, 1977) was an omnibus farm bill. It increased price and income supports and established a farmer-owned reserve for grain. It also established a new two-tiered pricing program for peanuts. Under the peanut program, producers were given an acreage allotment on which a poundage quota was set. Growers could produce in excess of their quota, within their acreage allotment, but would receive the higher of the two price-support levels only for the quota amount. Peanuts in excess of the quota are referred to as 'additionals.' Title XIII was designated the Food Stamp Act of 1977 and replaced the original 1964 Act with a new law making significant changes, including the elimination of the purchase requirement and simplification of eligibility requirements. Title XIV was designated the National Agricultural Research, Extension, and Teaching Policy Act and made USDA the leading federal agency for agricultural research, extension, and teaching programs. It also consolidated the funding for these programs'. Previous 5 Terms: following wind FONSI Food additives Food Aid Consultative Group Food and Agricultural Act of 1965 Next 5 Terms: Food and Agriculture Councils (FACs) Food and Agriculture Organization of the United Nations (FAO) Food and Drug Administration (FDA) Food and fiber system Food and Nutrition Service (FNS) About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.