Business / Agriculture / Commodity Credit Corporation (CCC): A wholly owned government corporation created in 1933 to stabilize, support, and protect farm income and prices (federally chartered by the Commodity Credit Corporation Charter Act of 1948 (P.L. 80-806, June 29, 1948)). The CCC, which has no staff, is essentially a financing institution for USDA’s farm price and income support commodity programs, and agricultural export subsidies. It is authorized to buy, sell, lend, make payments and engage in other activities for the purpose of increasing production, stabilizing prices, assuring adequate supplies, and facilitating the efficient marketing of agricultural commodities. The FAIR Act of 1996 expanded the CCC mandate to include funding for several conservation programs (including the Conservation Reserve Program) and made conservation one of the purposes of the CCC. The programs funded through CCC are administered by employees of the Farm Service Agency. The CCC has the authority to borrow up to $30 billion from the U.S. Treasury to carry out its obligations. Net losses on financial operations subsequently are restored through the congressional appropriations process.
Credit Verb Synonyms: ascribe, acknowledge, attribute, assign, impute
Credit Noun Synonyms: belief, faith, trust, credence
Business / Agriculture / Commodity Distribution Program: This program supplies authority for the Secretary of Agriculture to use agricultural surplus removal (Section 32) and Commodity Credit Corporation (CCC) funds to buy commodities for child and elderly MORE
Business / Agriculture / Commodity Certificates: Payments issued by the Commodity Credit Corporation (CCC) in lieu of cash payments to participants in farm subsidy or agricultural export programs. Holders of certificates are permitted to exchange th MORE