Crop Year 2001 Agricultural Economic Assistance Act

[AI summary unavailable — showing source text] Crop Year 2001 Agricultural Economic Assistance Act - Directs the Secretary of Agriculture to provide a market loss assistance payment to farm owners and producers who are eligible for a final FY 2001production flexibility contract payment. Directs the Secretary to make specified payments to: (1) oilseed producers eligible for marketing assistance loans; (2) peanut producers; (3) wool and mohair producers; (4) tobacco producers; and (5) wheat, barley, or oat producers eligible for loan deficiency payments who elect to use such acreage for livestock grazing and agree to forgo any other harvesting of such crops on such acreage. Directs the Secretary to make specified purchases of surplus specialty crops, and to provide States with related transport cost assistance. Amends the Agricultural Market Transition Act to: (1) eliminate processor marketing assessments for the 2001 sugar beet and sugarcane crops; (2) extend loan deficiency payment producer eligibility; (3) extend the milk price support program; and (4) eliminate the dairy processor recourse loan program. Establishes a specified individual limitation on 2001 loan deficiency payments and marketing loan gains. Directs the Secreta…