Commodity Set-Aside Act

[AI summary unavailable — showing source text] Commodity Set-Aside Act - States that, for the purpose of providing a reserve of basic food commodities for use for human consumption and seed purposes whenever there is a shortage of such commodities, the Commodity Credit Corporation shall obtain specified amounts of wheat, feed grains, and nonfat dry milk solids for the purpose of establishing a set-aside for each such commodity. States that the Commodity Credit Corporation may use amounts of any other agricultural commodity as a substitute for any commodity listed above if the amount of the commodity being used as a substitute is nutritionally equivalent to the amount of the commodity for which it is being substituted. Provides that the set-aside for each such commodity shall be completed by the end of the 1979 crop year, except that the set-aside of nonfat dry milk solids shall be completed by January 1, 1979. Authorizes the President to release amounts of the set-aside when it is determined that such set-aside will exceed the aggregate of domestic production and imports at the close of any crop year. Provides that the President may release any amount from any set-aside: (1) for transfer to the national stockpile in time of nat…