Peanut Reform Act

[AI summary unavailable — showing source text] Peanut Reform Act - Title I: Peanuts - Directs the Secretary of Agriculture, under the Agricultural Adjustment Act of 1938, to establish for the 1976 through 1980 peanut crops a national acreage allotment which will produce an amount of peanuts equal to the estimated domestic edible and related consumption less imports. States that the national acreage allotment shall not be less than 1,000,000 acres for the 1976 and 1977 crops; 660,000 acres for the 1978 crop; 330,000 for the 1979 crop; and zero acres for the 1980 crop. States that the national acreage allotment shall be allocated to the States and farms on the basis of peanut allotments established for the preceding crop. Allows a maximum of one percent of such allotment to be reserved for new peanut farms meeting specified criteria. Directs that if the total acreage used on a farm for peanuts is less than 90 percent of the peanut allotment, then the allotment for the succeeding crop shall be reduced proportionately, to a maximum of 20 percent of the farm allotment for the preceding crop. Includes as acreage planted for peanuts farm land which was not used for peanut growing because of drought, flood, or other condition beyond th…