Nitrite Indemnification Act

[AI summary unavailable — showing source text] Nitrite Indemnification Act - Directs the Secretary of Agriculture to make indemnity payments to livestock and poultry producers in any case in which: (1) any significant conclusion, announced after August 1, 1978, of federally sponsored research on the safety of using nitrites in cured livestock and poultry products is shown to be inaccurate; and (2) there has been, during the 120 days following the announcement, a fall in the average price per pound received by all producers for livestock and poultry sales from the level of such price during the 120-day period preceding the announcement. Sets forth a formula for the determination of any indemnity payment. Limits the maximum annual payment to any individual to $50,000.…