Food Stamp Act

[AI summary unavailable — showing source text] Food Stamp Act - Repeals the Food Stamp Act of 1964, as amended, and authorizes the Secretary of Agriculture to formulate and administer a new food stamp program under which, at the request of the State agency which administers federally aided public assistance programs, eligible households within the State shall be provided with an opportunity to obtain a nutritionally adequate diet through the issuance to them of a coupon allotment. Stipulates that coupons so received by such households shall be used only to purchase food from retail food stores which have been approved for participation in the food stamp program. Prohibits the distribution of federally donated foods in areas where a food stamp program is in operation except where such distribution is required to achieve an orderly transition to a food stamp program on an Indian reservation, or where distribution is made to meet disaster relief needs. Requires specified exclusions and deductions from the gross income of a household in the determination of its eligibility. Allows a household to possess up to $3,000 in liquid and nonliquid assets. Specifies allowable exemptions from such assets, including home and lot, one licensed…