International Sugar Stabilization Act of 1979

[AI summary unavailable — showing source text] International Sugar Stabilization Act of 1979 - Title I: International Sugar Agreement, 1977 - Authorizes the President to implement the International Sugar Agreement by (1) regulating the entry of sugar from any country not a member of the International Sugar Organization and (2) requiring records and reports concerning the entry of sugar. Establishes criminal penalties for violating such regulations. Requires the President to submit to Congress an annual report on the Agreement. Title II: Import Restrictions on Sugar - Establishes 15.25 cents per pound, raw value, as the price objective for domestic sugar during the 1978 sugar supply year. Sets forth the formula for determining the price objective for succeeding years. Requires the Secretary of Agriculture to monitor the average daily price of sugar imports. Directs the Secretary to pay up to one-half cent per pound, raw value, to domestic producers and processors of sugar beets and sugarcane to assure a return of 15.75 cents per pound, raw value, during the 1978 sugar supply year (to be readjusted in succeeding years as the price objective is readjusted). Imposes a special import duty in the amount by which the average daily pri…