Economic Recovery Act of 1980

[AI summary unavailable — showing source text] Economic Recovery Act of 1980 - Title I: Production and Sale of Agricultural Commodities - Directs the National Board of Agricultural Governors (created by Title II of this Act) to establish, on a monthly basis for each agricultural commodity, a parity price and a comprehensive cost of production price, taking into account for the latter: (1) machinery ownership costs; (2) farm overhead costs; (3) a value for the management services contributed by the producer; (4) labor costs; and (5) a value for the land utilized. Directs the Board to determine an established price for each agricultural commodity equal to such parity price or to such comprehensive cost of production price, whichever is less. Directs the Board to establish for each commodity a national production goal based on estimated domestic and export requirements, and levels of production consistent with established agricultural conservation or soil management programs. Directs the Board to allocate allotments or marketing quotas based upon the production history of each farm during three out of the five preceding calendar years. Limits such allocations to individual farmers and farmer-owned or controlled cooperatives and co…