A bill to extend and amend the Food and Agriculture Act of 1977 for the purpose of assuring adequate supplies of upland cotton and its products to meet food and fiber needs of consumers at reasonable prices.

[AI summary unavailable — showing source text] Makes price support, marketing quota, base acreage allotment, and related provisions of the Agricultural Adjustment Act of 1938 inapplicable to the 1982 through 1985 crops of upland cotton. Amends the Agricultural Act of 1949 to: (1) extend the nonrecourse loan program through 1985; (2) revise the standard for determining cotton loan levels (from Strict Middling one and one-sixteenth inch to Middling one and three-thirty seconds inch cotton C.I.F. Northern Europe); and (3) raise the minimum loan level from 48 cents to 55 cents per pound. Declares that any upland cotton imported during a special import quota period shall be duty-free. Extends the disaster payment program for cotton through 1985. Denies eligibility for such payments to any person in a county in which crop insurance is generally offered. Changes the deadline for announcement of the national program acreage from December 15 to November 1. Authorizes the Secretary of Agriculture to limit, on a uniform basis to all cotton-producing farms, the acreage planted to cotton if the Secretary determines that the total supply will otherwise likely be excessive. Directs the Secretary to require acreage set-asides only if such acre…