No Net Cost Tobacco Program Act of 1982

[AI summary unavailable — showing source text] No Net Cost Tobacco Program Act of 1982 - Title I: Modification of Tobacco Price Support Program - Amends the Agricultural Act of 1949 to authorize the Secretary of Agriculture to carry out tobacco price support through Commodity Credit Corporation loan agreements with producer-owned cooperative marketing associations which will in turn make loans to producers. Requires each association to establish a separate capital account, to be known as a No Net Cost Tobacco Fund (Fund), consisting of contributions from producers of quota tobacco and, for associations handling Flue-cured tobacco, from persons who lease allotments and quotas to others. Requires such contributions for price support eligibility. Authorizes an association to set contribution rates subject to the Secretary's approval. Prohibits the Secretary from approving a contribution rate not high enough to reimburse the Corporation for any net loan losses that the association may incur. Permits an association to invest Fund moneys and to issue capital stock or certifications to investors. Requires that any earnings on Fund investments become a part of the Fund. States that net gains from the sale of an association's loan colla…