Understanding the Total Value of Additional Commodities in Legal Terms
Definition & meaning
The term "total value of additional commodities" refers to the complete cost incurred for extra commodities provided under specific agricultural programs. This includes not only the purchase price of these commodities but also any distribution and processing costs that the Secretary of Agriculture pays. Understanding this term is essential for those involved in agricultural assistance programs, as it impacts budgeting and resource allocation.
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This term is primarily used in the context of agricultural law, specifically relating to emergency food assistance programs. It plays a significant role in determining funding and resource distribution for various agricultural initiatives. Users may encounter this term when dealing with forms related to federal or state food assistance programs, which can often be managed using templates available through US Legal Forms.
Key Legal Elements
Real-World Examples
Here are a couple of examples of abatement:
For instance, if the Secretary of Agriculture allocates funds to purchase additional food supplies for a disaster relief program, the total value of those commodities would include the purchase price of the food, as well as any costs related to transporting and distributing that food to affected areas. (hypothetical example)
Relevant Laws & Statutes
The primary statute governing this term is found in 7 USCS § 7501, which outlines the definitions and responsibilities related to emergency food assistance. This law provides the framework for how additional commodities are valued and handled in federal agricultural programs.
Comparison with Related Terms
Term
Definition
Difference
Commodity value
The market price of a commodity
Does not include processing or distribution costs
Emergency food assistance
Programs providing food aid in emergencies
Focuses on the delivery of food rather than its total cost
Common Misunderstandings
What to Do If This Term Applies to You
If you are involved in agricultural assistance programs and need to understand the total value of additional commodities, consider reviewing the relevant statutes and guidelines. You may also find it helpful to use legal form templates available through US Legal Forms to assist with compliance and documentation. If your situation is complex, consulting a legal professional is advisable.
Quick Facts
Typical fees: Varies based on program and location
Jurisdiction: Federal and state agricultural programs
Possible penalties: Non-compliance with funding regulations
