P.L. 75-430 (February 16, 1938) was enacted to replace farm subsidy policies found unworkable in the AAA legislation of 1933. The 1938 Farm Bill was the first to make price support mandatory for corn, cotton, and wheat to help maintain a sufficient supply in low production periods, along with marketing quotas to keep supply in line with market demand. It established permissive supports for butter, dates, figs, hops, turpentine, rosin, pecans, prunes, raisins, barley, rye, grain sorghum, wool, winter cover-crop seeds, mohair, peanuts, and tobacco for the 1938-40 period. Title V of the Act established the Federal Crop Insurance Corporation. The 1938 Farm Bill is considered part of permanent legislation for commodity programs and farm income support (along with the Commodity Credit Corporation Charter Act and the Agricultural Act of 1949). Provisions of the law are generally superseded by more current legislation.

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