(a) Initial reviewThe Commission shall conduct a comprehensive review of changes in the condition of production agriculture in the United States since April 4, 1996, and the extent to which the changes are the result of this chapter and the amendments made by this chapter. The review shall include the following:(1) An assessment of the initial success of production flexibility contracts in supporting the economic viability of farming in the United States.
(2) An assessment of economic risks to farms delineated by size of farm operation (such as small, medium, or large farms) and region of production.
(3) An assessment of the food security situation in the United States in the areas of trade, consumer prices, international competitiveness of United States production agriculture, food supplies, and humanitarian relief.
(4) An assessment of the changes in farmland values and agricultural producer incomes since April 4, 1996.
(5) An assessment of the extent to which regulatory relief for agricultural producers has been enacted and implemented, including the application of cost/benefit principles in the issuance of agricultural regulations.
(6) An assessment of the extent to which tax relief for agricultural producers has been enacted in the form of capital gains tax reductions, estate tax exemptions, and mechanisms to average tax loads over high- and low-income years.
(7) An assessment of the effect of any Federal Government interference in agricultural export markets, such as the imposition of trade embargoes, and the degree of implementation and success of international trade agreements and United States export programs.
(8) An assessment of the likely effect of the sale, lease, or transfer of farm poundage quota for peanuts across State lines.
(b) Subsequent reviewThe Commission shall conduct a comprehensive review of the future of production agriculture in the United States and the appropriate role of the Federal Government in support of production agriculture. The review shall include the following:(1) An assessment of changes in the condition of production agriculture in the United States since the initial review conducted under subsection (a).
(2) Identification of the appropriate future relationship of the Federal Government with production agriculture after 2002.
(3) An assessment of the personnel and infrastructure requirements of the Department of Agriculture necessary to support the future relationship of the Federal Government with production agriculture.
(4) An assessment of economic risks to farms delineated by size of farm operation (such as small, medium, or large farms) and region of production.
(c) RecommendationsIn carrying out the subsequent review under subsection (b), the Commission shall develop specific recommendations for legislation to achieve the appropriate future relationship of the Federal Government with production agriculture identified under subsection (a)(2).