Commodity Credit Corporation (CCC)
A wholly owned government corporation created in 1933 to stabilize, support, and protect farm income and prices (federally chartered by the CCC Charter Act of 1948 (P.L. 80-806)). The CCC, which has no staff, is essentially a financing institution for USDA's farm price and income support commodity programs, and agricultural export subsidies. It is authorized to buy, sell, lend, make payments and engage in other activities for the purpose of increasing production, stabilizing prices, assuring adequate supplies, and facilitating the efficient marketing of agricultural commodities. The 1996 farm bill (P.L. 104-127) expanded the CCC mandate to include funding for several conservation programs (including the Conservation Reserve Program) and made conservation one of the purposes of the CCC. The programs funded through CCC are administered by employees of the Farm Service Agency. The CCC has the authority to borrow up to $30 billion from the U.S. Treasury to carry out its obligations. Net losses from its operations subsequently are restored through the congressional appropriations process.