Lower Food and Fuel Costs Act

This bill addresses provisions related to agriculture, food, and fuel, including by providing funds for nutrient management, precision agriculture, and biofuel infrastructure.

Specifically, the bill provides funding for the Department of Agriculture (USDA) to (1) assist agricultural producers with the costs of crop nutrient use or adopting precision agriculture practices, and (2) provide grants to eligible entities (e.g., fueling and distribution facilities) for biofuel infrastructure.

The bill establishes within USDA the Office of the Special Investigator for Competition Matters, which must investigate and prosecute violations of the Packers and Stockyards Act of 1921 by packers and live poultry dealers.

Additionally, USDA must (1) establish an agriculture and food supply chain task force, and (2) provide assistance to address fertilizer shortages and reduce dependency on foreign sources for fertilizer.

The bill allows USDA to make loans and grants for livestock and poultry processing.

Further, the bill incorporates support for precision agriculture into various USDA programs.

USDA's Agricultural Marketing Service must enter into certain cooperative agreements for establishing supply chain regional resource centers to support small- and medium-sized producers of agricultural products and agricultural businesses.

The bill also applies the Reid vapor pressure (a measure of gasoline's volatility) requirements that are applicable to gasoline blended with 10% ethanol (E10) to gasoline blended with more than 10% ethanol. Thus, the waiver given to E10 gasoline, which allows an increase in the Reid Vapor Pressure volatility, is extended to gasoline blended with more than 10% ethanol.