WASHINGTON (Reuters) - Congress could enact the new $285 billion U.S. farm law over a presidential veto by late May, ending 15 months of work to overhaul U.S. farm policy, the Senate Agriculture Committee said on Friday.

The House and Senate are expected to pass the five-year bill next week. A veto, promised by the Bush administration, would follow in a few days, allowing time for Congress to override the veto before the Memorial Day holiday.

Agriculture chairman Tom Harkin, Iowa Democrat, outlined the likely sequence during a briefing. He said urban lawmakers would support the bill because it increases food stamp benefits and would expand federal donations to food pantries.

The bill also puts more money into land stewardship programs, promotes specialty crops and encourages biofuel development. It would deny some crop subsidies to the wealthiest Americans, perhaps a few thousand by one estimate.

To succeed, both chambers must pass an override by a two-thirds majority.

"Getting a two-thirds vote any time is challenging," said Sen. Kent Conrad, North Dakota Democrat, referring to the House. The House passed its farm bill, 231-191, last July. The Senate passed its version, 79-14, in December.

Agriculture Secretary Ed Schafer said the administration will fight to uphold the veto. "I think it is an uphill struggle," Schafer said with Democrats in control of Congress. "We plan on sustaining a veto."

The Democratic and Republican leaders of the House Agriculture Committee say they aim for a veto-proof majority in next week's vote as a show of support for the bill.

Besides voting on the final version of the farm bill, Congress will have to pass a stopgap bill next week to keep agricultural programs running after May 16.

Harkin said it would be a one-week extension and flatly rejected administration suggestions to renew the 2002 farm law for two more years.

If President George W. Bush vetoes the stopgap bill as leverage to force a two-year extension, "it looks like we'll be back to the 1949 act," said Harkin. The "permanent" 1949 farm law would double or triple farm subsidy rates and allows land controls, the opposite of free-market U.S. farm policy.

Agriculture Department officials say there would be no impact before July 1. Dairy would be affected immediately by the higher price supports of the 1949 law but it would take several weeks to write rules to carry out the law.

(Reporting by Charles Abbott; Editing by Marguerita Choy)

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