,,ii #aae? ,,congress #a/ ,session ,s4 #abei ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,may #be1 #bjag ,mr4 ,?une introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,agriculture1 ,nutrition1 & ,=e/ry ,a ,,bill ,to improve & ext5d agricultural commodity programs1 & = o!r purposes4 #a4 ,%ort title2 table ( cont5ts 7a7 ,9 g5]al ,?is ,act may be cit$ z ! ,commodity ,program ,improvem5t ,act ( #bjag4 7b7 ,table ( cont5ts ,! table ( cont5ts = ?is ,act is z foll[s3 ,sec4 #a4 ,%ort title2 table ( cont5ts4 ,sec4 #b4 ,def9itions4 ,,title ,i--,commodity ,policy ,sec4 #aja4 ,base acres4 ,sec4 #ajb4 ,paym5t yields4 ,sec4 #ajc4 ,paym5t acres4 ,sec4 #ajd4 ,produc] election4 ,sec4 #aje4 ,price loss cov]age4 ,sec4 #ajf4 ,agriculture risk cov]age4 ,sec4 #ajg4 ,produc] agreem5ts4 ,,title ,,ii--,m>ket+ ,loans ,sec4 #bja4 ,availability ( nonrec\rse m>ket+ assi/ance loans = loan commodities4 ,sec4 #bjb4 ,loan rates = nonrec\rse m>ket+ assi/ance loans4 ,sec4 #bjc4 ,t]m ( loans4 ,sec4 #bjd4 ,repaym5t ( loans4 ,sec4 #bje4 ,loan defici5cy paym5ts4 ,sec4 #bjf4 ,paym5ts 9 lieu ( loan defici5cy paym5ts = graz$ acreage4 ,sec4 #bjg4 ,special m>ket+ loan provisions = upl& cotton4 ,sec4 #bjh4 ,special competitive provisions = extra long /aple cotton4 ,sec4 #bji4 ,availability ( rec\rse loans = high moi/ure fe$ gra9s & se$ cotton4 ,sec4 #baj4 ,adju/m5ts ( loans4 ,,title ,,iii--,adm9i/ration ,sec4 #cja4 ,adm9i/ration g5]ally4 ,sec4 #cjb4 ,susp5sion ( p]man5t price support au?ority4 ,sec4 #cjc4 ,con=m+ am5dm5ts4 #b4 ,def9itions ,9 ?is ,act3 7#a7 ,actual crop rev5ue ,! t]m actual crop rev5ue1 ) respect to a cov]$ commodity = a crop ye>1 means ! am\nt det]m9$ by ! ,secret>y "u section #ajf7;b74 7#b7 ,agriculture risk cov]age ,! t]m agriculture risk cov]age means cov]age provid$ "u section #ajf4 7#c7 ,agriculture risk cov]age gu>antee ,! t]m agriculture risk cov]age gu>antee1 ) respect to a cov]$ commodity = a crop ye>1 means ! am\nt det]m9$ by ! ,secret>y "u section #ajf7;c74 7#d7 ,base acres ,! t]m base acres means ! numb] ( acres on a f>m designat$ z base acres pursuant to "p ,,ii ( subtitle ,a ( title ,i ( ! ,agricultural ,act ( #bjad 7#g ,u4,s4,c4 #ijaa et seq47 = ! #bjah crop ye>4 7#e7 ,c\nty cov]age ,! t]m c\nty cov]age means agriculture risk cov]age select$ "u section #ajd7;b77#a7 to be obta9$ at ! c\nty level4 7#f7 ,cov]$ commodity ,! t]m cov]$ commodity means :eat1 oats1 & b>ley 7includ+ :eat1 oats1 & b>ley us$ = hay+ & graz+71 corn1 gra9 sorghum1 long gra9 rice1 m$ium gra9 rice1 pulse crops1 soybeans1 o!r oilse$s1 & peanuts4 7#g7 ,effective price ,! t]m effective price1 ) respect to a cov]$ commodity = a crop ye>1 means ! price calculat$ by ! ,secret>y "u section #aje7;b7 to det]m9e :e!r price loss cov]age paym5ts are requir$ to be provid$ = t crop ye>4 7#h7 ,extra long /aple cotton ,! t]m extra long /aple cotton means cotton t-- 7,a7 is produc$ f pure /ra9 v>ieties ( ! ,b>bad5se species or any hybrid ( ! species1 or o!r simil> types ( extra long /aple cotton1 designat$ by ! ,secret>y1 hav+ *>act]i/ics ne$$ = v>i\s end uses = :i* ,unit$ ,/ates upl& cotton is n suitable & gr[n 9 irrigat$ cotton-gr[+ regions ( ! ,unit$ ,/ates designat$ by ! ,secret>y or o!r areas designat$ by ! ,secret>y z suitable = ! production ( ! v>ieties or types2 & 7,b7 is g9n$ on a roll]-type g9 or1 if au?oriz$ by ! ,secret>y1 g9n$ on ano!r type g9 = exp]im5tal purposes4 7#i7 ,individual cov]age ,! t]m individual cov]age means agriculture risk cov]age select$ "u section #ajd7;b77#b7 to be obta9$ at ! f>m level4 7#aj7 ,m$ium gra9 rice ,! t]m m$ium gra9 rice includes %ort gra9 rice & temp]ate japonica rice4 7#aa7 ,o!r oilse$ ,! t]m o!r oilse$ means a crop ( sunfl[] se$1 rapese$1 canola1 saffl[]1 flaxse$1 mu/>d se$1 crambe1 sesame se$1 or any oilse$ designat$ by ! ,secret>y4 7#ab7 ,paym5t acres ,! t]m paym5t acres1 ) respect to ! provision ( price loss cov]age paym5ts & agriculture risk cov]age paym5ts1 means ! numb] ( acres det]m9$ = a f>m "u section #ajc4 7#ac7 ,paym5t yield ,! t]m paym5t yield1 = a f>m = a cov]$ commodity1 means-- 7,a7 ! yield us$ to make paym5ts pursuant to section #aajd or #acjd ( ! ,food1 ,cons]vation1 & ,en]gy ,act ( #bjjh 7#g ,u4,s4,c4 #hgad1 #hged71 z 9 effect on ,septemb] #cj1 #bjac2 or 7,b7 ! yield e/abli%$ "u section #ajb4 7#ad7 ,price loss cov]age ,! t]m price loss cov]age means cov]age provid$ "u section #aje4 7#ae7 ,produc] 7,a7 ,9 g5]al ,! t]m produc] means an own]1 op]ator1 l&lord1 t5ant1 or %>ecropp] t %>es 9 ! risk ( produc+ a crop & is entitl$ to %>e 9 ! crop available = m>ket+ f ! f>m1 or w\ld h %>$ _h ! crop be5 produc$4 7,b7 ,hybrid se$ ,9 det]m9+ :e!r a gr[] ( hybrid se$ is a produc]1 ! ,secret>y %all-- 7i7 n take into consid]ation ! exi/5ce ( a hybrid se$ contract2 & 7ii7 ensure t program requirem5ts d n adv]sely affect ! ability ( ! gr[] to receive a paym5t "u ?is ,act4 7#af7 ,pulse crop ,! t]m pulse crop means dry peas1 l5tils1 small *ickpeas1 & l>ge *ickpeas4 7#ag7 ,ref]5ce price ,! t]m ref]5ce price1 ) respect to a cov]$ commodity = a crop ye>1 means ! foll[+3 7,a7 ,= :eat1 #e4ej p] bu%el4 7,b7 ,= corn1 #c4gj p] bu%el4 7,c7 ,= gra9 sorghum1 #c4ie p] bu%el4 7,d7 ,= b>ley1 #d4ie p] bu%el4 7,e7 ,= oats1 #b4dj p] bu%el4 7,f7 ,= long gra9 rice1 #ad4jj p] hundr$weight4 7,g7 ,= m$ium gra9 rice1 #ad4jj p] hundr$weight4 7,h7 ,= soybeans1 #h4dj p] bu%el4 7,i7 ,= o!r oilse$s1 #bj4ae p] hundr$weight4 7,j7 ,= peanuts1 #ece4jj p] ton4 7,k7 ,= dry peas1 #aa4jj p] hundr$weight4 7,l7 ,= l5tils1 #ai4ig p] hundr$weight4 7,m7 ,= small *ickpeas1 #ai4jd p] hundr$weight4 7,n7 ,= l>ge *ickpeas1 #ba4ed p] hundr$weight4 7#ah7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ,agriculture4 7#ai7 ,/ate ,! t]m ,/ate means-- 7,a7 a ,/ate2 7,b7 ! ,di/rict ( ,columbia2 7,c7 ! ,commonweal? ( ,pu]to ,rico2 & 7,d7 any o!r t]ritory or possession ( ! ,unit$ ,/ates4 7#bj7 ,temp]ate japonica rice ,! t]m temp]ate japonica rice means rice t is gr[n 9 high altitudes or temp]ate regions ( high latitudes ) cool] climate conditions1 9 ! ,we/]n ,unit$ ,/ates1 z det]m9$ by ! ,secret>y1 = ! purpose (-- 7,a7 ! update ( base acres "u section #aja2 7,b7 ! e/abli%m5t ( a ref]5ce price 7z requir$ "u section #aje7;g77 & an effective price pursuant to section #aje2 & 7,c7 ! det]m9ation ( ! actual crop rev5ue & agriculture risk cov]age gu>antee pursuant to section #ajf4 7#ba7 ,transitional yield ,! t]m transitional yield has ! mean+ giv5 ! t]m 9 section #ejb7;b7 ( ! ,f$]al ,crop ,insurance ,act 7#g ,u4,s4,c4 #aejb7;b774 7#bb7 ,unit$ ,/ates ,! t]m ,unit$ ,/ates1 :5 us$ 9 a geographical s5se1 means all ( ! ,/ates4 7#bc7 ,unit$ ,/ates premium factor ,! t]m ,unit$ ,/ates ,premium ,factor means ! p]c5tage by :i* ! diff]5ce 9 ! ,unit$ ,/ates loan s*$ule premiums = ,/rict ,middl+ 7,,sm7 #aa_/h-;in* upl& cotton & = ,middl+ 7,m7 #ac_/cb-;in* upl& cotton exce$s ! diff]5ce 9 ! applicable premiums = comp>able int]national qualities4 7#bd7 ,updat$ base acres ,! t]m updat$ base acres1 ) respect to a cov]$ commodity on a f>m1 means ! numb] ( base acres updat$ by ! ,secret>y "u section #aja4 ,i ,commodity ,policy #aja4 ,base acres 7a7 ,m&atory "o-,"t update ( base acres 7#a7 ,9 g5]al ,z soon z practicable aft] ! date ( enactm5t ( ?is ,act1 ! ,secret>y %all update base acres on a f>m = ! #bjai crop ye> 9 accordance ) ?is section4 7#b7 ,m&atory update ,= ! purpose ( apply+ ?is title to cov]$ commodities1 ! ,secret>y %all det]m9e ! updat$ base acres on a f>m by updat+ all ( ! base acres = cov]$ commodities on ! f>m among ^? cov]$ commodities plant$ on ! f>m at any "t dur+ ! #bjad ?r\gh #bjag crop ye>s4 7#c7 ,update =mula ,! updat$ base acres among cov]$ commodities on a f>m %all be ! proportion t-- 7,a7 ! #d-ye> av]age (-- 7i7 ! acreage plant$ on ! f>m to ea* cov]$ commodity = h>ve/1 graz+1 hay+1 silage1 or o!r simil> purposes = ! #bjad ?r\gh #bjag crop ye>s2 & 7ii7 any acreage on ! f>m t ! produc]s 7 prev5t$ f plant+ dur+ ! #bjad ?r\gh #bjag crop ye>s to t cov]$ commodity because ( dr\ght1 flood1 or o!r natural disa/]1 or o!r condition beyond ! control ( ! produc]s1 z det]m9$ by ! ,secret>y2 be>s to 7,b7 ! #d-ye> av]age (-- 7i7 ! acreage plant$ on ! f>m to all cov]$ commodities = h>ve/1 graz+1 hay+1 silage1 or o!r simil> purposes = ! #bjad ?r\gh #bjag crop ye>s2 & 7ii7 any acreage on ! f>m t ! produc]s 7 prev5t$ f plant+ dur+ ! #bjad ?r\gh #bjag crop ye>s to cov]$ commodities because ( dr\ght1 flood1 or o!r natural disa/]1 or o!r condition beyond ! control ( ! produc]s1 z det]m9$ by ! ,secret>y4 7#d7 ,inclusion ( all #d ye>s 9 av]age ,= ! purpose ( det]m9+ a #d-ye> acreage av]age "u p>agraph 7#c7 = a f>m1 ! ,secret>y %all n exclude any crop ye> 9 :i* a cov]$ commodity 0 n plant$4 7#e7 ,treatm5t ( multiple plant+ or prev5t$ plant+ ,= ! purpose ( det]m9+ "u p>agraph 7#c7 ! acreage on a f>m t produc]s plant$ or 7 prev5t$ f plant+ dur+ ! #bjad ?r\gh #bjag crop ye>s to cov]$ commodities1 if ! acreage t 0 plant$ or prev5t$ f be+ plant$ 0 devot$ to ano!r cov]$ commodity 9 ! same crop ye> 7o!r ?an a cov]$ commodity produc$ "u an e/abli%$ practice ( d\ble cropp+71 ! own]-- 7,a7 may elect ! commodity to be us$ = t crop ye> 9 det]m9+ ! #d-ye> av]age2 b 7,b7 may n include bo? ! initial commodity & ! subsequ5t commodity4 7b7 ,adju/m5t ( base acres 7#a7 ,9 g5]al ,not)/&+ ! update ( base acres "u subsection 7a71 ! ,secret>y %all provide = an adju/m5t1 z appropriate1 9 ! updat$ base acres = cov]$ commodities = a f>m :5ev] any ( ! foll[+ circum/ances occur3 7,a7 ,a cons]vation res]ve contract ent]$ into "u section #abca ( ! ,food ,security ,act ( #aihe 7#af ,u4,s4,c4 #chca7 ) respect to ! f>m expires or is volunt>ily t]m9at$4 7,b7 ,cropl& is releas$ f cov]age "u a cons]vation res]ve contract by ! ,secret>y4 7,c7 ,! produc] has eligible oilse$ acreage z ! result ( ! ,secret>y designat+ additional oilse$s1 :i* %all be det]m9$ 9 ! same mann] z eligible oilse$ acreage "u section #aaja7;a77#a77;,d7 ( ! ,food1 ,cons]vation1 & ,en]gy ,act ( #bjjh 7#g ,u4,s4,c4 #hgaa7;a77#a77;,d774 7#b7 ,special cons]vation res]ve acreage paym5t rules ,= ! crop ye> 9 :i* an updat$ base acres adju/m5t "u subp>agraph 7,a7 or 7,b7 ( p>agraph 7#a7 is fir/ made1 ! own] ( ! f>m %all elect to receive price loss cov]age or agriculture risk cov]age ) respect to ! acreage add$ to ! f>m "u ?is subsection or a prorat$ paym5t "u ! cons]vation res]ve contract1 b n bo?4 7c7 ,prev5tion ( excess updat$ base acres 7#a7 ,requir$ r$uction ,if ! updat$ base acres = a f>m exce$s ! actual cropl& acreage ( ! f>m1 ! ,secret>y %all r$uce ! updat$ base acres = "o or m cov]$ commodities = ! f>m s t ! sum ( ! base acres & ! o!r acreage describ$ 9 p>agraph 7#b7 does n exce$ ! actual cropl& acreage ( ! f>m4 7#b7 ,o!r acreage ,! o!r acreage ref]r$ to 9 p>agraph 7#a7 is ! foll[+3 7,a7 ,any acreage on ! f>m enroll$ 9 ! cons]vation res]ve program or wetl&s res]ve program 7or successor programs7 "u *apt] #a ( subtitle ,d ( title ,,xii ( ! ,food ,security ,act ( #aihe 7#af ,u4,s4,c4 #chcj et seq474 7,b7 ,any o!r acreage on ! f>m enroll$ 9 a ,f$]al cons]vation program = :i* paym5ts are made 9 ex*ange = n produc+ an agricultural commodity on ! acreage4 7,c7 ,if ! ,secret>y designates additional oilse$s1 any eligible oilse$ acreage1 :i* %all be det]m9$ 9 ! same mann] z eligible oilse$ acreage "u subsection 7b77#a77;,c74 7#c7 ,selection ( acres ,! ,secret>y %all give ! own] ( ! f>m ! opportunity to select ! updat$ base acres = a cov]$ commodity = ! f>m aga9/ :i* ! r$uction requir$ by p>agraph 7#a7 w be made4 7#d7 ,exception = d\ble-cropp$ acreage ,9 apply+ p>agraph 7#a71 ! ,secret>y %all make an exception 9 ! case ( d\ble cropp+1 z det]m9$ by ! ,secret>y4 7d7 ,r$uction 9 updat$ base acres 7#a7 ,r$uction at option ( own] 7,a7 ,9 g5]al ,! own] ( a f>m may r$uce1 at any "t1 ! updat$ base acres = any cov]$ commodity = ! f>m4 7,b7 ,effect ( r$uction ,a r$uction "u subp>agraph 7,a7 %all be p]man5t & made 9 a mann] prescrib$ by ! ,secret>y4 7#b7 ,requir$ action by ,secret>y 7,a7 ,9 g5]al ,! ,secret>y %all proportionately r$uce updat$ base acres on a f>m = l& t has be5 subdivid$ & develop$ = multiple resid5tial units or o!r nonf>m+ uses if ! size ( ! tracts & ! d5sity ( ! subdivision is su* t ! l& is unlikely to return to ! previ\s agricultural use1 unless ! produc]s on ! f>m demon/rate t ! l&-- 7i7 rema9s devot$ to comm]cial agricultural production2 or 7ii7 is likely to be return$ to ! previ\s agricultural use4 7,b7 ,requirem5t ,! ,secret>y %all e/abli% proc$ures to id5tify l& describ$ 9 subp>agraph 7,a74 #ajb4 ,paym5t yields 7a7 ,effect ( lack ( paym5t yield ,9 ! case ( a cov]$ commodity on a f>m = :i* updat$ base acres h be5 e/abli%$1 if no paym5t yield is o!rwise e/abli%$ = ! cov]$ commodity on ! f>m1 ! ,secret>y %all e/abli% an appropriate paym5t yield = ! cov]$ commodity on ! f>m "u subsection 7b74 7b7 ,use ( simil>ly situat$ f>ms 7#a7 ,9 g5]al ,to e/abli% an appropriate paym5t yield = a cov]$ commodity on a f>m z requir$ by subsection 7a71 ! ,secret>y %all take into consid]ation ! f>m program paym5t yields applicable to t cov]$ commodity = simil>ly situat$ f>ms4 7#b7 ,applicability ( o!r laws ,! use ( any data describ$ 9 p>agraph 7#a7 9 an appeal1 by ! ,secret>y or by ! produc]1 %all n be subject to any o!r provision ( law4 #ajc4 ,paym5t acres 7a7 ,det]m9ation ( paym5t acres 7#a7 ,g5]al rule ,= ! purpose ( price loss cov]age & agriculture risk cov]age :5 c\nty cov]age has be5 select$1 subject to subsection 7c71 ! paym5t acres = ea* cov]$ commodity on a f>m %all be equal to #he p]c5t ( ! updat$ base acres = ! cov]$ commodity on ! f>m4 7#b7 ,effect ( individual cov]age ,9 ! case ( agriculture risk cov]age :5 individual cov]age has be5 select$1 subject to subsection 7c71 ! paym5t acres = a f>m %all be equal to #fe p]c5t ( ! updat$ base acres = all ( ! cov]$ commodities on ! f>m4 7b7 ,effect ( m9imal paym5t acres 7#a7 ,prohibition on paym5ts ,not)/&+ any o!r provision ( ?is ,act1 a produc] on a f>m may n receive price loss cov]age paym5ts or agriculture risk cov]age paym5ts if ! sum ( ! updat$ base acres on ! f>m is #aj acres or less1 z det]m9$ by ! ,secret>y4 7#b7 ,exceptions ,p>agraph 7#a7 does n apply to a produc] t is-- 7,a7 a socially disadvantag$ f>m] or ran*] 7z def9$ 9 section #cee7;e7 ( ! ,consolidat$ ,f>m & ,rural ,developm5t ,act 7#g ,u4,s4,c4 #bjjc7;e7772 or 7,b7 a limit$ res\rce f>m] or ran*]1 z def9$ by ! ,secret>y4 7c7 ,effect ( plant+ fruits & vegetables 7#a7 ,r$uction requir$ ,9 ! mann] provid$ 9 ?is subsection1 paym5t acres on a f>m %all be r$uc$ 9 any crop ye> 9 :i* fruits1 vegetables 7o!r ?an mung beans & pulse crops71 or wild rice h be5 plant$ on updat$ base acres on a f>m4 7#b7 ,price loss cov]age & c\nty cov]age ,9 ! case ( price loss cov]age paym5ts & agricultural risk cov]age paym5ts us+ c\nty cov]age1 ! r$uction "u p>agraph 7#a7 %all be ! am\nt equal to ! updat$ base acres plant$ to crops ref]r$ to 9 t p>agraph 9 excess ( #ae p]c5t ( updat$ base acres4 7#c7 ,individual cov]age ,9 ! case ( agricultural risk cov]age paym5ts us+ individual cov]age1 ! r$uction "u p>agraph 7#a7 %all be ! am\nt equal to ! updat$ base acres plant$ to crops ref]r$ to 9 t p>agraph 9 excess ( #ce p]c5t ( updat$ base acres4 7#d7 ,r$uction exceptions ,no r$uction to paym5t acres %all be made "u ?is subsection if-- 7,a7 cov] crops or crops ref]r$ to 9 p>agraph 7#a7 are gr[n solely = cons]vation purposes & n h>ve/$ = use or sale1 z det]m9$ by ! ,secret>y2 or 7,b7 9 any region 9 :i* !re is a hi/ory ( d\ble-cropp+ cov]$ commodities ) crops ref]r$ to 9 p>agraph 7#a7 & ^? crops 7 s d\ble-cropp$ on ! updat$ base acres1 z det]m9$ by ! ,secret>y4 #ajd4 ,produc] election 7a7 ,election requir$ ,= ! #bjai ?r\gh #bjbd crop ye>s1 all ( ! produc]s on a f>m %all make a "o-"t1 irrevocable election to obta9-- 7#a7 price loss cov]age on a cov]$ commodity-by-cov]$-commodity basis2 or 7#b7 agriculture risk cov]age4 7b7 ,cov]age options ,9 ! election "u subsection 7a71 ! produc]s on a f>m t elect "u p>agraph 7#b7 ( t subsection to obta9 agriculture risk cov]age %all unanim\sly select :e!r to receive agriculture risk cov]age paym5ts bas$ on-- 7#a7 c\nty cov]age applicable on a cov]$ commodity-by-cov]$-commodity basis2 or 7#b7 individual cov]age applicable to all ( ! cov]$ commodities on ! f>m4 7c7 ,effect ( failure ,to make unanim\s election ,if all ! produc]s on a f>m fail to make a unanim\s election "u subsection 7a7 = ! #bjai crop ye>-- 7#a7 ! ,secret>y %all n make any paym5ts ) respect to ! f>m = ! #bjai crop ye> "u ?is title2 & 7#b7 ! produc]s on ! f>m %all be deem$ to h elect$ price loss cov]age = all cov]$ commodities on ! f>m = ! #bjbj ?r\gh #bjbd crop ye>s4 7d7 ,effect ( selection ( c\nty cov]age ,if all ! produc]s on a f>m select c\nty cov]age = a cov]$ commodity1 ! ,secret>y may n make price loss cov]age paym5ts to ! produc]s on ! f>m ) respect to t cov]$ commodity4 7e7 ,effect ( selection ( individual cov]age ,if all ! produc]s on a f>m select individual cov]age1 9 addition to ! selection & election "u ?is section apply+ to ea* produc] on ! f>m1 ! ,secret>y %all consid]1 = purposes ( mak+ ! calculations requir$ by subsections 7b77#b7 & 7c77#c7 ( section #ajf1 ! %>e ( ! produc] ( all f>ms 9 ! same ,/ate-- 7#a7 9 :i* ! produc] has an int]e/2 & 7#b7 = :i* individual cov]age has be5 select$4 7f7 ,prohibition on recon/itution ,! ,secret>y %all ensure t produc]s on a f>m d n recon/itute ! f>m to void or *ange an election or selection made "u ?is section4 #aje4 ,price loss cov]age 7a7 ,price loss cov]age paym5ts ,if all ( ! produc]s on a f>m make ! election "u subsection 7a7 ( section #ajd to obta9 price loss cov]age or1 subject to subsection 7c77#a7 ( t section1 are deem$ to h made t election "u subsection 7c77#b7 ( t section1 ! ,secret>y %all make price loss cov]age paym5ts to produc]s on ! f>m on a cov]$ commodity-by-cov]$-commodity basis if ! ,secret>y det]m9es t1 = any ( ! #bjai ?r\gh #bjbd crop ye>s-- 7#a7 ! effective price = ! cov]$ commodity = ! crop ye>2 is less ?an 7#b7 ! ref]5ce price = ! cov]$ commodity = ! crop ye>4 7b7 ,effective price ,! effective price = a cov]$ commodity = a crop ye> %all be ! high] (-- 7#a7 ! national av]age m>ket price receiv$ by produc]s dur+ ! #ab-mon? m>ket+ ye> = ! cov]$ commodity1 z det]m9$ by ! ,secret>y2 or 7#b7 ! national av]age loan rate = a m>ket+ assi/ance loan = ! cov]$ commodity 9 effect = t crop ye> "u title ,,ii4 7c7 ,paym5t rate ,! paym5t rate %all be equal to ! diff]5ce betwe5-- 7#a7 ! ref]5ce price = ! cov]$ commodity2 & 7#b7 ! effective price det]m9$ "u subsection 7b7 = ! cov]$ commodity4 7d7 ,paym5t am\nt ,if price loss cov]age paym5ts are requir$ to be provid$ "u ?is section = any ( ! #bjai ?r\gh #bjbd crop ye>s = a cov]$ commodity1 ! am\nt ( ! price loss cov]age paym5t to be paid to ! produc]s on a f>m = ! crop ye> %all be equal to ! product obta9$ by multiply+-- 7#a7 ! paym5t rate = ! cov]$ commodity "u subsection 7c72 7#b7 ! paym5t yield = ! cov]$ commodity2 & 7#c7 ! paym5t acres = ! cov]$ commodity4 7e7 ,"t = paym5ts ,if ! ,secret>y det]m9es "u ?is section t price loss cov]age paym5ts are requir$ to be provid$ = ! cov]$ commodity1 ! paym5ts %all be made beg9n+ ,octob] #a1 or z soon z practicable !reaft]1 aft] ! end ( ! applicable m>ket+ ye> = ! cov]$ commodity4 7f7 ,effective price = b>ley ,9 det]m9+ ! effective price = b>ley "u subsection 7b71 ! ,secret>y %all use ! all-b>ley price4 7g7 ,ref]5ce price = temp]ate japonica rice ,! ,secret>y %all provide a ref]5ce price ) respect to temp]ate japonica rice 9 an am\nt equal to #aae p]c5t ( ! am\nt e/abli%$ 9 subp>agraphs 7,f7 & 7,g7 ( section #b7ag7 9 ord] to reflect price premiums4 #ajf4 ,agriculture risk cov]age 7a7 ,agriculture risk cov]age paym5ts ,if all ( ! produc]s on a f>m make ! election "u section #ajd7;a7 to obta9 agriculture risk cov]age1 ! ,secret>y %all make agriculture risk cov]age paym5ts bas$ on ! physical location ( ! f>m to produc]s on ! f>m if ! ,secret>y det]m9es t1 = any ( ! #bjai ?r\gh #bjbd crop ye>s-- 7#a7 ! actual crop rev5ue det]m9$ "u subsection 7b7 = ! crop ye>2 is less ?an 7#b7 ! agriculture risk cov]age gu>antee det]m9$ "u subsection 7c7 = ! crop ye>4 7b7 ,actual crop rev5ue 7#a7 ,c\nty cov]age ,9 ! case ( c\nty cov]age1 ! am\nt ( ! actual crop rev5ue = a c\nty = a crop ye> ( a cov]$ commodity %all be equal to ! product obta9$ by multiply+-- 7,a7 ! actual av]age c\nty yield p] plant$ acre = ! cov]$ commodity1 z det]m9$ by ! ,secret>y2 & 7,b7 ! high] (-- 7i7 ! national av]age m>ket price receiv$ by produc]s dur+ ! #ab-mon? m>ket+ ye> = ! cov]$ commodity1 z det]m9$ by ! ,secret>y2 or 7ii7 ! national av]age loan rate = a m>ket+ assi/ance loan = ! cov]$ commodity 9 effect = t crop ye> "u title ,,ii4 7#b7 ,individual cov]age ,9 ! case ( individual cov]age1 ! am\nt ( ! actual crop rev5ue = a produc] on a f>m = a crop ye> %all be bas$ on ! %>e ( ! produc] ( all cov]$ commodities plant$ on all f>ms = :i* individual cov]age has be5 select$ & 9 :i* ! produc] has an int]e/1 to be det]m9$ by ! ,secret>y z foll[s3 7,a7 ,= ea* cov]$ commodity1 ! product obta9$ by multiply+-- 7i7 ! total production ( ! cov]$ commodity on ^? f>ms1 z det]m9$ by ! ,secret>y2 & 7ii7 ! high] (-- 7,i7 ! national av]age m>ket price receiv$ by produc]s dur+ ! #ab-mon? m>ket+ ye>1 z det]m9$ by ! ,secret>y2 or 7,,ii7 ! national av]age loan rate = a m>ket+ assi/ance loan = ! cov]$ commodity 9 effect = t crop ye> "u title ,,ii4 7,b7 ,! sum ( ! am\nts det]m9$ "u subp>agraph 7,a7 = all cov]$ commodities on ^? f>ms4 7,c7 ,! quoti5t obta9$ by divid+-- 7i7 ! am\nt det]m9$ "u subp>agraph 7,b72 by 7ii7 ! total plant$ acres ( all cov]$ commodities on ^? f>ms4 7c7 ,agriculture risk cov]age gu>antee 7#a7 ,9 g5]al ,! agriculture risk cov]age gu>antee = a crop ye> = a cov]$ commodity %all be equal to #hf p]c5t ( ! b5*m>k rev5ue4 7#b7 ,b5*m>k rev5ue = c\nty cov]age ,9 ! case ( c\nty cov]age1 ! b5*m>k rev5ue %all be ! product obta9$ by multiply+-- 7,a7 subject to p>agraph 7#d71 ! av]age hi/orical c\nty yield1 z det]m9$ by ! ,secret>y1 = ! mo/ rec5t #e crop ye>s1 exclud+ ea* ( ! crop ye>s ) ! highe/ & l[e/ yields2 & 7,b7 subject to p>agraph 7#e71 ! national av]age m>ket price receiv$ by produc]s dur+ ! #ab-mon? m>ket+ ye> = ! mo/ rec5t #e crop ye>s1 exclud+ ea* ( ! crop ye>s ) ! highe/ & l[e/ prices4 7#c7 ,b5*m>k rev5ue = individual cov]age ,9 ! case ( individual cov]age1 ! b5*m>k rev5ue = a produc] on a f>m = a crop ye> %all be bas$ on ! %>e ( ! produc] ( all cov]$ commodities plant$ on all f>ms = :i* individual cov]age has be5 select$ & 9 :i* ! produc] has an int]e/1 to be det]m9$ by ! ,secret>y z foll[s3 7,a7 ,= ea* cov]$ commodity = ea* ( ! mo/ rec5t #e crop ye>s1 ! product obta9$ by multiply+-- 7i7 subject to p>agraph 7#d71 ! yield p] plant$ acre = ! cov]$ commodity on ^? f>ms1 z det]m9$ by ! ,secret>y2 & 7ii7 subject to p>agraph 7#e71 ! national av]age m>ket price receiv$ by produc]s dur+ ! #ab-mon? m>ket+ ye>4 7,b7 ,= ea* cov]$ commodity1 ! av]age ( ! rev5ues det]m9$ "u subp>agraph 7,a7 = ! mo/ rec5t #e crop ye>s1 exclud+ ea* ( ! crop ye>s ) ! highe/ & l[e/ rev5ues4 7,c7 ,= ea* ( ! #bjai ?r\gh #bjbd crop ye>s1 ! sum ( ! am\nts det]m9$ "u subp>agraph 7,b7 = all cov]$ commodities on ^? f>ms1 b adju/$ to reflect ! proportion t-- 7i7 ! total numb] ( acres plant$ on ^? f>ms to a cov]$ commodity2 be>s to 7ii7 ! total numb] ( acres ( all cov]$ commodities plant$ on ^? f>ms4 7#d7 ,yield conditions ,if ! yield p] plant$ acre = ! cov]$ commodity or hi/orical c\nty yield p] plant$ acre = ! cov]$ commodity = any ( ! #e mo/ rec5t crop ye>s1 z det]m9$ by ! ,secret>y1 is less ?an #gj p]c5t ( ! transitional yield1 z det]m9$ by ! ,secret>y1 ! am\nts us$ = any ( ^? ye>s 9 p>agraph 7#b77;,a7 or 7#c77;,a77i7 %all be #gj p]c5t ( ! transitional yield4 7#e7 ,ref]5ce price ,if ! national av]age m>ket price receiv$ by produc]s dur+ ! #ab-mon? m>ket+ ye> = any ( ! #e mo/ rec5t crop ye>s is l[] ?an ! ref]5ce price = ! cov]$ commodity1 ! ,secret>y %all use ! ref]5ce price = any ( ^? ye>s = ! am\nts 9 p>agraph 7#b77;,b7 or 7#c77;,a77ii74 7d7 ,paym5t rate ,! paym5t rate = a cov]$ commodity1 9 ! case ( c\nty cov]age1 or a f>m1 9 ! case ( individual cov]age1 %all be equal to ! less] (-- 7#a7 ! am\nt t-- 7,a7 ! agriculture risk cov]age gu>antee = ! crop ye> applicable "u subsection 7c72 exce$s 7,b7 ! actual crop rev5ue = ! crop ye> applicable "u subsection 7b72 or 7#b7 #aj p]c5t ( ! b5*m>k rev5ue = ! crop ye> applicable "u subsection 7c74 7e7 ,paym5t am\nt ,if agriculture risk cov]age paym5ts are requir$ to be paid = any ( ! #bjai ?r\gh #bjbd crop ye>s1 ! am\nt ( ! agriculture risk cov]age paym5t = ! crop ye> %all be det]m9$ by multiply+-- 7#a7 ! paym5t rate det]m9$ "u subsection 7d72 & 7#b7 ! paym5t acres4 7f7 ,"t = paym5ts ,if ! ,secret>y det]m9es t agriculture risk cov]age paym5ts are requir$ to be provid$ = ! cov]$ commodity1 paym5ts %all be made beg9n+ ,octob] #a1 or z soon z practicable !reaft]1 aft] ! end ( ! applicable m>ket+ ye> = ! cov]$ commodity4 7g7 ,additional duties ( ! ,secret>y ,9 provid+ agriculture risk cov]age1 ! ,secret>y %all-- 7#a7 to ! maximum ext5t practicable1 use all available in=mation & analysis1 includ+ data m9+1 to *eck = anomalies 9 ! det]m9ation ( agriculture risk cov]age paym5ts2 7#b7 to ! maximum ext5t practicable1 calculate a sep>ate actual crop rev5ue & agriculture risk cov]age gu>antee = irrigat$ & nonirrigat$ cov]$ commodities2 7#c7 9 ! case ( individual cov]age1 assign an av]age yield = a f>m on ! basis ( ! yield hi/ory ( repres5tative f>ms 9 ! ,/ate1 region1 or crop report+ di/rict1 z det]m9$ by ! ,secret>y1 if ! ,secret>y det]m9es t ! f>m has plant$ acreage 9 a quantity t is insuffici5t to calculate a repres5tative av]age yield = ! f>m2 & 7#d7 9 ! case ( c\nty cov]age1 assign an actual or b5*m>k c\nty yield = ea* plant$ acre = ! crop ye> = ! cov]$ commodity on ! basis ( ! yield hi/ory ( repres5tative f>ms 9 ! ,/ate1 region1 or crop report+ di/rict1 z det]m9$ by ! ,secret>y1 if-- 7,a7 ! ,secret>y _c e/abli% ! actual or b5*m>k c\nty yield = ea* plant$ acre = a crop ye> = a cov]$ commodity 9 ! c\nty 9 accordance ) subsection 7b77#a7 or 7c77#b72 or 7,b7 ! yield det]m9$ "u subsection 7b77#a7 or 7c77#b7 is an unrepres5tative av]age yield = ! c\nty1 z det]m9$ by ! ,secret>y4 #ajg4 ,produc] agreem5ts 7a7 ,compliance ) c]ta9 requirem5ts 7#a7 ,requirem5ts ,be=e ! produc]s on a f>m may receive paym5ts "u ?is title ) respect to ! f>m1 ! produc]s %all agree1 dur+ ! crop ye> = :i* ! paym5ts are made & 9 ex*ange = ! paym5ts-- 7,a7 to comply ) applicable cons]vation requirem5ts "u subtitle ,b ( title ,,xii ( ! ,food ,security ,act ( #aihe 7#af ,u4,s4,c4 #chaa et seq472 7,b7 to comply ) applicable wetl& protection requirem5ts "u subtitle ,c ( title ,,xii ( t ,act 7#af ,u4,s4,c4 #chba et seq472 7,c7 to effectively control noxi\s we$s & o!rwise ma9ta9 ! l& 9 accordance ) s\nd agricultural practices1 z det]m9$ by ! ,secret>y2 & 7,d7 to use ! l& on ! f>m1 9 a quantity equal to ! attributable updat$ base acres = ! f>m & any updat$ base acres = an agricultural or cons]v+ use1 & n = a nonagricultural comm]cial1 indu/rial1 or resid5tial use1 z det]m9$ by ! ,secret>y4 7#b7 ,compliance ,! ,secret>y may issue su* rules z ! ,secret>y consid]s necess>y to ensure produc] compliance ) p>agraph 7#a74 7#c7 ,modification ,at ! reque/ ( ! transf]ee or own]1 ! ,secret>y may modify ! requirem5ts ( ?is subsection if ! modifications are consi/5t ) ! objectives ( ?is subsection1 z det]m9$ by ! ,secret>y4 7b7 ,transf] or *ange ( int]e/ 9 f>m 7#a7 ,t]m9ation 7,a7 ,9 g5]al ,except z provid$ 9 p>agraph 7#b71 a transf] ( 7or *ange 97 ! int]e/ ( ! produc]s on a f>m = :i* paym5ts "u ?is title are provid$ %all result 9 ! t]m9ation ( ! paym5ts1 unless ! transf]ee or own] ( ! acreage agrees to assume all obligations "u subsection 7a74 7,b7 ,effective date ,! t]m9ation %all take effect on ! date det]m9$ by ! ,secret>y4 7#b7 ,exception ,if a produc] entitl$ to a paym5t "u ?is title dies1 becomes incompet5t1 or is o!rwise unable to receive ! paym5t1 ! ,secret>y %all make ! paym5t 9 accordance ) rules issu$ by ! ,secret>y4 7c7 ,acreage reports ,z a condition on ! receipt ( any b5efits "u ?is ,act1 ! ,secret>y %all require produc]s on a f>m to submit to ! ,secret>y annual acreage reports ) respect to all cropl& on ! f>m4 7d7 ,production reports ,z an additional condition on receiv+ agriculture risk cov]age paym5ts = individual cov]age1 ! ,secret>y %all require a produc] on a f>m to submit to ! ,secret>y annual production reports ) respect to all cov]$ commodities produc$ on all f>ms 9 ! same ,/ate-- 7#a7 9 :i* ! produc] has an int]e/2 & 7#b7 = :i* individual cov]age has be5 select$4 7e7 ,effect ( inaccurate reports ,no p5alty ) respect to b5efits "u ?is ,act %all be assess$ aga9/ a produc] on a f>m = an inaccurate acreage or production report unless ! ,secret>y det]m9es t ! produc] on ! f>m kn[+ly & willfully falsifi$ ! acreage or production report4 7f7 ,t5ants & %>ecropp]s ,9 c>ry+ out ?is title1 ! ,secret>y %all provide adequate safegu>ds to protect ! int]e/s ( t5ants & %>ecropp]s4 7g7 ,%>+ ( paym5ts ,! ,secret>y %all provide = ! %>+ ( paym5ts made "u ?is title among ! produc]s on a f>m on a fair & equitable basis4 ,,ii ,m>ket+ ,loans #bja4 ,availability ( nonrec\rse m>ket+ assi/ance loans = loan commodities 7a7 ,def9ition ( loan commodity ,9 ?is title1 ! t]m loan commodity means :eat1 corn1 gra9 sorghum1 b>ley1 oats1 upl& cotton1 extra long /aple cotton1 long gra9 rice1 m$ium gra9 rice1 peanuts1 soybeans1 o!r oilse$s1 grad$ wool1 nongrad$ wool1 mohair1 honey1 dry peas1 l5tils1 small *ickpeas1 & l>ge *ickpeas4 7b7 ,nonrec\rse loans available 7#a7 ,9 g5]al ,= ea* ( ! #bjai ?r\gh #bjbd crops ( ea* loan commodity1 ! ,secret>y %all make available to produc]s on a f>m nonrec\rse m>ket+ assi/ance loans = loan commodities produc$ on ! f>m4 7#b7 ,t]ms & conditions ,! m>ket+ assi/ance loans %all be made "u t]ms & conditions t are prescrib$ by ! ,secret>y & at ! loan rate e/abli%$ "u section #bjb = ! loan commodity4 7c7 ,eligible production ,! produc]s on a f>m %all be eligible = a m>ket+ assi/ance loan "u subsection 7b7 = any quantity ( a loan commodity produc$ on ! f>m4 7d7 ,compliance ) cons]vation & wetl&s requirem5ts ,z a condition ( ! receipt ( a m>ket+ assi/ance loan "u subsection 7b71 ! produc] %all comply ) applicable cons]vation requirem5ts "u subtitle ,b ( title ,,xii ( ! ,food ,security ,act ( #aihe 7#af ,u4,s4,c4 #chaa et seq47 & applicable wetl& protection requirem5ts "u subtitle ,c ( title ,,xii ( t ,act 7#af ,u4,s4,c4 #chba et seq47 dur+ ! t]m ( ! loan4 7e7 ,special rules = peanuts 7#a7 ,9 g5]al ,?is subsection %all apply only to produc]s ( peanuts4 7#b7 ,options = obta9+ loan ,a m>ket+ assi/ance loan "u ?is section1 & loan defici5cy paym5ts "u section #bje1 may be obta9$ at ! option ( ! produc]s on a f>m ?r\gh-- 7,a7 a designat$ m>ket+ association or m>ket+ coop]ative ( produc]s t is approv$ by ! ,secret>y2 or 7,b7 ! ,f>m ,s]vice ,ag5cy4 7#c7 ,/orage ( loan peanuts ,z a condition on ! approval by ! ,secret>y ( an individual or entity to provide /orage = peanuts = :i* a m>ket+ assi/ance loan is made "u ?is section1 ! individual or entity %all agree-- 7,a7 to provide ! /orage on a nondiscrim9atory basis2 & 7,b7 to comply ) su* additional requirem5ts z ! ,secret>y consid]s appropriate to accompli% ! purposes ( ?is section & promote fairness 9 ! adm9i/ration ( ! b5efits ( ?is section4 7#d7 ,/orage1 h&l+1 & associat$ co/s 7,a7 ,9 g5]al ,to ensure prop] /orage ( peanuts = :i* a loan is made "u ?is section1 ! ,secret>y %all pay h&l+ & o!r associat$ co/s 7o!r ?an /orage co/s7 incurr$ at ! "t at :i* ! peanuts are plac$ "u loan1 z det]m9$ by ! ,secret>y4 7,b7 ,r$emption & =feiture ,! ,secret>y %all-- 7i7 require ! repaym5t ( h&l+ & o!r associat$ co/s paid "u subp>agraph 7,a7 = all peanuts pl$g$ z collat]al = a loan t is r$eem$ "u ?is section2 & 7ii7 pay /orage1 h&l+1 & o!r associat$ co/s = all peanuts pl$g$ z collat]al t are =feit$ "u ?is section4 7#e7 ,m>ket+ ,a m>ket+ association or coop]ative may m>ket peanuts = :i* a loan is made "u ?is section 9 any mann] t con=ms to consum] ne$s1 includ+ ! sep>ation ( peanuts by type & quality4 7#f7 ,reimbursable agreem5ts & paym5t ( adm9i/rative exp5ses ,! ,secret>y may implem5t any reimbursable agreem5ts or provide = ! paym5t ( adm9i/rative exp5ses "u ?is subsection only 9 a mann] t is consi/5t ) ^? activities 9 reg>d to o!r loan commodities4 #bjb4 ,loan rates = nonrec\rse m>ket+ assi/ance loans 7a7 ,9 g5]al ,= purposes ( ea* ( ! #bjai ?r\gh #bjbd crop ye>s1 ! loan rate = a m>ket+ assi/ance loan "u section #bja = a loan commodity %all be equal to ! foll[+3 7#a7 ,9 ! case ( :eat1 #b4id p] bu%el4 7#b7 ,9 ! case ( corn1 #a4ie p] bu%el4 7#c7 ,9 ! case ( gra9 sorghum1 #a4ie p] bu%el4 7#d7 ,9 ! case ( b>ley1 #a4ie p] bu%el4 7#e7 ,9 ! case ( oats1 #a4ci p] bu%el4 7#f7 ,9 ! case ( base quality ( upl& cotton1 = ea* ( ! #bjai ?r\gh #bjbd crop ye>s1 ! simple av]age ( ! adju/$ prevail+ _w price = ! #b imm$iately prec$+ m>ket+ ye>s1 z det]m9$ by ! ,secret>y & ann\nc$ ,octob] #a prec$+ ! next dome/ic plant+s1 b 9 no case less ?an #j4de p] p\nd or m ?an #j4eb p] p\nd4 7#g7 ,9 ! case ( extra long /aple cotton1 #j4gigg p] p\nd4 7#h7 ,9 ! case ( long gra9 rice1 #f4ej p] hundr$weight4 7#i7 ,9 ! case ( m$ium gra9 rice1 #f4ej p] hundr$weight4 7#aj7 ,9 ! case ( soybeans1 #e4jj p] bu%el4 7#aa7 ,9 ! case ( o!r oilse$s1 #aj4ji p] hundr$weight = ea* ( ! foll[+ k9ds ( oilse$s3 7,a7 ,sunfl[] se$4 7,b7 ,rapese$4 7,c7 ,canola4 7,d7 ,saffl[]4 7,e7 ,flaxse$4 7,f7 ,mu/>d se$4 7,g7 ,crambe4 7,h7 ,sesame se$4 7,i7 ,o!r oilse$s designat$ by ! ,secret>y4 7#ab7 ,9 ! case ( dry peas1 #e4dj p] hundr$weight4 7#ac7 ,9 ! case ( l5tils1 #aa4bh p] hundr$weight4 7#ad7 ,9 ! case ( small *ickpeas1 #g4dc p] hundr$weight4 7#ae7 ,9 ! case ( l>ge *ickpeas1 #aa4bh p] hundr$weight4 7#af7 ,9 ! case ( grad$ wool1 #a4ae p] p\nd4 7#ag7 ,9 ! case ( nongrad$ wool1 #j4dj p] p\nd4 7#ah7 ,9 ! case ( mohair1 #d4bj p] p\nd4 7#ai7 ,9 ! case ( honey1 #j4fi p] p\nd4 7#bj7 ,9 ! case ( peanuts1 #cee p] ton4 7b7 ,s+le c\nty loan rate = o!r oilse$s ,! ,secret>y %all e/abli% a s+le loan rate 9 ea* c\nty = ea* k9d ( o!r oilse$s describ$ 9 subsection 7a77#aa74 #bjc4 ,t]m ( loans 7a7 ,t]m ( loan ,9 ! case ( ea* loan commodity1 a m>ket+ assi/ance loan "u section #bja %all h a t]m ( #i mon?s beg9n+ on ! fir/ day ( ! fir/ mon? aft] ! mon? 9 :i* ! loan is made4 7b7 ,ext5sions prohibit$ ,! ,secret>y may n ext5d ! t]m ( a m>ket+ assi/ance loan = any loan commodity4 #bjd4 ,repaym5t ( loans 7a7 ,g5]al rule ,! ,secret>y %all p]mit ! produc]s on a f>m to repay a m>ket+ assi/ance loan "u section #bja = a loan commodity 7o!r ?an upl& cotton1 long gra9 rice1 m$ium gra9 rice1 extra long /aple cotton1 peanuts & confection]y & ea* o!r k9d ( sunfl[] se$ 7o!r ?an oil sunfl[] se$77 at a rate t is ! less] (-- 7#a7 ! loan rate e/abli%$ = ! commodity "u section #bjb1 plus int]e/ 7det]m9$ 9 accordance ) section #afc ( ! ,f$]al ,agriculture ,improvem5t & ,re=m ,act ( #aiif 7#g ,u4,s4,c4 #gbhc772 7#b7 a rate 7z det]m9$ by ! ,secret>y7 t-- 7,a7 is calculat$ bas$ on av]age m>ket prices = ! loan commodity dur+ ! prec$+ #cj-;day p]iod2 & 7,b7 w m9imize discrepancies 9 m>ket+ loan b5efits across ,/ate b\nd>ies & across c\nty b\nd>ies2 or 7#c7 a rate t ! ,secret>y may develop us+ alt]native me?ods = calculat+ a repaym5t rate = a loan commodity t ! ,secret>y det]m9es w-- 7,a7 m9imize pot5tial loan =feitures2 7,b7 m9imize ! accumulation ( /ocks ( ! commodity by ! ,f$]al ,gov]nm5t2 7,c7 m9imize ! co/ incurr$ by ! ,f$]al ,gov]nm5t 9 /or+ ! commodity2 7,d7 all[ ! commodity produc$ 9 ! ,unit$ ,/ates to be m>ket$ freely & competitively1 bo? dome/ically & int]nationally2 & 7,e7 m9imize discrepancies 9 m>ket+ loan b5efits across ,/ate b\nd>ies & across c\nty b\nd>ies4 7b7 ,repaym5t rates = upl& cotton1 long gra9 rice1 & m$ium gra9 rice ,! ,secret>y %all p]mit produc]s to repay a m>ket+ assi/ance loan "u section #bja = upl& cotton1 long gra9 rice1 & m$ium gra9 rice at a rate t is ! less] (-- 7#a7 ! loan rate e/abli%$ = ! commodity "u section #bjb1 plus int]e/ 7det]m9$ 9 accordance ) section #afc ( ! ,f$]al ,agriculture ,improvem5t & ,re=m ,act ( #aiif 7#g ,u4,s4,c4 #gbhc772 or 7#b7 ! prevail+ _w m>ket price = ! commodity1 z det]m9$ & adju/$ by ! ,secret>y 9 accordance ) ?is section4 7c7 ,repaym5t rates = extra long /aple cotton ,repaym5t ( a m>ket+ assi/ance loan = extra long /aple cotton %all be at ! loan rate e/abli%$ = ! commodity "u section #bjb1 plus int]e/ 7det]m9$ 9 accordance ) section #afc ( ! ,f$]al ,agriculture ,improvem5t & ,re=m ,act ( #aiif 7#g ,u4,s4,c4 #gbhc774 7d7 ,prevail+ _w m>ket price ,= purposes ( ?is section & section #bjg1 ! ,secret>y %all prescribe by regulation-- 7#a7 a =mula to det]m9e ! prevail+ _w m>ket price = ea* ( upl& cotton1 long gra9 rice1 & m$ium gra9 rice2 & 7#b7 a me*anism by :i* ! ,secret>y %all ann\nce p]iodically ^? prevail+ _w m>ket prices4 7e7 ,adju/m5t ( prevail+ _w m>ket price = upl& cotton1 long gra9 rice1 & m$ium gra9 rice 7#a7 ,rice ,! prevail+ _w m>ket price = long gra9 rice & m$ium gra9 rice det]m9$ "u subsection 7d7 %all be adju/$ to ,unit$ ,/ates quality & location4 7#b7 ,cotton ,! prevail+ _w m>ket price = upl& cotton det]m9$ "u subsection 7d7-- 7,a7 %all be adju/$ to ,unit$ ,/ates quality & location1 ) ! adju/m5t to include-- 7i7 a r$uction equal to any ,unit$ ,/ates ,premium ,factor = upl& cotton ( a quality high] ?an ,middl+ 7,m7 #ac_/cb-;in*2 & 7ii7 ! av]age co/s to m>ket ! commodity1 includ+ av]age transportation co/s1 z det]m9$ by ! ,secret>y2 & 7,b7 may be fur!r adju/$1 dur+ ! p]iod beg9n+ on ! date ( enactm5t ( ?is ,act & end+ on ,july #ca1 #bjbe1 if ! ,secret>y det]m9es ! adju/m5t is necess>y-- 7i7 to m9imize pot5tial loan =feitures2 7ii7 to m9imize ! accumulation ( /ocks ( upl& cotton by ! ,f$]al ,gov]nm5t2 7iii7 to ensure t upl& cotton produc$ 9 ! ,unit$ ,/ates c be m>ket$ freely & competitively1 bo? dome/ically & int]nationally2 & 7iv7 to ensure an appropriate transition betwe5 curr5t-crop & =w>d-crop price quotations1 except t ! ,secret>y may use =w>d-crop price quotations prior to ,july #ca ( a m>ket+ ye> only if-- 7,i7 !re are insuffici5t curr5t-crop price quotations2 & 7,,ii7 ! =w>d-crop price quotation is ! l[e/ su* quotation available4 7#c7 ,guidel9es = additional adju/m5ts ,9 mak+ adju/m5ts "u ?is subsection1 ! ,secret>y %all e/abli% a me*anism = det]m9+ & ann\nc+ ! adju/m5ts 9 ord] to avoid undue disruption 9 ! ,unit$ ,/ates m>ket4 7f7 ,repaym5t rates = confection]y & o!r k9ds ( sunfl[] se$s ,! ,secret>y %all p]mit ! produc]s on a f>m to repay a m>ket+ assi/ance loan "u section #bja = confection]y & ea* o!r k9d ( sunfl[] se$ 7o!r ?an oil sunfl[] se$7 at a rate t is ! less] (-- 7#a7 ! loan rate e/abli%$ = ! commodity "u section #bjb1 plus int]e/ 7det]m9$ 9 accordance ) section #afc ( ! ,f$]al ,agriculture ,improvem5t & ,re=m ,act ( #aiif 7#g ,u4,s4,c4 #gbhc772 or 7#b7 ! repaym5t rate e/abli%$ = oil sunfl[] se$4 7g7 ,paym5t ( cotton /orage co/s ,effective = ea* ( ! #bjai ?r\gh #bjbd crop ye>s1 ! ,secret>y %all make cotton /orage paym5ts available 9 ! same mann]1 & at ! same rates z ! ,secret>y provid$ /orage paym5ts = ! #bjjf crop ( cotton1 except t ! rates %all be r$uc$ by #aj p]c5t4 7h7 ,repaym5t rate = peanuts ,! ,secret>y %all p]mit produc]s on a f>m to repay a m>ket+ assi/ance loan = peanuts "u section #bja at a rate t is ! less] (-- 7#a7 ! loan rate e/abli%$ = peanuts "u section #bjb7;a77#bj71 plus int]e/ 7det]m9$ 9 accordance ) section #afc ( ! ,f$]al ,agriculture ,improvem5t & ,re=m ,act ( #aiif 7#g ,u4,s4,c4 #gbhc772 or 7#b7 a rate t ! ,secret>y det]m9es w-- 7,a7 m9imize pot5tial loan =feitures2 7,b7 m9imize ! accumulation ( /ocks ( peanuts by ! ,f$]al ,gov]nm5t2 7,c7 m9imize ! co/ incurr$ by ! ,f$]al ,gov]nm5t 9 /or+ peanuts2 & 7,d7 all[ peanuts produc$ 9 ! ,unit$ ,/ates to be m>ket$ freely & competitively1 bo? dome/ically & int]nationally4 7i7 ,au?ority ,to tempor>ily adju/ repaym5t rates 7#a7 ,adju/m5t au?ority ,9 ! ev5t ( a sev]e disruption to m>ket+1 transportation1 or relat$ infra/ructure1 ! ,secret>y may modify ! repaym5t rate o!rwise applicable "u ?is section = m>ket+ assi/ance loans "u section #bja = a loan commodity4 7#b7 ,duration ,any adju/m5t made "u p>agraph 7#a7 9 ! repaym5t rate = m>ket+ assi/ance loans = a loan commodity %all be 9 effect on a %ort-t]m & tempor>y basis1 z det]m9$ by ! ,secret>y4 #bje4 ,loan defici5cy paym5ts 7a7 ,availability ( loan defici5cy paym5ts 7#a7 ,9 g5]al ,except z provid$ 9 subsection 7d71 ! ,secret>y may make loan defici5cy paym5ts available to produc]s on a f>m t1 al?\gh eligible to obta9 a m>ket+ assi/ance loan "u section #bja ) respect to a loan commodity1 agree to =go obta9+ ! loan = ! commodity 9 return = loan defici5cy paym5ts "u ?is section4 7#b7 ,un%orn pelts1 hay1 & silage 7,a7 ,m>ket+ assi/ance loans ,subject to subp>agraph 7,b71 nongrad$ wool 9 ! =m ( un%orn pelts & hay & silage d]iv$ f a loan commodity are n eligible = a m>ket+ assi/ance loan "u section #bja4 7,b7 ,loan defici5cy paym5t ,effective = ea* ( ! #bjai ?r\gh #bjbd crop ye>s1 ! ,secret>y may make loan defici5cy paym5ts available "u ?is section to produc]s on a f>m t produce un%orn pelts or hay & silage d]iv$ f a loan commodity4 7b7 ,computation ,a loan defici5cy paym5t = a loan commodity or commodity ref]r$ to 9 subsection 7a77#b7 %all be equal to ! product obta9$ by multiply+-- 7#a7 ! paym5t rate det]m9$ "u subsection 7c7 = ! commodity2 & 7#b7 ! quantity ( ! commodity produc$ by ! eligible produc]s1 exclud+ any quantity = :i* ! produc]s obta9 a m>ket+ assi/ance loan "u section #bja4 7c7 ,paym5t rate 7#a7 ,9 g5]al ,9 ! case ( a loan commodity1 ! paym5t rate %all be ! am\nt by :i*-- 7,a7 ! loan rate e/abli%$ "u section #bjb = ! loan commodity2 exce$s 7,b7 ! rate at :i* a m>ket+ assi/ance loan = ! loan commodity may be repaid "u section #bjd4 7#b7 ,un%orn pelts ,9 ! case ( un%orn pelts1 ! paym5t rate %all be ! am\nt by :i*-- 7,a7 ! loan rate e/abli%$ "u section #bjb = ungrad$ wool2 exce$s 7,b7 ! rate at :i* a m>ket+ assi/ance loan = ungrad$ wool may be repaid "u section #bjd4 7#c7 ,hay & silage ,9 ! case ( hay or silage d]iv$ f a loan commodity1 ! paym5t rate %all be ! am\nt by :i*-- 7,a7 ! loan rate e/abli%$ "u section #bjb = ! loan commodity f :i* ! hay or silage is d]iv$2 exce$s 7,b7 ! rate at :i* a m>ket+ assi/ance loan = ! loan commodity may be repaid "u section #bjd4 7d7 ,exception = extra long /aple cotton ,?is section %all n apply ) respect to extra long /aple cotton4 7e7 ,effective date = paym5t rate det]m9ation ,! ,secret>y %all det]m9e ! am\nt ( ! loan defici5cy paym5t to be made "u ?is section to ! produc]s on a f>m ) respect to a quantity ( a loan commodity or commodity ref]r$ to 9 subsection 7a77#b7 us+ ! paym5t rate 9 effect "u subsection 7c7 z ( ! date ! produc]s reque/ ! paym5t4 #bjf4 ,paym5ts 9 lieu ( loan defici5cy paym5ts = graz$ acreage 7a7 ,eligible produc]s 7#a7 ,9 g5]al ,effective = ea* ( ! #bjai ?r\gh #bjbd crop ye>s1 9 ! case ( a produc] t w\ld be eligible = a loan defici5cy paym5t "u section #bje = :eat1 b>ley1 or oats1 b t elects to use acreage plant$ to ! :eat1 b>ley1 or oats = ! graz+ ( live/ock1 ! ,secret>y %all make a paym5t to ! produc] "u ?is section if ! produc] ent]s into an agreem5t ) ! ,secret>y to =go any o!r h>ve/+ ( ! :eat1 b>ley1 or oats on t acreage4 7#b7 ,graz+ ( triticale acreage ,effective = ea* ( ! #bjai ?r\gh #bjbd crop ye>s1 ) respect to a produc] on a f>m t uses acreage plant$ to triticale = ! graz+ ( live/ock1 ! ,secret>y %all make a paym5t to ! produc] "u ?is section if ! produc] ent]s into an agreem5t ) ! ,secret>y to =go any o!r h>ve/+ ( triticale on t acreage4 7b7 ,paym5t am\nt 7#a7 ,9 g5]al ,! am\nt ( a paym5t made "u ?is section to a produc] on a f>m describ$ 9 subsection 7a77#a7 %all be equal to ! am\nt det]m9$ by multiply+-- 7,a7 ! loan defici5cy paym5t rate det]m9$ "u section #bje7;c7 9 effect1 z ( ! date ( ! agreem5t1 = ! c\nty 9 :i* ! f>m is locat$2 & 7,b7 ! paym5t quantity det]m9$ by multiply+-- 7i7 ! quantity ( ! graz$ acreage on ! f>m ) respect to :i* ! produc] elects to =go h>ve/+ ( :eat1 b>ley1 or oats2 & 7ii7 7,i7 ! paym5t yield 9 effect = ! calculation ( price loss cov]age ) respect to t loan commodity on ! f>m2 7,,ii7 9 ! case ( a f>m = :i* agriculture risk cov]age is elect$ "u section #ajf7;a71 ! paym5t yield t w\ld o!rwise be 9 effect ) respect to t loan commodity on ! f>m 9 ! abs5ce ( t election2 or 7,,iii7 9 ! case ( a f>m = :i* no paym5t yield is o!rwise e/abli%$ = t loan commodity on ! f>m1 an appropriate yield e/abli%$ by ! ,secret>y 9 a mann] consi/5t ) section #ajb7;a74 7#b7 ,graz+ ( triticale acreage ,! am\nt ( a paym5t made "u ?is section to a produc] on a f>m describ$ 9 subsection 7a77#b7 %all be equal to ! am\nt det]m9$ by multiply+-- 7,a7 ! loan defici5cy paym5t rate det]m9$ "u section #bje7;c7 9 effect = :eat1 z ( ! date ( ! agreem5t1 = ! c\nty 9 :i* ! f>m is locat$2 & 7,b7 ! paym5t quantity det]m9$ by multiply+-- 7i7 ! quantity ( ! graz$ acreage on ! f>m ) respect to :i* ! produc] elects to =go h>ve/+ ( triticale2 & 7ii7 7,i7 ! paym5t yield 9 effect = ! calculation ( price loss cov]age ) respect to :eat on ! f>m2 7,,ii7 9 ! case ( a f>m = :i* agriculture risk cov]age is elect$ "u section #ajf7;a71 ! paym5t yield t w\ld o!rwise be 9 effect = :eat on ! f>m 9 ! abs5ce ( t election2 or 7,,iii7 9 ! case ( a f>m = :i* no paym5t yield is o!rwise e/abli%$ = :eat on ! f>m1 an appropriate yield e/abli%$ by ! ,secret>y 9 a mann] consi/5t ) section #ajb7;a74 7c7 ,"t1 mann]1 & availability ( paym5t 7#a7 ,"t & mann] ,a paym5t "u ?is section %all be made at ! same "t & 9 ! same mann] z loan defici5cy paym5ts are made "u section #bje4 7#b7 ,availability 7,a7 ,9 g5]al ,! ,secret>y %all e/abli% an availability p]iod = ! paym5ts au?oriz$ by ?is section4 7,b7 ,c]ta9 commodities ,9 ! case ( :eat1 b>ley1 & oats1 ! availability p]iod %all be consi/5t ) ! availability p]iod = ! commodity e/abli%$ by ! ,secret>y = m>ket+ assi/ance loans "u ?is title4 7d7 ,prohibition on crop insurance indemnity or non9sur$ crop assi/ance ,a #bjai ?r\gh #bjbd crop ( :eat1 b>ley1 oats1 or triticale plant$ on acreage t a produc] elects1 9 ! agreem5t requir$ by subsection 7a71 to use = ! graz+ ( live/ock 9 lieu ( any o!r h>ve/+ ( ! crop %all n be eligible = an indemnity "u a policy or plan ( insurance au?oriz$ "u ! ,f$]al ,crop ,insurance ,act 7#g ,u4,s4,c4 #aeja et seq47 or non9sur$ crop assi/ance "u section #aif ( ! ,f$]al ,agriculture ,improvem5t & ,re=m ,act ( #aiif 7#g ,u4,s4,c4 #gccc74 #bjg4 ,special m>ket+ loan provisions = upl& cotton 7a7 ,special import quota 7#a7 ,def9ition ( special import quota ,9 ?is subsection1 ! t]m special import quota means a quantity ( imports t is n subject to ! ov]quota t>iff rate ( a t>iff rate quota4 7#b7 ,e/abli%m5t 7,a7 ,9 g5]al ,! ,presid5t %all c>ry out an import quota program1 z provid$ 9 ?is subsection4 7,b7 ,program requirem5ts ,:5ev] ! ,secret>y det]m9es & ann\nces t = any consecutive #d-week p]iod1 ! ,friday ?r\gh ,?ursday av]age price quotation = ! l[e/-pric$ ,unit$ ,/ates gr[?1 z quot$ = ,middl+ 7,m7 #ac_/cb-;in* cotton1 deliv]$ to a def9able & significant int]national m>ket1 z det]m9$ by ! ,secret>y1 exce$s ! prevail+ _w m>ket price1 !re %all imm$iately be 9 effect a special import quota4 7#c7 ,quantity ,! quota %all be equal to ! consumption dur+ a #a-week p]iod ( cotton by dome/ic mills at ! seasonally adju/$ av]age rate ( ! mo/ rec5t #c mon?s = :i* (ficial data ( ! ,dep>tm5t ( ,agriculture are available or1 9 ! abs5ce ( suffici5t data1 z e/imat$ by ! ,secret>y4 7#d7 ,application ,! quota %all apply to upl& cotton-- 7,a7 pur*as$ n lat] ?an #ij days aft] ! date ( ! ann\ncem5t ( ! ,secret>y "u p>agraph 7#b72 & 7,b7 ent]$ into ! ,unit$ ,/ates n lat] ?an #ahj days aft] t date4 7#e7 ,ov]lap ,a special quota p]iod may be e/abli%$ t ov]laps any exi/+ quota p]iod if requir$ by p>agraph 7#b71 except t a special quota p]iod may n be e/abli%$ "u ?is subsection if a quota p]iod has be5 e/abli%$ "u subsection 7b74 7#f7 ,pref]5tial t>iff treatm5t ,! quantity "u a special import quota %all be consid]$ to be an 9-quota quantity = purposes (-- 7,a7 section #bac7;d7 ( ! ,c>ibbean ,bas9 ,economic ,recov]y ,act 7#ai ,u4,s4,c4 #bgjc7;d772 7,b7 section #bjd ( ! ,&ean ,trade ,pref]5ce ,act 7#ai ,u4,s4,c4 #cbjc72 7,c7 section #ejc7;d7 ( ! ,trade ,act ( #aigd 7#ai ,u4,s4,c4 #bdfc7;d772 & 7,d7 ,g5]al ,note #c7;a77iv7 to ! ,h>moniz$ ,t>iff ,s*$ule4 7#g7 ,limitation ,! quantity ( cotton ent]$ into ! ,unit$ ,/ates dur+ any m>ket+ ye> "u ! special import quota e/abli%$ "u ?is subsection may n exce$ ! equival5t ( #aj weeks ( consumption ( upl& cotton by dome/ic mills at ! seasonally adju/$ av]age rate ( ! #c mon?s imm$iately prec$+ ! fir/ special import quota e/abli%$ 9 any m>ket+ ye>4 7b7 ,limit$ global import quota = upl& cotton 7#a7 ,def9itions ,9 ?is subsection3 7,a7 ,dem& ,! t]m dem& means-- 7i7 ! av]age seasonally adju/$ annual rate ( dome/ic mill consumption ( cotton dur+ ! mo/ rec5t #c mon?s = :i* (ficial data ( ! ,dep>tm5t ( ,agriculture are available or1 9 ! abs5ce ( suffici5t data1 z e/imat$ by ! ,secret>y2 & 7ii7 ! l>g] (-- 7,i7 av]age exports ( upl& cotton dur+ ! prec$+ #f m>ket+ ye>s2 or 7,,ii7 cumulative exports ( upl& cotton plus out/&+ export sales = ! m>ket+ ye> 9 :i* ! quota is e/abli%$4 7,b7 ,limit$ global import quota ,! t]m limit$ global import quota means a quantity ( imports t is n subject to ! ov]quota t>iff rate ( a t>iff rate quota4 7,c7 ,supply ,! t]m supply means1 us+ ! late/ (ficial data ( ! ,dep>tm5t ( ,agriculture-- 7i7 ! c>ryov] ( upl& cotton at ! beg9n+ ( ! m>ket+ ye> 7adju/$ to #dhj-p\nd bales7 9 :i* ! quota is e/abli%$2 7ii7 production ( ! curr5t crop2 & 7iii7 imports to ! late/ date available dur+ ! m>ket+ ye>4 7#b7 ,program ,! ,presid5t %all c>ry out an import quota program t provides t :5ev] ! ,secret>y det]m9es & ann\nces t ! av]age price ( ! base quality ( upl& cotton1 z det]m9$ by ! ,secret>y1 9 ! designat$ spot m>kets = a mon? exce$$ #acj p]c5t ( ! av]age price ( ! quality ( cotton 9 ! m>kets = ! prec$+ #cf mon?s1 not)/&+ any o!r provision ( law1 !re %all imm$iately be 9 effect a limit$ global import quota subject to ! foll[+ conditions3 7,a7 ,quantity ,! quantity ( ! quota %all be equal to #ba days ( dome/ic mill consumption ( upl& cotton at ! seasonally adju/$ av]age rate ( ! mo/ rec5t #c mon?s = :i* (ficial data ( ! ,dep>tm5t ( ,agriculture are available or1 9 ! abs5ce ( suffici5t data1 z e/imat$ by ! ,secret>y4 7,b7 ,quantity if prior quota ,if a quota has be5 e/abli%$ "u ?is subsection dur+ ! prec$+ #ab mon?s1 ! quantity ( ! quota next e/abli%$ "u ?is subsection %all be ! small] ( #ba days ( dome/ic mill consumption calculat$ "u subp>agraph 7,a7 or ! quantity requir$ to increase ! supply to #acj p]c5t ( ! dem&4 7,c7 ,pref]5tial t>iff treatm5t ,! quantity "u a limit$ global import quota %all be consid]$ to be an 9-quota quantity = purposes (-- 7i7 section #bac7;d7 ( ! ,c>ibbean ,bas9 ,economic ,recov]y ,act 7#ai ,u4,s4,c4 #bgjc7;d772 7ii7 section #bjd ( ! ,&ean ,trade ,pref]5ce ,act 7#ai ,u4,s4,c4 #cbjc72 7iii7 section #ejc7;d7 ( ! ,trade ,act ( #aigd 7#ai ,u4,s4,c4 #bdfc7;d772 & 7iv7 ,g5]al ,note #c7;a77iv7 to ! ,h>moniz$ ,t>iff ,s*$ule4 7,d7 ,quota entry p]iod ,:5 a quota is e/abli%$ "u ?is subsection1 cotton may be ent]$ "u ! quota dur+ ! #ij-;day p]iod beg9n+ on ! date ! quota is e/abli%$ by ! ,secret>y4 7#c7 ,no ov]lap ,not)/&+ p>agraph 7#b71 a quota p]iod may n be e/abli%$ t ov]laps an exi/+ quota p]iod or a special quota p]iod e/abli%$ "u subsection 7a74 7c7 ,economic adju/m5t assi/ance to us]s ( upl& cotton 7#a7 ,9 g5]al ,subject to p>agraph 7#b71 ! ,secret>y %all1 on a mon?ly basis1 make economic adju/m5t assi/ance available to dome/ic us]s ( upl& cotton 9 ! =m ( paym5ts = all docum5t$ use ( t upl& cotton dur+ ! previ\s mon?ly p]iod reg>dless ( ! orig9 ( ! upl& cotton4 7#b7 ,value ( assi/ance ,! value ( ! assi/ance provid$ "u p>agraph 7#a7 %all be #c c5ts p] p\nd4 7#c7 ,all[able purposes ,economic adju/m5t assi/ance "u ?is subsection %all be made available only to dome/ic us]s ( upl& cotton t c]tify t ! assi/ance %all be us$ only to acquire1 con/ruct1 in/all1 mod]nize1 develop1 conv]t1 or exp& l&1 plant1 build+s1 equipm5t1 facilities1 or ma*9]y4 7#d7 ,review or audit ,! ,secret>y may conduct su* review or audit ( ! records ( a dome/ic us] "u ?is subsection z ! ,secret>y det]m9es necess>y to c>ry out ?is subsection4 7#e7 ,improp] use ( assi/ance ,if ! ,secret>y det]m9es1 aft] a review or audit ( ! records ( ! dome/ic us]1 t economic adju/m5t assi/ance "u ?is subsection 0 n us$ = ! purposes specifi$ 9 p>agraph 7#c71 ! dome/ic us] %all be-- 7,a7 liable = ! repaym5t ( ! assi/ance to ! ,secret>y1 plus int]e/1 z det]m9$ by ! ,secret>y2 & 7,b7 ineligible to receive assi/ance "u ?is subsection = a p]iod ( #a ye> foll[+ ! det]m9ation ( ! ,secret>y4 #bjh4 ,special competitive provisions = extra long /aple cotton 7a7 ,competitiv5ess program ,not)/&+ any o!r provision ( law1 dur+ ! p]iod beg9n+ on ! date ( enactm5t ( ?is ,act & end+ on ,july #ca1 #bjbe1 ! ,secret>y %all c>ry out a program-- 7#a7 to ma9ta9 & exp& ! dome/ic use ( extra long /aple cotton produc$ 9 ! ,unit$ ,/ates2 7#b7 to increase exports ( extra long /aple cotton produc$ 9 ! ,unit$ ,/ates2 & 7#c7 to ensure t extra long /aple cotton produc$ 9 ! ,unit$ ,/ates rema9s competitive 9 _w m>kets4 7b7 ,paym5ts "u program2 trigg] ,"u ! program1 ! ,secret>y %all make paym5ts available "u ?is section :5ev]-- 7#a7 = a consecutive #d-week p]iod1 ! _w m>ket price = ! l[e/ pric$ compet+ gr[? ( extra long /aple cotton 7adju/$ to ,unit$ ,/ates quality & location & = o!r factors affect+ ! competitiv5ess ( t cotton71 z det]m9$ by ! ,secret>y1 is bel[ ! prevail+ ,unit$ ,/ates price = a compet+ gr[? ( extra long /aple cotton2 & 7#b7 ! l[e/ pric$ compet+ gr[? ( extra long /aple cotton 7adju/$ to ,unit$ ,/ates quality & location & = o!r factors affect+ ! competitiv5ess ( t cotton71 z det]m9$ by ! ,secret>y1 is less ?an #acd p]c5t ( ! loan rate = extra long /aple cotton4 7c7 ,eligible recipi5ts ,! ,secret>y %all make paym5ts available "u ?is section to dome/ic us]s ( extra long /aple cotton produc$ 9 ! ,unit$ ,/ates & export]s ( extra long /aple cotton produc$ 9 ! ,unit$ ,/ates t ent] into an agreem5t ) ! ,commodity ,cr$it ,corporation to p>ticipate 9 ! program "u ?is section4 7d7 ,paym5t am\nt ,paym5ts "u ?is section %all be bas$ on ! product obta9$ by multiply+-- 7#a7 ! diff]5ce 9 ! prices ref]r$ to 9 subsection 7b77#a7 dur+ ! f\r? week ( ! consecutive #d-week p]iod2 & 7#b7 ! am\nt ( docum5t$ pur*ases by dome/ic us]s & sales = export by export]s made 9 ! week foll[+ t consecutive #d-week p]iod4 #bji4 ,availability ( rec\rse loans = high moi/ure fe$ gra9s & se$ cotton 7a7 ,high moi/ure fe$ gra9s 7#a7 ,def9ition ( high moi/ure ,/ate ,9 ?is subsection1 ! t]m high moi/ure /ate means corn or gra9 sorghum hav+ a moi/ure cont5t 9 excess ( ,commodity ,cr$it ,corporation /&>ds = m>ket+ assi/ance loans made by ! ,secret>y "u section #bja4 7#b7 ,rec\rse loans available ,= ea* ( ! #bjai ?r\gh #bjbd crops ( corn & gra9 sorghum1 ! ,secret>y %all make available rec\rse loans1 z det]m9$ by ! ,secret>y1 to produc]s on a f>m t-- 7,a7 normally h>ve/ all or a portion ( _! crop ( corn or gra9 sorghum 9 a high moi/ure /ate2 7,b7 pres5t-- 7i7 c]tifi$ scale tickets f an inspect$1 c]tifi$ comm]cial scale1 includ+ a lic5s$ w>eh\se1 fe$lot1 fe$ mill1 di/ill]y1 or o!r simil> entity approv$ by ! ,secret>y1 pursuant to regulations issu$ by ! ,secret>y2 or 7ii7 field or o!r physical measurem5ts ( ! /&+ or /or$ crop 9 regions ( ! ,unit$ ,/ates1 z det]m9$ by ! ,secret>y1 t d n h c]tifi$ comm]cial scales f :i* c]tifi$ scale tickets may be obta9$ )9 reasonable proximity ( h>ve/ op]ation2 7,c7 c]tify t ! produc]s on ! f>m 7 ! own]s ( ! fe$ gra9 at ! "t ( deliv]y to1 & t ! quantity to be plac$ "u loan "u ?is subsection 0 9 fact h>ve/$ on ! f>m & deliv]$ to1 a fe$lot1 fe$ mill1 or comm]cial or on-f>m high-moi/ure /orage facility1 or to a facility ma9ta9$ by ! us]s ( corn & gra9 sorghum 9 a high moi/ure /ate2 & 7,d7 comply ) deadl9es e/abli%$ by ! ,secret>y = h>ve/+ ! corn or gra9 sorghum & submit applications = loans "u ?is subsection )9 deadl9es e/abli%$ by ! ,secret>y4 7#c7 ,eligibility ( acquir$ fe$ gra9s ,a loan "u ?is subsection %all be made on a quantity ( corn or gra9 sorghum ( ! same crop acquir$ by ! produc] 9 a quantity equal to ! product obta9$ by multiply+-- 7,a7 ! acreage ( ! corn or gra9 sorghum 9 a high moi/ure /ate h>ve/$ on ! f>m ( ! produc]2 & 7,b7 ! l[] (-- 7i7 ! paym5t yield 9 effect = ! calculation ( price loss cov]age1 or ! paym5t yield deem$ to be 9 effect or e/abli%$ "u subclause 7,,ii7 or 7,,iii7 ( section #bjf7;b77#a77;,b77ii71 ) respect to corn or gra9 sorghum on a field t is simil> to ! field f :i* ! corn or gra9 sorghum ref]r$ to 9 subp>agraph 7,a7 0 obta9$2 or 7ii7 ! actual yield ( corn or gra9 sorghum on a field1 z det]m9$ by ! ,secret>y1 t is simil> to ! field f :i* ! corn or gra9 sorghum ref]r$ to 9 subp>agraph 7,a7 0 obta9$4 7b7 ,rec\rse loans available = se$ cotton ,= ea* ( ! #bjai ?r\gh #bjbd crops ( upl& cotton & extra long /aple cotton1 ! ,secret>y %all make available rec\rse se$ cotton loans1 z det]m9$ by ! ,secret>y1 on any production4 7c7 ,repaym5t rates ,repaym5t ( a rec\rse loan made "u ?is section %all be at ! loan rate e/abli%$ = ! commodity by ! ,secret>y1 plus int]e/ 7det]m9$ 9 accordance ) section #afc ( ! ,f$]al ,agriculture ,improvem5t & ,re=m ,act ( #aiif 7#g ,u4,s4,c4 #gbhc774 #baj4 ,adju/m5ts ( loans 7a7 ,adju/m5t au?ority ,subject to subsection 7e71 ! ,secret>y may make appropriate adju/m5ts 9 ! loan rates = any loan commodity 7o!r ?an cotton7 = diff]5ces 9 grade1 type1 quality1 location1 & o!r factors4 7b7 ,mann] ( adju/m5t ,! adju/m5ts "u subsection 7a7 %all1 to ! maximum ext5t practicable1 be made 9 su* a mann] t ! av]age loan level = ! commodity w1 on ! basis ( ! anticipat$ incid5ce ( ! factors1 be equal to ! level ( support det]m9$ 9 accordance ) ?is title4 7c7 ,adju/m5t on c\nty basis 7#a7 ,9 g5]al ,! ,secret>y may e/abli% loan rates = a crop = produc]s 9 individual c\nties 9 a mann] t results 9 ! l[e/ loan rate be+ #ie p]c5t ( ! national av]age loan rate1 if ^? loan rates d n result 9 an increase 9 outlays4 7#b7 ,prohibition ,adju/m5ts "u ?is subsection %all n result 9 an increase 9 ! national av]age loan rate = any ye>4 7d7 ,adju/m5t 9 loan rate = cotton 7#a7 ,9 g5]al ,! ,secret>y may make appropriate adju/m5ts 9 ! loan rate = cotton = diff]5ces 9 quality factors4 7#b7 ,types ( adju/m5ts ,loan rate adju/m5ts "u p>agraph 7#a7 may include-- 7,a7 ! use ( non-spot m>ket price data1 9 addition to spot m>ket price data1 t w\ld enhance ! accuracy ( ! price in=mation us$ 9 det]m9+ quality adju/m5ts "u ?is subsection2 7,b7 adju/m5ts 9 ! premiums or disc\nts associat$ ) upl& cotton ) a /aple l5g? ( #cc or above due to micronaire ) ! goal ( elim9at+ any unnecess>y artificial splits 9 ! calculations ( ! premiums or disc\nts2 & 7,c7 su* o!r adju/m5ts z ! ,secret>y det]m9es appropriate1 aft] consultations conduct$ 9 accordance ) p>agraph 7#c74 7#c7 ,consultation ) private sector 7,a7 ,prior to revision ,9 mak+ adju/m5ts to ! loan rate = cotton 7includ+ any review ( ! adju/m5ts7 z provid$ 9 ?is subsection1 ! ,secret>y %all consult ) repres5tatives ( ! ,unit$ ,/ates cotton indu/ry4 7,b7 ,inapplicability ( ,f$]al advisory committee ,act ,! ,f$]al ,advisory ,committee ,act 7#e ,u4,s4,c4 ,app47 %all n apply to consultations "u ?is subsection4 7#d7 ,review ( adju/m5ts ,! ,secret>y may review ! op]ation ( ! upl& cotton quality adju/m5ts implem5t$ pursuant to ?is subsection & may make fur!r adju/m5ts to ! adm9i/ration ( ! loan program = upl& cotton1 by revok+ or revis+ any adju/m5t tak5 "u p>agraph 7#b74 7e7 ,rice ,! ,secret>y %all n make adju/m5ts 9 ! loan rates = long gra9 rice & m$ium gra9 rice1 except = diff]5ces 9 grade & quality 7includ+ mill+ yields74 ,,iii ,adm9i/ration #cja4 ,adm9i/ration g5]ally 7a7 ,use ( commodity cr$it corporation ,! ,secret>y %all use ! funds1 facilities1 & au?orities ( ! ,commodity ,cr$it ,corporation to c>ry out ?is ,act4 7b7 ,det]m9ations by ,secret>y ,a det]m9ation made by ! ,secret>y "u ?is ,act %all be f9al & conclusive4 7c7 ,regulations 7#a7 ,9 g5]al ,except z o!rwise provid$ 9 ?is subsection1 n lat] ?an #ij days aft] ! date ( enactm5t ( ?is ,act1 ! ,secret>y & ! ,commodity ,cr$it ,corporation1 z appropriate1 %all promulgate su* regulations z are necess>y to implem5t ?is ,act & ! am5dm5ts made by ?is ,act4 7#b7 ,proc$ure ,! promulgation ( ! regulations & adm9i/ration ( ?is ,act & ! am5dm5ts made by ?is ,act %all be made )\t reg>d to-- 7,a7 ! notice & comm5t provisions ( section #eec ( title #e1 ,unit$ ,/ates ,code2 7,b7 *apt] #ce ( title #dd1 ,unit$ ,/ates ,code 7commonly kn[n z ! ,pap]work ,r$uction ,act72 & 7,c7 ! ,/atem5t ( ,policy ( ! ,secret>y ( ,agriculture effective ,july #bd1 #aiga 7#cf ,f$4 ,reg4 #achjd71 relat+ to notices ( propos$ rulemak+ & public p>ticipation 9 rulemak+4 7#c7 ,congressional review ( ag5cy rulemak+ ,9 c>ry+ out ?is subsection1 ! ,secret>y %all use ! au?ority provid$ "u section #hjh ( title #e1 ,unit$ ,/ates ,code4 7d7 ,adju/m5t au?ority relat$ to trade agreem5ts compliance 7#a7 ,requir$ det]m9ation2 adju/m5t ,if ! ,secret>y det]m9es t exp5ditures "u ?is ,act t are subject to ! total all[able dome/ic support levels "u ! ,uruguay ,r\nd ,agreem5ts 7z def9$ 9 section #b ( ! ,uruguay ,r\nd ,agreem5ts ,act 7#ai ,u4,s4,c4 #ceja77 w exce$ ^? all[able levels = any applicable report+ p]iod1 ! ,secret>y %all1 to ! maximum ext5t practicable1 make adju/m5ts 9 ! am\nt ( ^? exp5ditures dur+ t p]iod to ensure t ^? exp5ditures d n exce$ ! all[able levels4 7#b7 ,congressional notification ,be=e mak+ any adju/m5t "u p>agraph 7#a71 ! ,secret>y %all submit to ! ,committee on ,agriculture ( ! ,h\se ( ,repres5tatives & ! ,committee on ,agriculture1 ,nutrition1 & ,=e/ry ( ! ,s5ate a report describ+ ! det]m9ation made "u t p>agraph & ! ext5t ( ! adju/m5t to be made4 #cjb4 ,susp5sion ( p]man5t price support au?ority 7a7 ,agricultural adju/m5t ,act ( #aich ,! foll[+ provisions ( ! ,agricultural ,adju/m5t ,act ( #aich %all n be applicable to ! #bjai ?r\gh #bjbd crops ( cov]$ commodities & cotton3 7#a7 ,p>ts ,,ii ?r\gh ,v ( subtitle ,b ( title ,,iii 7#g ,u4,s4,c4 #acbf et seq474 7#b7 ,9 ! case ( upl& cotton1 section #cgg 7#g ,u4,s4,c4 #acgg74 7#c7 ,subtitle ,d ( title ,,iii 7#g ,u4,s4,c4 #acgi;a et seq474 7#d7 ,title ,,iv 7#g ,u4,s4,c4 #adja et seq474 7b7 ,agricultural ,act ( #aidi ,! foll[+ provisions ( ! ,agricultural ,act ( #aidi %all n be applicable to ! #bjai ?r\gh #bjbd crops ( cov]$ commodities & cotton3 7#a7 ,section #aja 7#g ,u4,s4,c4 #adda74 7#b7 ,section #ajc7;a7 7#g ,u4,s4,c4 #addd7;a774 7#c7 ,section #aje 7#g ,u4,s4,c4 #addd;b74 7#d7 ,section #ajg 7#g ,u4,s4,c4 #adde;a74 7#e7 ,section #aaj 7#g ,u4,s4,c4 #adde;e74 7#f7 ,section #aab 7#g ,u4,s4,c4 #adde;g74 7#g7 ,section #aae 7#g ,u4,s4,c4 #addek74 7#h7 ,section #bja 7#g ,u4,s4,c4 #addf74 7#i7 ,title ,,iii 7#g ,u4,s4,c4 #addg et seq474 7#aj7 ,title ,,iv 7#g ,u4,s4,c4 #adba et seq471 o!r ?an sections #djd1 #dab1 & #daf 7#g ,u4,s4,c4 #adbd1 #adbi1 & #adca74 7#aa7 ,title ,v 7#g ,u4,s4,c4 #adfa et seq474 7#ab7 ,title ,,vi 7#g ,u4,s4,c4 #adga et seq474 7c7 ,susp5sion ( c]ta9 quota provisions ,! jo9t resolution entitl$ ,a jo9t resolution relat+ to corn & :eat m>ket+ quotas "u ! ,agricultural ,adju/m5t ,act ( #aich1 z am5d$1 approv$ ,may #bf1 #aida 7#g ,u4,s4,c4 #accj & #acdj71 %all n be applicable to ! crops ( :eat plant$ = h>ve/ 9 ! cal5d> ye>s #bjai ?r\gh #bjbd4 #cjc4 ,con=m+ am5dm5ts ,sections #abjg & #abjh ( ! ,agricultural ,act ( #bjad 7#g ,u4,s4,c4 #ijcg1 #ijch7 are repeal$4