Page:United States Statutes at Large Volume 101 Part 1.djvu/356

 101 STAT. 326

Regulations.

7 USC 1446.

PUBLIC LAW 100-45—MAY 27, 1987

"(i) the loan level determined for such crop; or "(ii) the prevailing world market price for sunflower seeds, as determined by the Secretary. "(B) If the Secretary permits a producer to repay a loan in accordance with subparagraph (A), the Secretary shall prescribe by regulation— "(i) a formula to define the prevailing world market price for sunflower seeds; and "(ii) a mechanism by which the Secretary shall announce periodically the prevailing world market price for sunflower seeds. "(3)(A) The Secretary may, for each of the 1987 through 1990 crops of sunflowers, make payments available to producers who, although eligible to obtain a loan or purchase agreement under paragraph (1), agree to forgo obtaining such loan or agreement in return for such payments. "(B) A payment under this paragraph shall be computed by multiplying— -, "(i) the loan payment rate; by "(ii) the quantity of sunflower seeds the producer is eligible to place under loan. "(C) For purposes of this paragraph, the loan payment rate shall not be less than the amount by which the loan level determined for such crop under paragraph (1) exceeds the level at which a loan may be repaid under this subsection. "(D) At the option of the Secretary, payments to a producer under this paragraph shall be made in the form of cash or negotiable certificates redeemable for any agricultural commodity owned by the Commodity Credit Corporation, or any combination thereof. "(4) For purposes of this subsection, the marketing year for sunflower seeds shall be prescribed by the Secretary by regulation. "(5)(A) If price support is to be provided under this subsection for a crop of sunflowers, the Secretary shall make a preliminary announcement of the level of price support for sunflower seeds for the marketing year for such crop not earlier than 30 days before the beginning of the marketing year. The announced level shall be based on the latest information and statistics available at the time of the announcement. "(B) The Secretary shall make a final announcement of such level as soon as complete information and statistics are available on prices for the 5 years preceding the beginning of the marketing year. Such final level of support may not be announced later than 30 days after the beginning of the marketing year with respect to which the announcement is made. The final level of support may not be less than the level of support provided for in the preliminary announcement. "(6) Notwithstanding any other provision of law, the Secretary shall not require participation in any production adjustment program for sunflowers or any other commodity as a condition of eligibility for price support for sunflower seeds.'. (b) It is the sense of Congress that, if producers are permitted to repay loans for a crop of soybeans under section 201(i) of the Agricultural Act of 1949 at a level that is less than the full amount of the loan, the Secretary should— • Amu

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