Page:United States Statutes at Large Volume 102 Part 1.djvu/989

 PUBLIC LAW 100-387—AUG. 11, 1988

102 STAT. 951

"(4) The provisions of this subsection that limit payments to any Contracts. person, and section 1305(d) of the Agricultural Reconciliation Act of State and local 1987, shall not be applicable to payments received by a State, governments. political subdivision, or agency thereof in connection with agreements entered into under a special conservation reserve enhancement program carried out by that entity that has been approved by the Secretary. The Secretary may enter into such agreements for payments to States, political subdivisions, or agencies thereof that the Secretary determines will advance the purposes of this subtitle.".

Subtitle D—Rural Businesses SEC. 331. DISASTER ASSISTANCE FOR RURAL BUSINESS ENTERPRISES. (a) LOAN

GUARANTEES.—The Secretary

of Agriculture

shall

7 USC 1929a note. Indians.

guarantee loans made in rural areas to public, private, or cooperative organizations, to Indian tribes on Federal and State reservations or other federally recognized Indian tribal groups, or to any other business entities to assist them in alleviating distress caused to such entities, directly or indirectly, by the drought, hail, excessive moisture, or related condition in 1988, and shall gujirantee loans made in rural areas to such entities that refinance or restructure debt as a result of losses incurred, directly or indirectly, because of such natural disasters in 1988. OJ) ELIGIBLE LOANS.—Loans that may be guaranteed under this Banks and section are loans made by any Federal or State chartered bank, banking. savings and loan association, cooperative lending agency, insurance company, or other legally organized lending agency. (c) LENDING LIMITS.—-(1) No guarantee under this section may Loans. exceed 90 percent of the principal amount of the loan and guarantees made on loans to any eligible borrower may not exceed $500,000. (2) The total amount of loan guarantees that may be made under this section shall not exceed $200,000,000. (d) U S E OF THE RURAL DEVELOPMENT INSURANCE FUND.—The Secretary shall use the Rural Development Insurance Fund established under section 309A of the Consolidated Farm and Rural Development Act for the purposes of discharging the Secretary's obligations under this section. SEC. 332. SALE OF CORN TO ETHANOL PRODUCERS.

(a) IN GENERAL.—Except as otherwise provided in this section and notwithstanding section 110(f) of the Agricultural Act of 1949 (7 U.S.C. 1445e(f)) or any other provision of law, if, during any month commencing after July 31, 1988, the average com price (as determined under subsection (d)) exceeds the fuel conversion price (as defined in section 212 of the Agricultural Trade Suspension Adjustment Act of 1980 (7 U.S.C. 4005)), the Secretary of Agriculture may make available for sale to domestic producers of ethanol fuel, for the production of ethanol, not more than 12,000,000 bushels per month of corn owned by the Commodity Credit (jorporation. (b) PRICE.—Corn shall be sold under this section at a price that is not more than such fuel conversion price, except that such price shall not be less than 110 percent of the basic county loan rate for corn, prior to any adjustment made under section 105C(a)(3) of the Agricultural Act of 1949 (7 U.S.C. 1444e(a)(3)).

7 USC 1427 note.

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