Page:United States Statutes at Large Volume 104 Part 5.djvu/121

 PUBLIC LAW 101-624—NOV. 28, 1990 104 STAT. 3443 terest earned on the sums and any late payment penedties collected by the Secretary shall be credited to the fund and shall be avedlable without fiscal year limitations for the expenses of the Service incurred in carrying out subsection (c) and this subsection.". (b) PENALTY.— Section 30 of such Act (7 U.S.C. 270) is amended by inserting after "who shall issue or utter a false or fraudulent receipt or certificate," the following: "or furnish false or fraudulent information to a central filing system maintained under section 17,". TITLE VI—RICE SEC. 601. LOANS, PAYMENTS, AND ACREAGE REDUCTION PROGRAMS FOR THE 1991 THROUGH 1995 CROPS OF RICE. The Agricultural Act of 1949 is gunended by inserting after section lOlA (7 U.S.C. 1441-1) the following new section: "SEC. lOlB. LOANS, PAYMENTS, AND ACREAGE REDUCTION PROGRAMS 7 USC 1441-2. FOR THE 1991 THROUGH 1995 CROPS OF RICE. "(a) LOANS AND PURCHASES. — "(1) IN GENERAL. — Except as otherwise provided in this subsection, the Secretary shall make available to producers on a farm nonrecourse loans and purchases for each of the 1991 through 1995 crops of rice produced on the farm at a level that is not less than the higher of— "(A) 85 percent of the simple average price received by producers, as determined by the Secretary, during the marketing years for the immediately preceding 5 crops of rice, excluding the year in which the average price was the highest and the year in which the average price was the lowest in the period; or " (B) $6.50 per hundredweight. "(2) MAXIMUM REDUCTION. — The loan level for any crop of rice determined under paragraph (1) may not be reduced by more than 5 percent from the level determined for the preceding crop. " (3) ANNOUNCEMENT OF LOAN LEVEL AND ESTABLISHED PRICE. — The loan and purchase level and the established price for each of the 1991 through 1995 crops of rice shall be announced not later than January 31 of each calendar year for the crop harvested in the calendar year or, in the case of the 1991 crop, as soon as practicable after the date of enactment of this section. "(4) TERM.— A loan made under this subsection shall have a term of not more than 9 months beginning after the month in which the application for the loan is made. " (5) MARKETING LOAN PROVISIONS. — "(A) IN GENERAL. — In order to ensure that a competitive market position is maintained for rice, the Secretary shall permit a producer to repay a loan made under paragraph (1) for a crop at a level that is the lesser of— "(i) the loan level determined for the crop; or "(ii) the higher of— "(I) the loan level determined for the crop multiplied by 70 percent; or "(II) the prevailing world market price for rice, as determined by the Secretary.

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