Page:United States Statutes at Large Volume 104 Part 5.djvu/153

 PUBLIC LAW 101-624—NOV. 28, 1990 104 STAT. 3475 SEC. 806. PRICE SUPPORT PROGRAM. The Agricultural Act of 1949 is amended— (1) by repealing sections 108 and 108A (7 U.S.C. 1445c and 1445C-1); (2) by redesignating section 108B (7 U.S.C. 1445c-2) as section 108A;and (3) by inserting after section 108A (as so redesignated) the following new section: "SEC. 108B. PRICE SUPPORT PROGRAM FOR 1991 THROUGH 1995 CROPS OF 7 USC 1445c-3. PEANUTS. "(a) QUOTA PEANUTS.— "(1) IN GENERAL.—The Secretary shall make price support available to producers through loans, purchases, and other operations on quota peanuts for each of the 1991 through 1995 crops. "(2) SUPPORT RATES. —The national avergige quota support rate for each of the 1991 through 1995 crops of quota peanuts shall be the national average quota support rate for the immediately preceding crop, adjusted to reflect any increase, during the calendar year immediately preceding the marketing year for the crop for which a level of support is being determined, in the national average cost of peanut production, excluding any change in the cost of land, except that in no event shall the national average quota support rate for any such crop exceed by more than 5 percent the national average quota support rate for the preceding crop. "(3) INSPECTION, HANDLING, OR STORAGE.— The levels of support so announced shall not be reduced by any deductions for inspection, handling, or storage. "(4) LOCATION AND OTHER FACTORS.—The Secretary may make adjustments for location of peanuts and such other factors as are authorized by section 403. "(5) ANNOUNCEMENT.—The Secretary shall announce the level of support for quota peanuts of each crop not later than February 15 preceding the marketing year for the crop for which the level of support is being determined. "(b) ADDITIONAL PEANUTS.— "(1) IN GENERAL.—The Secretary shall make price support available to producers through loans, purchases, or other operations on additional peanuts for each of the 1991 through 1995 crops at such levels as the Secretary finds appropriate, taking into consideration the demand for peanut oil and peanut meal, expected prices of other vegetable oils and protein meals, and the demand for peanuts in foreign markets, except that the Secretary shall set the support rate on additional peanuts at a level estimated by the Secretary to ensure that there are no losses to the Commodity Credit Corporation on the sale or disposal of the peanuts. "(2) ANNOUNCEMENT.— The Secretary shall announce the level of support for additional peanuts of each crop not later than February 15 preceding the marketing year for the crop for which the level of support is being determined. "(c) AREA MARKETING ASSOCIATIONS. — " (1) WAREHOUSE STORAGE LOANS.— "(A) IN GENERAL. — In carrying out subsections (a) and (b), the Secretary shall make warehouse storage loans available

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