Page:United States Statutes at Large Volume 104 Part 5.djvu/182

 104 STAT. 3504 PUBLIC LAW 101-624-NOV. 28, 1990 "(A) repayment of the extended price support loan 27 months from the date on which the original loan expired unless, at the discretion of the Secretary, the loan has been extended for one 6-month period; "(B) a rate of interest as provided under subsection (c); and "(C) payments to producers for storage as provided in subsection (d). "(4) REGIONAL DIFFERENCES. — The Secretary shall ensure that producers are afforded a fair and equitable opportunity to participate in the program established under this section, taking into account regional differences in the time of harvest. " (c) INTEREST CHARGES. — "(1) LEVYING OF INTEREST. —The Secretary may charge interest on loans under this section whenever the price of wheat or feed grains is equal to or exceeds 105 percent of the then current established price for the commodity. "(2) 90-DAY PERIOD.— If interest is levied on the loans under paragraph (1), the interest may be charged for a period of 90 days after the last day on which the price of wheat or feed grains was equal to or in excess of 105 percent of the established price for the commodities. "(3) RATE OF INTEREST. —The rate of interest charged participants in this program shall not be less than the rate of interest charged by the (Commodity Credit Corporation by the United States Treasury, except that the Secretary may waive or adjust the interest as the Secretary considers appropriate to effectuate the purposes of this section. "(d) STORAGE PAYMENTS. — "(1) IN GENERAL.—The Secretary shall provide storage pay- ments to producers for storeige of wheat or feed grains under the program established in this section in such amounts and under such conditions as the Secretary determines appropriate to encourage producers to participate in the program. "(2) TIMING. — The Secretary shall make storage payments available to participants in this program at the end of each quarter. "(3) DURATION.—The Secretary shall cease making storage payments whenever the price of wheat or feed grains is equal to or exceeds 95 percent of the then current established price for the commodities, and for any 90-day period immediately following the last day on which the price of wheat or feed grains was equal to or in excess of 95 percent of the then current established price for the commodities. "(e) EMERGENCIES. —Notwithstanding any other provision of law, the Secretary may require producers to repay loans made under this section, plus accrued interest and such other charges as may be required by regulation prior to the maturity date thereof, if the Secretary determines that emergency conditions exist that require that the commodity be made available in the market to meet urgent domestic or international needs and the Secretary reports the determination and the reasons for the determination to the President, the Committee on Agriculture of the House of Representatives, and the Committee on Agriculture, Nutrition, and Forestry of the Senate at least 14 days before taking the action.

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