Page:United States Statutes at Large Volume 104 Part 5.djvu/99

 PUBLIC LAW 101-624—NOV. 28, 1990 104 STAT. 3421 (iv) a statement of the Secretary's reeisons for the decision described in clause (iii). (B) To PRODUCERS.—The Secretary shall make available to each producer of 1988 or 1989 crop barley, on request, a statement detailing the effect of the calculation of refunds described in paragraph (1) on the producer's 1988 or 1989 refund, (b) DISCRETIONARY USE OF CALCULATION. — (1) IN GENERAL. — The Secretary may use the calculation described in subsection (a) to determine whether or not to reduce the total refund owed by a producer of 1988 or 1989 crop barley under section 107C of the Agricultural Act of 1949 (as it existed immediately before the date of enactment of this Act). (2) PROCEDURE FOR USE OF CALCULATION. —I f the Secretary decides to use the calculation described in subsection (a) as provided under paragraph (1), in the case of a producer of 1988 or 1989 crop barley who paid the refund of the advance deficiency payment for the crop calculated prior to the date of enactment of this Act (or any amount of refund in excess of the gimount of the refund determined in accordance with paragraph (D), the Secretary— (i) shall, before May 31, 1991, reimburse the producer the amount of refund paid by the producer in excess of the refund determined in accordance with this section; (ii) shall have the option to make the reimbursement in a lump sum or in installments; (iii) shall, not later than 90 days after the date of enactment of this Act, notify producers who are eligible to receive the reimbursement of their 1988 or 1989 advance deficiency payment refund under this section— (I) of the timing of the payment of the reimbursement (either in lump sum or in installments); (II) that the amount of the reimbursement shall not bear interest if paid before February 15, 1991; and (III) that the amount of the reimbursement paid after February 15, 1991, shall bear interest at a rate of at least 7 percent per annum; and (iv) may elect to pay the reimbursement in a lump sum with generic certificates redeemable for commodities owned by the Commodity Credit Corporation if the reimbursement is paid in full not later than 60 days after the date of enactment of this Act. TITLE V—COTTON SEC. 501. LOANS, PAYMENTS, AND ACREAGE REDUCTION PROGRAMS FOR THE 1991 THROUGH 1995 CROPS OF UPLAND COTTON. The Agricultural Act of 1949 is amended by inserting after section 103A (7 U.S.C. 1444-1) the following new section: "SEC. 103B. LOANS, PAYMENTS, AND ACREAGE REDUCTION PROGRAMS 7 USC 1444-2. FOR THE 1991 THROUGH 1995 CROPS OF UPLAND COTTON. "(a) LOANS.— "(1) IN GENERAL.— Except as otherwise provided in this subsection, the Secretary shall, on presentation of warehouse receipts or other acceptable evidence of title, as determined by

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