Page:United States Statutes at Large Volume 110 Part 1.djvu/924

 110 STAT. 900 PUBLIC LAW 104-127—APR. 4, 1996 may elect to receive either contract payments or a prorated pa3ntnent under the conservation reserve contract, but not both. (b) DURATION OF CONTRACT.— (1) BEGINNING DATE.— The term of a contract shall begin with— (A) the 1996 crop of a contract commodity; or (B) in the case of acreage that was subject to a conservation reserve contract described in subsection (a)(3), the date the production flexibility contract was entered into or expanded to cover the acreage. (2) ENDING DATE.— The term of a contract shall extend through the 2002 crop, unless earlier terminated by the owner or producer. (c) ESTIMATION OF CONTRACT PAYMENTS. —At the time the Secretary enters into a contract, the Secretary shall provide an estimate of the minimum contract payments anticipated to be made during at least the first fiscal year for which contract payments will be made. (d) TIME FOR PAYMENT.— (1) IN GENERAL.—An annual contract payment shall be made not later than September 30 of each of fiscal years 1996 through 2002. (2) ADVANCE PAYMENTS. — (A) FISCAL YEAR 1996.—At the option of the owner or producer, 50 percent of the contract payment for fiscal year 1996 shall be made not later than 30 days after the date on which the contract is entered into and approved by the Secretary and the owner or producer. (B) SUBSEQUENT FISCAL YEARS.—At the option of the owner or producer for fiscal year 1997 and each subsequent fiscal year, 50 percent of the annual contract payment shall be made on December 15 or January 15 of the fiscal year. The owner or producer may change the date selected under this subparagraph for a subsequent fiscal year by providing advance notice to the Secretary. 7 USC 7213. SEC. 113. AMOUNTS AVAILABLE FOR CONTRACT PAYMENTS. (a) FISCAL YEAR AMOUNTS. — The Secretary shall, to the maximum extent practicable, expend the following amounts to satisfy the obligations of the Secretary under all contracts: (1) For fiscal year 1996, $5,570,000,000. (2) For fiscal year 1997, $5,385,000,000. (3) For fiscal year 1998, $5,800,000,000. (4) For fiscal year 1999, $5,603,000,000. (5) For fiscal year 2000, $5,130,000,000. (6) For fiscal year 2001, $4,130,000,000. (7) For fiscal year 2002, $4,008,000,000. (b) ALLOCATION.—The amount made available for a fiscal year under subsection (a) shall be allocated as follows: (1) For wheat, 26.26 percent. (2) For corn, 46.22 percent. (3) For grain sorghum, 5.11 percent. (4) For barley, 2.16 percent. (5) For oats, 0.15 percent. (6) For upland cotton, 11.63 percent. (7) For rice, 8.47 percent.

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