Page:United States Statutes at Large Volume 110 Part 1.djvu/925

 PUBLIC LAW 104-127—APR. 4, 1996 110 STAT. 901 (c) ADJUSTMENT.—The Secretary shall adjust the amounts allocated for each contract commodity under subsection (b) for a particular fiscal year by— (1) adding an amount equal to the sum of all repayments of deficiency payments required under section 114(a)(2) of the Agricultural Act of 1949 (7 U.S.C. 1445j(a)(2)) for the commodity; (2) adding an amount equal to the sum of all refunds of contract payments received during the preceding fiscal year under section 116 for the commodity; and (3) subtracting an amount equal to the amount, if any, necessary during that fiscal year to satisfy payment requirements for the commodity under sections 103B, 105B, or 107B of the Agricultural Act of 1949 for the 1994 and 1995 crop years. (d) ADDITIONAL RICE ALLOCATION.—In addition to the adjustments required under subsection (c), the amount allocated under subsection (b) for rice contract payments shall be increased by $8,500,000 for each of fiscal years 1997 through 2002. (e) EXCLUSION OF CERTAIN AMOUNTS FROM CONTRACT PAY- MENTS.— Any amount added pursuant to paragraphs (1) and (2) of subsection (c) to the amount available under subsection (a) for a fiscal year and paid to owners and producers under a contract shall not be treated as a contract payment for purposes of section 115(a) of this title or section 1001(1) of the Food Security Act of 1985 (7 U.S.C. 1308(1)). However, the amount of a payment covered by this subsection may not exceed $50,000 per person. (f) EFFECT OF PAYMENT LIMITATION.— The amount available under subsection (a) for a fiscal year shall be reduced by an amount equal to the total amount of contract payments for the fiscal year that owners and producers forgo as a result of operation of the payment limitation under section 1001(1) of the Food Security Act of 1985 (7 U.S.C. 1308(1)). SEC. 114. DETERMINATION OF CONTRACT PAYMENTS UNDER CON- 7 USC 7214. TRACTS. (a) INDIVIDUAL PAYMENT QUANTITY OF CONTRACT COMMOD- ITIES.—For each contract, the payment quantity of a contract commodity for each fiscal year shall be equal to the product of— (1) 85 percent of the contract acreage; and (2) the farm program payment yield. (b) ANNUAL PAYMENT QUANTITY OF CONTRACT COMMODITIES. — The payment quantity of each contract commodity covered by all contracts for each fiscal year shall be equal to the sum of the amounts calculated under subsection (a) for each individual contract. (c) ANNUAL PAYMENT RATE. —The payment rate for a contract commodity for each fiscal year shall be equal to— (1) the amount made available under section 113 for the contract commodity for the fiscal year; divided by (2) the amount determined under subsection (b) for the fiscal year. (d) ANNUAL PAYMENT AMOUNT. — The amount to be paid under a contract in effect for each fiscal year with respect to all contract commodities covered by the contract shall be equal to the sum of the products of—

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