Page:United States Statutes at Large Volume 110 Part 1.djvu/937

 PUBLIC LAW 104-127—APR. 4, 1996 110 STAT. 913 Secretary, to producers on a farm containing eligible cropland covered by a production flexibility contract who— (A) normally harvest all or a portion of their crop of com or grain sorghum in a high moisture state; (B) present— (i) certified scale tickets from an inspected, certified commercial scale, including a licensed warehouse, feedlot, feed mill, distillery, or other similar entity approved by the Secretary, pursuant to regulations issued by the Secretary; or (ii) field or other physical measurements of the standing or stored crop in regions of the United States, as determined by the Secretary, that do not have certified commercial scales from which certified scale tickets may be obtained within reasonable proximity of harvest operation; (C) certify that they were the owners of the feed grain at the time of delivery to, and that the quantity to be placed under loan under this subsection was in fact harvested on the farm and delivered to, a feedlot, feed mill, or commercial or on-farm high-moisture storage facility, or to a facility maintained by the users of com and grain sorghum in a high moisture state; and (D) comply with deadlines established by the Secretary for harvesting the com or grain sorghum and submit applications for loans under this subsection within deadlines established by the Secretary. (2) ELIGIBILITY OF ACQUIRED FEED GRAINS. — A loan under this subsection shall be made on a quantity of com or grain sorghum of the same crop acquired by the producer equivalent to a quantity determined by multiplying— (A) the acreage of the corn or grain sorghum in a high moisture state harvested on the producer's farm; by (B) the lower of the farm program payment yield or the actual yield on a field, as determined by the Secretary, that is similar to the field from which the com or grain sorghum was obtained. (3) HIGH MOISTURE STATE DEFINED.— In this subsection, the term "high moisture state" means com or grain sorghum having a moisture content in excess of Commodity Credit Corporation standards for marketing assistance loans made by the Secretary under section 131. (b) RECOURSE LOANS AVAILABLE FOR SEED COTTON. — (1) UPLAND COITON. — For each of the 1996 through 2002 crops of upland cotton, the Secretary shall make available recourse seed cotton loans, as determined by the Secretary, to producers on a farm containing eligible cropland covered by a production flexibility contract. (2) EXTRA LONG STAPLE COTTON.— For each of the 1996 through 2002 crops of extra long staple cotton, the Secretary shall make available recourse seed cotton loans, as determined by the Secretary, on any production. (c) REPAYMENT RATES. — Repayment of a recourse loan made under this section shall be at the loan rate established for the commodity by the Secretary, plus interest (as determined by the Secretary).

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