Page:United States Statutes at Large Volume 114 Part 2.djvu/872

 114 STAT. 1549A-58 PUBLIC LAW 106-387—APPENDIX SEC. 817. Section 1232(a)(4) of the Food Security Act of 1985 (16 U.S.C. 3832(a)(4)) is amended— (1) by striking "except that such" and inserting "except that— "(A) such"; (2) by inserting "and" after the semicolon at the end; and (3) by adding at the end the following: "(B) the Secretary shall not terminate the contract for failure to establish approved vegetative or water cover on the land if— "(i) the failure to plant such cover was due to excessive rainfall or flooding; "(ii) the land subject to the contract that could practicably be planted to such cover is planted to such cover; and "(iii) the land on which the owner or operator was unable to plant such cover is planted to such cover after the wet conditions that prevented the planting subsides;". SEC. 818. (a) Section 353(e) of the Consolidated Farm and Rural Development Act (7 U.S.C. 2001(e)) is amended by adding at the end the following: " (7) FINANCING OF RECAPTURE PAYMENT. — "(A) IN GENERAL. — The Secretary may amortize a recapture payment owed to the Secretary under this subsection. "(B) TERM. —The term of an amortization under this paragraph may not exceed 25 years. " (C) INTEREST RATE.— "(i) IN GENERAL.— The interest rate applicable to an amortization under this paragraph may not exceed the rate applicable to a loan to reacquire homestead property less 100 basis points. "(ii) EXISTING AMORTIZATIONS AND LOANS.—The interest rate applicable to an amortization or loan made by the Secretary before the date of enactment of this paragraph to finance a recapture payment owed to the Secretary under this subsection may not exceed the rate applicable to a loan to reacquire homestead property less 100 basis points.". (b) The entire amount necessary to carry out this section shall be available only to the extent that an official budget request for the entire amount, that includes designation of the entire amount of the request as an emergency requirement as defined in the Balanced Budget and Emergency Deficit Control Act of 1985, as amended, is transmitted by the President to the Congress: Provided, That the entire amount is designated by the Congress as an emergency requirement pursuant to section 251(b)(2)(A) of such Act. SEC. 819. The Secretary of Agriculture shall use up to $2,500,000 of the funds of the Commodity Credit Corporation to provide financial assistance to the State of South Carolina to capitalize the South Carolina Grain Dealers Guaranty Fund: Provided, That these funds shall only be available if the State of South Carolina provides an equal amount in the form of a grant to the South Carolina Grain Dealers Guaranty Fund: Provided further. That the entire amount necessary to carry out this section

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