Page:United States Statutes at Large Volume 116 Part 1.djvu/177

 PUBLIC LAW 107-171—MAY 13, 2002 116 STAT. 151 (1) The payment rate specified in subsection (d). (2) The payment acres of the covered commodity on the farm. (3) The payment yield or updated payment yield for the farm, depending on the election of the owner of the farm under section 1102. (f) TIME FOR PAYMENTS.— (1) GENERAL RULE.— If the Secretary determines under subsection (a) that counter-cyclical payments are required to be made under this section for the crop of a covered commodity, the Secretary shall make the counter-cyclical payments for the crop as soon as practicable after the end of the 12-month marketing year for the covered commodity. (2) AVAILABILITY OF PARTIAL PAYMENTS. — If, before the end of the 12-month marketing year for a covered commodity, the Secretary estimates that counter-cyclical payments will be required for the crop of the covered commodity, the Secretary shall give producers on a farm the option to receive partial payments of the counter-cyclical payment projected to be made for that crop of the covered commodity. (3) TIME FOR PARTIAL PAYMENTS. — (A) 2002 THROUGH 2006 CROP YEARS. —When the Secretary makes partial payments available under paragraph (2) for a covered commodity for any of the 2002 through 2006 crop years— (i) the first partial payment for the crop year shall be made not earlier than October 1, and, to the maximum extent practicable, not later than October 31, of the calendar year in which the crop of the covered commodity is harvested; (ii) the second partial payment shall be made not earlier than February 1 of the next calendar year; and (iii) the final partial payment shall be made as soon as practicable after the end of the 12-month marketing year for the covered commodity. (B) 2007 CROP YEAR.— When the Secretary makes partial payments available for a covered commodity for the 2007 crop year— (i) the first partial payment shall be made after completion of the first 6 months of the marketing year for the covered commodity; and (ii) the final partial payment shall be niade as soon as practicable after the end of the 12-month marketing year for the covered commodity. (4) AMOUNT OF PARTIAL PAYMENTS. — (A) 2002 THROUGH 2006 CROP YEARS.— (i) FIRST PARTL\L PAYMENT.—For each of the 2002 through 2006 crop years of a covered commodity, the first partial pa3Tnent under paragraph (3) to the producers on a farm may not exceed 35 percent of the projected counter-cyclical payment for the covered commodity for the crop year, as determined by the Secretary. (ii) SECOND PARTIAL PAYMENT.—The second partial payment for a covered commodity for a crop year may not exceed the difference between—

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