Page:United States Statutes at Large Volume 116 Part 1.djvu/185

 PUBLIC LAW 107-171—MAY 13, 2002 116 STAT. 159 (2) UNSHORN PELTS. —In the case of unshorn pelts, the payment rate shall be the amount by which— (A) the loan rate established under section 1202 for ungraded wool; exceeds (B) the rate at which a marketing assistance loan for ungraded wool may be repaid under section 1204. (3) HAY AND SILAGE.— In the case of hay or silage derived from a loan commodity, the payment rate shall be the amount by which— (A) the loan rate established under section 1202 for the loan commodity from which the hay or silage is derived; exceeds (B) the rate at which a marketing assistance loan for the loan commodity may be repaid under section 1204. (d) EXCEPTION FOR EXTRA LONG STAPLE COTTON. —T h is section shall not apply with respect to extra long staple cotton. (e) EFFECTIVE DATE FOR PAYMENT RATE DETERMINATION. —The Secretary shall determine the amount of the loan deficiency pay- ment to be made under this section to the producers on a farm with respect to a quantity of a loan commodity or commodity referred to in subsection (a)(2) using the payment rate in effect under subsection (c) as of the date the producers request the pay- ment. (f) SPECIAL LOAN DEFICIENCY PAYMENT RULES.— (1) FIRST-TIME LOAN COMMODITIES.—For the 2002 crop of wool, mohair, honey, dry peas, lentils and small chickpeas, in the case of producers of such a crop that would be eligible for a loan deficiency payment under this section except for the fact that the producers lost beneficial interest in the crop prior to the date of publication of the regulations implementing this section, the producers shall be eligible for a loan deficiency payment as of the date producers marketed or otherwise lost beneficial interest in the crop, as determined by the Secretary. (2) 2001 CROP YEAR. —Section 135 of the Federal Agriculture Improvement and Reform Act of 1996 (7 U.S.C. 7235) is amended— (A) in subsection (a)(2), by striking "2000 crop year" and inserting "2000 and 2001 crop years"; and (B) by adding at the end the following: " (g) EFFECTIVE DATE FOR PAYMENT RATE DETERMINATION.— For the 2001 crop year, the Secretary shall determine the amount of the loan deficiency payment to be made under this section to the producers on a farm with respect to a quantity of a loan commodity using the payment rate in effect under subsection (c) as of the earlier of the following: "(1) The date on which the producers marketed or otherwise lost beneficial interest in the crop of the loan commodity, as determined by the Secretary. "(2) The date the producers requested the payment.". SEC. 1206, PAYMENTS IN LIEU OF LOAN DEFICIENCY PAYMENTS FOR 7 USC 7936. GRAZED ACREAGE. (a) ELIGIBLE PRODUCERS.^— (1) IN GENERAL.— Effective for the 2002 through 2007 crop years, in the case of a producer that would be eligible for a loan deficiency payment under section 1205 for wheat, barley, or oats, but that elects to use acreage planted to the wheat.

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