Page:United States Statutes at Large Volume 122.djvu/1043

 12 2 STA T . 1 0 20 PUBLIC LA W 110 – 2 34—M A Y 22, 200 8ofthepr o duc er s to co n tro lF us a r i u m head b li g ht (w heat scab ) on acres certified to ha v e been planted to D urum wheat in a crop y ear . (b) INSUF F IC I E N T FUN D S. — If the total amount of funds appro - priated for a fiscal year under subsection (c) are insufficient to fulfill all eligible re q uests for compensation under this section , the S ecretary shall prorate the compensation payments in a manner determined by the Secretary to be equitable. (c) A UT HOR I ZA TION OF A P PROPRIATIONS.— T here is authori z ed to be appropriated to carry out this section $10 ,000,000 for each of fiscal years 2 00 9 through 2012. SEC.16 1 4 .S TORAG E F AC IL IT Y LOA N S. (a) IN G ENERA L .—As soon as practicable after the date of enact- ment of this Act, the Secretary shall establish a storage facility loan program to provide funds for producers of grains, oilseeds, pulse crops, hay, renewable biomass, and other storable commod- ities (other than sugar), as determined by the Secretary, to construct or upgrade storage and handling facilities for the commodities. (b) E LI G I B LE P RODUCERS.—A storage facility loan under this section shall be made available to any producer described in sub- section (a) that, as determined by the Secretary— (1) has a satisfactory credit history (2) has a need for increased storage capacity; and ( 3 ) demonstrates an ability to repay the loan. (c) TER M OF L OANS.—A storage facility loan under this section shall have a ma x imum term of 12 years. (d) LOAN AMOUNT.—The maximum principal amount of a stor- age facility loan under this section shall be $ 5 00,000. (e) LOAN DISBURSEMENTS.—The Secretary shall provide for 1 partial disbursement of loan principal and 1 final disbursement of loan principal, as determined to be appropriate and sub j ect to acceptable documentation, to facilitate the purchase and construc- tion of eligible facilities. (f) LOAN SECURIT Y .—Approval of a storage facility loan under this section shall— (1) require the borrower to provide loan security to the Secretary, in the form of— (A) a lien on the real estate parcel on which the storage facility is located; or ( B ) such other security as is acceptable to the Sec- retary; (2) under such rules and regulations as the Secretary may prescribe, not require a severance agreement from the holder of any prior lien on the real estate parcel on which the storage facility is located, if the borrower— (A) agrees to increase the down payment on the storage facility by an amount determined appropriate by the Sec- retary; or (B) provides other security acceptable to the Secretary; and (3) allow a borrower, upon the approval of the Secretary, to define a subparcel of real estate as security for the storage facility loan if the subparcel is— (A) of adequate size and value to adequately secure the loan; and 7USC8 78 9.

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