Page:United States Statutes at Large Volume 122.djvu/1422

 12 2 STA T . 1 39 9 PUBLIC LA W 11 0– 23 4—M A Y 22, 200 8Dofti t leXI Ioft h e F oo dS e cur it yA ct of 1985( 1 6U. S. C . 3 831 et s e q . ) . ‘ ‘( B ) MONTHLYPA Y ME NT R ATE. — ‘‘(i) IN G ENERAL.— Ex ce p t a s pro v ided i n clause (ii) , the pay m ent rate for assistance under this para -g raph for 1 month shall, in the case of drought, b e equal to 6 0 percent of the lesser of— ‘‘(I) the monthly feed cost for all covered live- stoc k o w ned or leased by the eligible livestock producer, as determined under subparagraph (C) or ‘‘(II) the monthly feed cost calculated by using the normal carrying capacity of the eligible gra z ing land of the eligible livestock producer. ‘‘(ii) P ART I AL C OMPEN S ATION.—In the case of an eligible livestock producer that sold or otherwise dis- posed of covered livestock due to drought conditions in1orbothofthe 2 production years immediately preceding the current production year, as determined by the Secretary, the payment rate shall be 80 percent of the payment rate otherwise calculated in accordance with clause (i). ‘‘(C) MONTHLY F EE D COST.— ‘‘(i) IN GENERAL.— T he monthly feed cost shall equal the product obtained by multiplying— ‘‘(I) 30 days; ‘‘(II) a payment quantity that is equal to the feed grain equivalent, as determined under clause (ii); and ‘‘(III) a payment rate that is equal to the corn price per pound, as determined under clause (iii). ‘‘(ii) FEED GRAIN E QU I V ALENT.—For purposes of clause (i)(I), the feed grain equivalent shall equal— ‘‘(I) in the case of an adult beef cow, 15. 7 pounds of corn per day; or ‘‘(II) in the case of any other type of weight of livestock, an amount determined by the Sec- retary that represents the average number of pounds of corn per day necessary to feed the live- stock. ‘‘(iii) CORN PRICE PER POUND.—For purposes of clause (i)(II), the corn price per pound shall equal the quotient obtained by dividing— ‘‘(I) the higher of— ‘‘(aa) the national average corn price per bushel for the 12-month period immediately preceding March 1 of the year for which the disaster assistance is calculated; or ‘‘(bb) the national average corn price per bushel for the 2 4 -month period immediately preceding that March 1; by ‘‘(II) 56. ‘‘(D) N ORMAL GRA Z ING PERIOD AND DROUGHT MONITOR INTENSITY.— ‘‘(i) FSA COUNTY COMMITTEE DETERMINATIONS.— ‘‘(I) IN GENERAL.—The Secretary shall deter- mine the normal carrying capacity and normal

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