Page:United States Statutes at Large Volume 122.djvu/1700

 12 2 STA T . 1 67 7 PUBLIC LA W 11 0– 2 4 6 —J U NE 1 8, 2008 (2)thena t io na l a v e r a g e m ar k et p ri c e f or the crop y ear for the covere d commodity or pean u t s determined under su b- section (c)( 3 ) . (f) FARMACREBENCH MAR K RE V EN U E. — For purposes of sub- section (b)(2)(B)(ii) , the farm ACRE benchmark revenue for the crop year for a covered commodity or peanuts shall e q ual the sum obtained by adding— ( 1 ) the amount determined by multiplying— (A) the average yield per planted acre for the covered commodity or peanuts of the producers on the farm for the most recent 5 crop years, e x cluding each of the crop years w ith the highest and lowest yields and (B) the ACRE program guarantee price for the applicable crop year for the covered commodity or peanuts ina S tate determined under subsection (d)(3); and (2) the amount of the per acre crop insurance premium required to be paid by the producers on the farm for the applicable crop year for the covered commodity or peanuts on the farm. (g) P A Y MEN T AM O UNT.— I f ACRE payments are required to bepaidforanyofthe2 0 0 9 through 2012 crop years of a covered commodity or peanuts under this section, the amount of the ACRE payment to be paid to the producers on the farm for the crop year under this section shall be equal to the product obtained by multiplying— (1) the lesser of— (A) the difference between— (i) the ACRE program guarantee for the crop year for the covered commodity or peanuts in the State determined under subsection (d); and (ii) the actual State revenue from the crop year for the covered commodity or peanuts in the State determined under subsection (c); and (B) 25 percent of the ACRE program guarantee for the crop year for the covered commodity or peanuts in the State determined under subsection (d); (2)(A) for each of the 2009 through 2011 crop years, 8 3.3 percent of the acreage planted or considered planted to the covered commodity or peanuts for harvest on the farm in the crop year; and (B) for the 2012 crop year, 85 percent of the acreage planted or considered planted to the covered commodity or peanuts for harvest on the farm in the crop year; and (3) the quotient obtained by dividing— (A) the average yield per planted acre for the covered commodity or peanuts of the producers on the farm for the most recent 5 crop years, excluding each of the crop years with the highest and lowest yields; by (B) the benchmark State yield for the crop year, as determined under subsection (d)(2). SEC.1 1 06 . PRODU CER AG REE M E NT RE Q U I RED AS CONDITION O F PRO V ISION OF PA Y MENTS. (a) COM PLI ANCE W ITH CERTAIN RE Q UIREMENT S .— (1) REQUIREMENTS.—Before the producers on a farm may receive direct payments, counter-cyclical payments, or average crop revenue election payments with respect to the farm, the 7USC8 7 16.

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