Page:United States Statutes at Large Volume 122.djvu/1709

 12 2 STA T . 1 68 6 PUBLIC LA W 11 0– 2 4 6 —J U NE 18, 2008 (iv)ensur e a na p pr o pria t e transition b et w een c ur - rent-crop an df orward-crop price q uotations , e x cept t h at the S ecretar ym ay use forward-crop price quotations prior to J u l y 31 ofamar k etin g year only if — ( I ) there are insufficient current-crop price quotations and (II) the forward-crop price quotation is the lowest such quotation available . (3) GUIDEL I N E SFORA DDI T IONAL AD J UST M ENTS.—In making ad j ustments under this subsection, the Secretary shall establish a mechanism for determining and announcing the adjustments in order to avoid undue disruption in the U nited States market. (f) R E P A Y MENT RATES FOR C ONFE C TIONERY AND O T H ER K INDS OF SUNFLO W ER SEEDS.— T he Secretary shall permit the producers on a farm to repay a marketing assistance loan under section 1 20 1 for confectionery and each other kind of sunflower seed (other than oil sunflower seed) at a rate that is the lesser of— (1) the loan rate established for the commodity under sec- tion 1202, plus interest (determined in accordance with section 1 6 3of the F ederal A griculture Improvement and Reform Act of1 9 96( 7 U.S.C. 72 8 3)); or (2) the repayment rate established for oil sunflower seed. (g) P AYMENT OF COTTON STORA G E COSTS.— (1) 2008 THROUGH 201 1 CROP YEARS.— E ffective for each of the 2008 through 2011 crop years, the Secretary shall provide cotton storage payments in the same manner, and at the same rates as the Secretary provided storage payments for the 2006 crop of cotton, except that the rates shall be reduced by 10 percent. (2) SU B SE Q UENT CROP YEARS.— B eginning with the 2012 crop year, the Secretary shall provide cotton storage payments in the same manner, and at the same rates as the Secretary provided storage payments for the 2006 crop of cotton, except that the rates shall be reduced by 20 percent. (h) AUTHORITY TO TEMPORARILY ADJUST REPAYMENT RATES.— (1) ADJUSTMENT AUTHORITY.—In the event of a severe disruption to marketing, transportation, or related infrastruc- ture, the Secretary may modify the repayment rate otherwise applicable under this section for marketing assistance loans under section 1201 for a loan commodity. (2) D URATION.—Any adjustment made under paragraph (1) in the repayment rate for marketing assistance loans for a loan commodity shall be in effect on a short-term and temporary basis, as determined by the Secretary. SEC.1205 . LOAND E FI CIENC YP AY M EN T S. (a) A V AILABILITY OF L OAN DEFICIENCY PAYMENTS.— (1) IN GENERAL.—Except as provided in subsection (d), the Secretary may make loan deficiency payments available to pro- ducers on a farm that, although eligible to obtain a marketing assistance loan under section 1201 with respect to a loan com- modity, agree to forgo obtaining the loan for the commodity in return for loan deficiency payments under this section. (2) UNSHORN PELTS, HAY, AND SILAGE.— (A) M AR K ETING ASSISTANCE LOANS.—Subject to subparagraph (B), nongraded wool in the form of unshorn 7USC8 7 35.

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