Page:United States Statutes at Large Volume 122.djvu/1741

 12 2 STA T . 1 7 1 8PUBLIC LA W 11 0– 2 46—J U NE 18, 2008 ‘ ‘ (b)TRANSIT I O N .— T heS e cr e ta r ys ha l la dmin ister f le x ible mar -k etin g all o tments for s u gar for the 20 0 7 cro p year for sugar on the terms and conditions pro v ided in this part as in effect on the day before the date of enactment of this section. ’ ’. SEC.140 4.S TORAG E F AC IL IT Y LOA N S. Section 14 02(c) of the F arm Security and R ural I nvestment A ct of 2002 (7 U .S. C .7 9 71(c)) is amended— (1) in paragraph (1) , by striking ‘‘and’’ at the end (2) by redesignating paragraph (2) as paragraph ( 3 ); (3) by inserting after paragraph (1) the follo w ing

‘‘(2) not include any penalty for prepayment; and’’; and (4) in paragraph (3) (as redesignated by paragraph (2)), by inserting ‘‘other’’ after ‘‘on such’’. SEC. 140 5 .CO M MO D ITY CREDIT COR P ORATION STORAGE PAYMENTS. Subtitle E of the Federal Agriculture Improvement and Reform Act of 199 6 (7 U.S.C. 72 8 1etse q .) is amended by adding at the end the following: ‘ ‘SEC. 1 67 . COMMODITY CREDIT CORPORATION STORAGE PAYMENTS. ‘‘(a) INITIA L CRO PYE ARS.— N otwithstanding any other provision of law, for each of the 2008 through 2011 crop years, the Commodity Credit Corporation shall establish rates for the storage of forfeited sugar in an amount that is not less than— ‘‘(1) in the case of refined sugar, 1 5 cents per hundred- weight of refined sugar per month; and ‘‘(2) in the case of raw cane sugar, 10 cents per hundred- weight of raw cane sugar per month. ‘‘(b) S UB SE Q UENT CROP YEARS.—For each of the 2012 and subse- quent crop years, the Commodity Credit Corporation shall establish rates for the storage of forfeited sugar in the same manner as was used on the day before the date of enactment of this section.’’. Subti t leE—Da i ry SEC. 1501. DAIRY PROD U CT PRICE SUPPORT PROGRAM. (a) D E F INITION OF NET RE M O V ALS.—In this section, the term ‘‘net removals’’ means— (1) the sum of— (A) the quantity of a product described in subsection (b) purchased by the Commodity Credit Corporation under this section; and ( B ) the quantity of the product exported under section 153 of the Food Security Act of 1985 (15 U.S.C. 713a – 14); less (2) the quantity of the product sold for unrestricted use by the Commodity Credit Corporation. (b) SUPPORT A C TIVITIES.—During the period beginning on J anuary 1, 2008, and ending December 31, 2012, the Secretary shall support the price of cheddar cheese, butter, and nonfat dry milk through the purchase of such products made from milk pro- duced in the United States. (c) P URC H ASE PRICE.—To carry out subsection (b) during the period specified in that subsection, the Secretary shall purchase— (1) cheddar cheese in blocks at not less than $ 1.13 per pound; Timep e r i od.7USC8 77 1 . 7USC7 2 87.

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