Page:United States Statutes at Large Volume 122.djvu/2160

 12 2 STA T . 21 37PUBLIC LA W 11 0– 2 46—J U NE 1 8, 2008 ‘ ‘ (c c )1shal l be a n ec o no mi s t nominate d b y the gr ain sorgh u m industry . ‘‘(iii) RECOM ME NDATI ON S . — ‘‘( I )IN G ENE R A L .— N ot later than 90 days a f ter the date of contracting w ith the e xp ert re v iewers under clause (ii) , the expert reviewers shall submit, and the C orporation shall ma k e available to the public, the recommendations of the expert reviewers. ‘‘(II) CONSIDERATION.— T he Corporation shall consider the recommendations under subclause (I) when determining the appropriate pricing method - ology to determine the expected market price for grain sorghum under both the production and rev- enue-based plans of insurance. ‘‘(III) PUB LICATION.—Not later than 6 0 days after the date on which the Corporation receives the recommendations of the expert reviewers, the Corporation shall publish the proposed pricing methodology for both the production and revenue- based plans of insurance for notice and comment and, during the comment period, conduct at least 1 public meeting to discuss the proposed pricing methodologies. ‘‘(iv) AP PROPRIATE PRICING MET H ODOLOG Y .— ‘‘(I) IN GENERAL.—Not later than 1 8 0 days after the close of the comment period in clause (iii)(III), but effective not later than the 2 010 crop year, the Corporation shall implement a pricing methodology for grain sorghum under the produc- tion and revenue-based plans of insurance that is transparent and replicable. ‘‘(II) INTERIM METHODOLOGY.— U ntil the date on which the new pricing methodology is imple- mented, the Corporation may continue to use the pricing methodology that the Corporation deter- mines best establishes the expected market price. ‘‘(III) A V AILABILITY.— O n an annual basis, the Corporation shall make available the pricing meth- odology and data used to determine the expected market prices for grain sorghum under the produc- tion and revenue-based plans of insurance, including any changes to the methodology used to determine the expected market prices for grain sorghum from the previous year. ’ ’. SEC.120 10. PR E MIU MRE D UC T I ONA UT H ORIT Y . S ubsection 5 08(e) of the F ederal Crop Insurance Act ( 7 U.S.C. 1508(e)) is amended— (1) in paragraph (2), by striking ‘‘paragraph ( 4 )’’ and inserting ‘‘paragraph ( 3 )’’ (2) by striking paragraph (3); and (3) by redesignating paragraphs (4) and (5) as paragraphs (3) and (4), respectively.

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