Page:United States Statutes at Large Volume 122.djvu/999

 12 2 STA T .976PUBLIC LA W 11 0– 2 34—M A Y 22, 200 8(i ii )m i n imi zeth e cos t inc ur re dby the F eder alG o v ernment in storin gp eanuts and (iv) allo w peanuts produced in the U nited S tates to be mar k eted f reely and competitively , both domesti - cally and internationally . ( 2 ) AUTHORI T Y TOT EMP OR A RI L YA DJ U S T REPAYME N T RATES. — (A) ADJUSTMENT AUTHORITY.— I n the event of a severe disruption to marketing, transportation, or related infra- structure, the Secretary may modify the repayment rate otherwise applicable under this subsection for marketing assistance loans for peanuts under subsection (a). ( B ) D URATION.—An ad j ustment made under subpara- graph (A) in the repayment rate for marketing assistance loans for peanuts shall be in effect on a short-term and temporary basis, as determined by the Secretary. (e) L OAN DE F I C IENCY P AYMENTS.— ( 1 )A V AILA B ILITY.— T he Secretary may make loan deficiency payments available to producers on a farm that, although eligible to obtain a marketing assistance loan for peanuts under subsection (a), agree to forgo obtaining the loan for the peanuts in return for loan deficiency payments under this subsection. (2) C OMPUTATION.—A loan deficiency payment under this subsection shall be computed by multiplying— (A) the payment rate determined under paragraph ( 3 ) for peanuts; by (B) the q uantity of the peanuts produced by the pro- ducers, e x cluding any quantity for which the producers obtain a marketing assistance loan under subsection (a). (3) PAYMENT RATE.—For purposes of this subsection, the payment rate shall be the amount by which— (A) the loan rate established under subsection (b); exceeds (B) the rate at which a loan may be repaid under subsection (d). ( 4 ) E FFECTIVE DATE FOR PAYMENT RATE DETERMINATION.— The Secretary shall determine the amount of the loan deficiency payment to be made under this subsection to the producers on a farm with respect to a quantity of peanuts using the payment rate in effect under paragraph (3) as of the date the producers request the payment. (f) COMPLIANCE W ITH CONSERVATION AND WETLANDS R E Q UIRE- MENTS.—As a condition of the receipt of a marketing assistance loan under subsection (a), the producer shall comply with applicable conservation requirements under subtitle B of title X II of the Food Security Act of 1 985 (1 6 U.S.C. 3811 et seq.) and applicable wetland protection requirements under subtitle C of title XII of that Act (16 U.S.C. 3821 et seq.) during the term of the loan. (g) REIMBURSABLE A G REEMENTS AND PAYMENT OF ADMINISTRA- TIVE E X PENSES.—The Secretary may implement any reimbursable agreements or provide for the payment of administrative expenses under this subtitle only in a manner that is consistent with such activities in regard to other commodities.

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