Page:United States Statutes at Large Volume 55 Part 1.djvu/116

 77TH CONG. , lST SESS.-CH. 39-APR. 3 ,1941 delivered under this subsection, producers shall be paid for the por- tion of the lot constituting excess peanuts the market value thereof for crushing for oil as of the date of such delivery, less the esti- mated cost of storing, handling, and selling such peanuts. Any person who acquires peanuts for crushing for oil under the provi- sions of this subsection, and who uses or disposes of such peanuts for purposes other than for crushing into oil, shall pay a penalty of 3 cents per pound upon the peanuts so used or disposed of and shall be guilty of a misdemeanor and upon conviction thereof shall be fined not more than $1,000 or imprisoned for not more than one year, or both. Operations under this subsection shall be carried on under regulations prescribed by the Secretary, and the operations of any agency designated to receive and market peanuts may be separate from or combined with operations of other agencies. "(c) The provisions of this part shall not apply to peanuts pro- duced on any farm on which the acreage harvested for nuts is one acre or less. "(d) The word 'peanuts' wherever used in this Act means peanuts which are picked and threshed by mechanical means, whether such peanuts are picked and threshed before or after marketing by the producer. "(e) If, in any referendum carried out pursuant to subsection (b) of section 358, marketing quotas with respect to peanuts are opposed by more than one-third of the farmers voting in such refer- endum, no peanut-diversion program or peanut loan shall be in effect with respect to the crop produced in the calendar year immediately following that in which the referendum is held. If quotas are approved by not less than two-thirds of the farmers voting in such referendum, either a peanut-diversion program or a peanut-loan program, or both, shall be in effect with respect to the crops of pea- nuts produced in the three calendar years immediately following the year in which the referendum is held. The Commodity Credit Cor- poration is directed to make available loans upon peanuts during any marketing year in which marketing quotas are in effect. Such loans shall be made only to producers 2 farmer cooperatives, and farmer associations, only on the marketing quota for each farm, at rates not less than 50 per centum and not more than 75 per centum of the parity price of peanuts as of the beginning of the marketing year (which parity price shall be on the basis of the formula used in deter- mining the parity price of peanuts as published by the Bureau of Agricultural Economics in The Agricultural Situation, volume 25, number 1, January 1941), and the peanuts shall be the sole security for such loans. If a referendum is held in 1941 with respect to the crop produced in 1941, the provisions of this subsection shall apply as though such referendum had been held in the calendar year 1940. "(f) There is hereby authorized to be appropriated, each fiscal year beginning with the fiscal year 1941, out of any moneys in the Treasury not otherwise appropriated, such sums as may be necessary for the purposes set forth in this part and for the expenses of administering this part. "(g) The provisions of this section shall not apply to nor interfere with the inauguration or the operation of any program approved by the Secretary pursuant to authority contained in existing law designed to establish new uses for peanuts and peanut products or expand markets for peanuts and peanut products." SEC. 2 . Paragraph (1) (B) of subsection (b) of section 301 of subtitle A of title III of the Agricultural Adjustment Act of 1938, as amended, is amended by inserting immediately following the word "cotton" the words "or peanuts". Penalty for unau- thorized use. One-acre harvests. "Peanuts" defined. Diversion and loan programs. Commodity Credit Corporation loans. Annual appropria- tion authorized. New uses and mar- kets. Definitions. "Actual produc- tion." 52 Stat. 39 . 7 U. S.0. o 1301 (b) (1) (B). 55 STAT.]

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