Page:United States Statutes at Large Volume 79.djvu/1232

 1192

7 USC^*i339a

PUBLIC LAW 89-321-NOV. 3, 1965

[79 STAT.

"(3) There are hereby authorized to be appropriated such amounts as may be necessary to enable the Secretary to carry out this section 16(i). " (4) The Secretary shall provide by regulations for the sharing of payments under this subsection among producers on the farm on a fair and equitable basis and in keeping with existing contracts. "(5) Payments in kind shall be made through the issuance of negotiable certificates which the Commodity Credit Corporation shall redeem for feed grains in accordance with regulations prescribed by the Secretary and, notwithstanding any other provision of law, the Commodity Credit Corporation shall, in accordance with regulations prescribed by the Secretary, assist the producer in the marketing of such certificates. Feed grains with which Commodity Credit Corporation redeems certificates pursuant to this paragraph shall be valued at not less than the current support price made available through loans and purchases, plus reasonable carrying charges. "(6) Notwithstanding any other provision of law, the Secretary may, by mutual agreement with the producer, terminate or modify any agreement previously entered into pursuant to this subsection if he determines such action necessary because of an emergency created by drought or other disaster, or in order to prevent or alleviate a shortage in the supply of feed grains." SEC. 303. Section 326 of the Food and Agriculture Act of 1962, as amended, is amended by deleting the language beginning with "the requirements" and ending with "Agricultural Act of 1961, and" and substituting therefor "the requirements of any program under which price support is extended or payments are made to farmers, and price support may be extended or". TITLE IV—COTTON

78 Stat. 173.

63 Stat. 674. 7 USC 1346.

7 USC 1344.

SEC. 401. The Agricultural Adjustment Act of 1938, as amended, is amended as follows: (J) Section 348 of the Act is amended by adding the following new sentences at the end thereof: "The Secretary may extend the period for performance of obligations incurred in connection with payments made for the period ending July 31, 1966, or may make payments on raw cotton in inventory on July 31, 1966, at the rate in effect on such date. No payments shall be made hereunder with respect to 1966 crop cotton." (2) Section 346 of the Act is amended by adding at the end thereof i.

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a new subsection as follows: "(e) Notwithstanding any other provision of this Act, for the 1966, 1967, 1968, and 1969 crops of upland cotton, if the farm operator elects to forgo price support for any such crop of cotton by applying to the county committee of the county in which the farm is located for additional acreage under this subsection, he may plant an acreage not in excess of the farm acreage allotment established under section 344 pi^g ^jj^e acreage apportioned to the farm from the national export market acreage reserve, and all cotton of such crop produced on the farm may be marketed for export free of any penalty under this section: Provided, That the foregoing shall be applicable only to farms which had upland cotton allotments for 1965 and are operated by the same operator as in 1965 or by his heir.

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