Page:United States Statutes at Large Volume 91.djvu/973

 PUBLIC LAW 95-113—SEPT. 29, 1977

91 STAT. 939

"(13) The Secretary shall provide adequate safeguards to protect Safeguards, the interests of tenants and sharecroppers. " (14) In any case in which the failure of a producer to comply fully with the terms and conditions of the program formulated under this subsection precludes the making of loans, purchases, and payments, the Secretary may, nevertheless, make such loans, purchases, and payments in such amounts as the Secretary determines to be equitable in relation to the seriousness of the default. "(15) The Secretary is authorized to issue such regulations as the Regulations. Secretary determines necessary to carry out the provisions of this subsection. "(16) The Secretary shall carry out the program authorized by this subsection through the Commodity Credit Corporation. "(17) The provisions of subsection 8(g) of the Soil Conservation and Domestic Allotment Act, as amended (relating to assignment of 16 USC 590h. payments), shall apply to payments under this subsection.". COMMODITY CREDIT CORPORATION SALES PRICE RESTRICTIONS

SEC. 603. Effective only with respect to the period beginning August 1, 1978, and ending July 31, 1982, the tenth sentence of section 407 of the Agricultural Act of 1949, as amended, is amended by striking out all of that sentence through the words "110 per cen'^um of the loan rate, and (2)" and inserting in lieu thereof the following: "Notwithstanding any other provision of law, (1) the Commodity Credit Corporation shall sell upland cotton for unrestricted use at the same prices as it sells cotton for export, in no event, however, at less than 115 per centum of the loan rate for Strict Low Middling one and onesixteenth inch upland cotton (micronaire 3.5 through 4.9) adjusted for such current market differentials reflecting grade, quality, location, and other value factors as the Secretary determines appropriate plus reasonable carrying charges, and (2)". MISCELLANEOUS COTTON

Cotton. 7 USC 1427.

PROVISIONS

SEC. 604. (a) Section 408(b) of the Agricultural Act of 1949, as Cooperator. amended, is amended by inserting immediately before the period at the 7 USC 1428. end of the first sentence the following: ": Provided fwrther^ That for the 1978 through 1981 crops of upland cotton, a cooperator shall be a producer on a farm who has set aside the acreage required under section 103(f)". ^«te, p. 934. (b) Section 408(1) of the Agricultural Act of 1949, as added by the Agricultural Act of 1970, as amended, to be effective for the 1971 through 1977 crops, shall be effective for the 1978 through 1981 crops, and shall read as follows: a REFERENCES TO TERMS MADE APPLICABLE TO UPLAND COTTON

"(1) References made in sections 402, 403, 406, and 416 to the Post, p. 956. terms 'support price', 'level of support', and 'level of price support' 7 USC 1736, shall be considered to apply as well to the level of loans and purchases 1431. for upland cotton under this Act; and references made to the terms 'price support', 'price support operations', and 'price support program' in such sections and in section 401(a) shall be considered as applying Post, p. 956. as well to the loan and purchase operations for upland cotton under this Act.". (c) Sections 103(a) and 203 of the Agricultural Act of 1949, as 7 USC 1446d amended, shall not be applicable to the 1978 through 1981 crops. "ote. 7 USC 1444, 1446d.

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