Page:United States Statutes at Large Volume 96 Part 1.djvu/250

 96 STAT. 208

Ante, p. 197.

No Net Cost Account Establishment.

PUBLIC LAW 97-218—JULY 20, 1982 loan exceeds the principal amount of the price support loan made by the Corporation to the association on such crop, plus interest and charges; "(5) the term 'tobacco' means any kind of tobacco except Fluecured tobacco, as defined in section 301(b)(15) of the Agricultural Adjustment Act of 1938, for which marketing quotas are in effect or for which marketing quotas are not disapproved by producers; "(6) the term 'area', when used in connection with an association, means the general geographical area in which farms of the producer-members of such association are located, as determined by the Secretary; and "(7) the term 'Corporation' shall have the meaning given to it in section 106A(a)(2). "(b) Notwithstanding section 106A, the Secretary shall, upon the request of any association, and may, if the Secretary determines, after consultation with such association, that the accumulation of the No Net Cost Tobacco Fund for such association under section 106A is, and is likely to remain, inadequate to reimburse the Corporation for net losses which the Corporation sustains under its loan agreement with such association— "(1) continue to make price support available to producers through such association in accordance with loan agreements entered into between the Corporation and such association; and "(2) establish and maintain in accordance with this section a ^ ° ^®* ^°^* Tobacco Account for such association in lieu of the No Net Cost Tobacco Fund established within such association under section 106A. "(c)(1) Any Account established for an association under subsection (b)(2) shall be established within the Corporation and shall be comprised of amounts paid by producers under subsection (d). "(2) Upon the establishment of an Account for an association, any amount in the No Net Cost Tobacco Fund established within such association under section 106A shall be applied or disposed of in such manner as the Secretary may approve or prescribe, except that such amount shall, to the extent necessary, first be applied or used for the purposes therefor prescribed in such section. "(d)(1) If an Account is established for an association under subsection (b)(2), then the Secretary shall require (in lieu of any requirement under section 106A(d)(l)) that each producer of the kind of tobacco involved whose farm is within such association's area shall, as a condition of eligibility for price support, agree, with respect to all of such kind of tobacco marketed by the producer from the farm, to pay to the Corporation, for deposit in such association's Account, marketing assessments as determined under paragraph (2) and collected under paragraph (3). "(2) For purposes of paragraph (1), the Secretary shall determine and adjust from time to time, in consultation with such association, the amount of the marketing assessment which shall be imposed, as a condition of eligibility for price support, on each pound of the kind of tobacco involved marketed by a producer from a farm within such association's area. Such amount shall be equal to an amount which, when collected, will result in an accumulation of an Account for such association adequate to reimburse the Corporation for any net losses which the Corporation may sustain under its loan agreements with such association, based on reasonable estimates of the amounts which the Corporation will lend to such association under such

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