Page:United States Statutes at Large Volume 99 Part 2.djvu/300

 99 STAT. 1410

Federal Roister, publication. Regulations.

Conservation.

PUBLIC LAW 99-198—DEC. 23, 1985

"(I) a formula to define the prevailing world market price for cotton; and "(II) a mechanism by which the Secretary shall announce periodically the prevailing world market price for cotton. "(ii) Not later than 90 days after the date of enactment of the Food Security Act of 1985, the Secretary shall— "(I) publish in the Federal Register proposed regulations specifying such formula and mechanism; and "(II) invite public comment on such proposal, "(iii) The prevailing world market price established under this subparagraph shall be used for purposes of both Plan A and Plan B and marketing certificates under subparagraph (D). "(b)(1) The Secretary may, for each of the 1986 through 1990 crops of upland cotton, make pa5nnents available to producers who, although eligible to obtain a loan under subsection (a), sigree to forgo obtaining such loan in return for such payments. "(2) A payment under this subsection shall be computed by multiplying— "(A) the loan payment rate; by "(B) the quantity of upland cotton the producer is eligible to place under loan. "(3) For purposes of this subsection, the quantity of upland cotton eligible to be placed under loan may not exceed the product obtained by multiplying— "(A) the individual farm program acreeige for the crop; by "(B) the farm program payment yield established for the farm. "(4) For purposes of this subsection, the loan payment rate shall be the amount by which— "(A) the loan level determined for such crop under subsection (a); exceeds "(B) the level at which a loan may be repaid under subsection (a). "(5) The Secretary may make up to one-half the amount of a payment under this subsection available in the form of negotiable marketing certificates, subject to the terms and conditions provided in subsection (a)(5)(D). "(c)(l)(A) The Secretary shall make available to producers payments for each of the 1986 through 1990 crops of upland cotton in an amount computed by multiplying— "(i) the payment rate; by ^ n "(ii) the individual farm program acreage; by "(iii) the farm program payment yield established for the crop for the farm. "(B)(i) If an acreage limitation program under subsection (fK2) is in effect for a crop of upland cotton and the producers on a farm devote a portion of the permitted upland cotton acreage of the farm (as determined in accordance with subsection (f)(2)(A)) equal to more than 8 percent of the permitted upland cotton acreage of the farm for the crop to conservation uses or nonprogram crops— "(I) such portion of the permitted upland cotton acreage in excess of 8 percent of such acreage devoted to conservation uses or nonprogram crops shall be considered to be planted to upland cotton for the purpose of determining the individual farm program acreage in accordance with subsection (f)(2)(E) and for the purpose of determining the acreage on the farm required to be

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