Page:United States Statutes at Large Volume 99 Part 2.djvu/340

 99 STAT. 1450

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PUBLIC LAW 99-198—DEC. 23, 1985

"(4) For purposes of facilitating the transfer of export certificates under this subsection, the Commodity Credit Corporation may buy and sell certificates in accordance with regulations prescribed by the S©crGtfl.rv "(b)(1) Effective for each of the 1986 through 1990 crops of wheat or feed grains, the Secretary may issue to eligible producers (who, for purposes of this subsection, are producers of wheat or feed grains participating in the program under this Act for such crop who meet the requirements of paragraph (2)) export marketing certificates, denominated in bushels of wheat or feed grains, as applicable, for the crop, which shall be used, under such terms and conditions as the Secretary may prescribe consistent with the provisions of this subsection, as follows: "(A) Not later than 3 months before the beginning of the fi marketing year for a crop of wheat or feed grains, the Secretary I may issue to eligible producers that plant at least 50 percent of ,^ the farm's wheat or feed grain crop acreage base for such crop, export marketing certificates to be applicable to such marketing year that, in the aggregate, shall equal the quantity of the t commodity the Secretary estimates will be exported during the marketing year. Each such eligible producer shall receive certificates for a quantity of the commodity that bears the same " ratio to the quantity of estimated exports as the producer's crop acreage base for that crop of the commodity bears to the aggregate total of all such eligible producers' crop acreage bases ~ "(B) The denomination of export marketing certificates shall t. be 1 bushel (with no accompanying cash face value), except that the Secretary may issue certificates in multiples of such I denomination, and any certificate in the multiple of such denomination, may be exchanged by the producer, at the county Agricultural Stabilization and Conservation Service office, for certificates representing an equivalent quantity of the commodity in different multiples, to facilitate the operation of the program under this subsection. Each export marketing certificate shall designate the producer by name and the crop involved. "(C) If 7 months after the beginning of the marketing year for the crop, the Secretary determines that the amount of the ^ commodity that will be exported during the marketing year for that crop will exceed the aggregate quantity of the commodity '' represented by all the export marketing certificates so issued, ^ the Secretary may issue additional export marketing certificates to producers that initially received certificates for the crop apportioned among such producers so that producer receives the same portion of the additional certificates issued that the producer received of the export certificates initially issued for the crop, as provided in subparagraph (A), rounded upward to the -' nearest full bushel. "(D) Producers may convey export marketing certificates issued under this subsection to purchasers of the commodity involved sold by the producers at any time prior to the end of s the marketing year for the crop described in the certificate. If a ^ producer has less wheat or feed grains to sell than the quantity represented by the export marketing certificates issued to the producer, because of reduced production or other reason or
 * for that crop, rounded upward to the nearest full bushel.
 * sufficient to cover the additional exports, such certificates to be
 * sufficient to cover the additional exports, such certificates to be

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