Page:United States Statutes at Large Volume 99 Part 2.djvu/342

 99 STAT. 1452 Prohibition. Loans.

Prohibition.

PUBLIC LAW 99-198—DEC. 23, 1985 (1) in the third sentence, striking out the langauge following the third colon and inserting in lieu thereof the following: "Provided, That, notwithstanding any other provision of law, the Corporation may not sell any of its stocks of wheat, corn, grain sorghum, barley, oats, and rye, respectively, at less than (A) 115 percent of the current national average loan rate for the commodity, adjusted for such current market differentials reflecting grade, quality, location, and other value factors as the Secretary determines appropriate plus reasonble carrying charges, or (B) if the Secretary permits the repayment of loans made for a crop of the commodity at a rate that is less than the loan level determined for such crop, 115 percent of the averge loan repayment rate that is determined for such crop during the period of such loans.''; (2) in the fifth sentence, striking out "current basic county support rate including the value of any applicable price-support payment in kind (or a comparable price if there is no current basic county support rate)' and inserting in lieu thereof the following: current basic county loan rate (or a comparable price if there is no current basic county loan rate)"; and (3) in the seventh sentence, striking out ", but in no event shall the purchase price exceed the then current support price for such commodities" and inserting in lieu thereof: "or unduly affecting market prices, but in no event shall the purchase price exceed the Corporation's minimum sales price for such commodities for unrestricted use"., DISASTER PAYMENTS FOR 1985 THROUGH 1990 CROPS OF PEANUTS,,, SOYBEANS, SUGAR BEETS, AND SUGARCANE

SEC. 1008. Effective only for the 1985 through 1990 crops of peanuts, soybeans, sugar beets, and sugarcane, section 201 of the Agricultural Act of 1949 (7 U.S.C. 1446) (as amended by section 901 of this Act) is further amended by adding at the end thereof the following new subsection: "(k)(1) If the Secetary determines that the producers on a farm are prevented from planting any portion of the acreage on the farm intended for peanuts, soybeans, sugar beets, or sugarcane to peanuts, soybeans, sugar beets, sugarcane, or other nonconserving crops because of drought, flood, or other natural disaster, or other condition beyond the control of the producers, the Secretary may make a prevented planting disaster payment to the producers in an amount equal to the product obtained^y multiplying— "(A) the number of acres so affected but not to exceed the acreage planted to peanuts, soybeans, sugar beets, or sugarcane for harvest (including any acreage that the producers were prevented from planting to such commodity or to other nonconserving crops in lieu of peanuts, soybeans, sugar beets, or sugarcane because of drought, flood or other natural disaster, or other condition beyond the control of the producers) in the immediately preceding year, by "(B) 75 percent of the farm program payment yield established by the Secretary, by "(C) a payment rate equal to 50 percent of the loan and purchase level for the crop. "(2) If the Secretary determines that because of drought, flood, or other natural disaster, or other condition beyond the

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