Page:United States Statutes at Large Volume 99 Part 2.djvu/345

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PUBLIC LAW 99-198—DEC. 23, 1985

99 STAT. 1455

program under section 105C or 107D for one or more of the 1986 through 1990 crops of wheat and feed grains if the Secretary determines that such action is in the public interest as a result of the imposition of restrictions on the export of any such commodity by the President or other member of the executive branch of the Federal Government. To carry out effectively a set-aside or acreage limitation program authorized under this section, the Secretary may make such modifications and adjustments in such program as the Secretary determines necessary because of any delay in instituting such program.".

Ante, pp. 1395, 1383.

PRODUCER RESERVE PROGRAM FOR WHEAT AND FEED GRAINS

SEC. 1012. (a) Except as provided by subsection (b), effective beginning with the 1986 crops, section 110 of the Agricultural Act of 1949 (7 U.S.C. 1445e) is amended by CD in the first sentence of subsection (a)— (A) striking out "and" after "supply" and inserting in lieu thereof a comma; and (B) inserting before the period at the end thereof the following: ", and provide for adequate, but not excessive, carryover stocks to ensure a reliable supply of the ": commodities"; (2) in the third sentence of subsection (b)— (A) in clause (1), striking out "nor more than five years" and inserting in lieu thereof ", with extensions as warrgmted by market conditions"; (B) in clause (4), striking out "before the market price for wheat or feed grains has reached" and inserting in lieu thereof "when the total amount of wheat or feed grains in storage under programs under this section is below the upper limits for such storage as set forth in clauses (A) and (B) of subsection (e)(2) and the market price for wheat or feed grains is below"; (C) in clause (5), striking out "a specified level, as determined by the Secretary" and inserting in lieu thereof "the higher of 140 percent of the nonrecourse loan rate for the commodity or the established price for such commodity, as determined under title I"; (3) adding at the end of subsection (b) the following: "Whenever— "(A)(i) the total quantity of wheat stored under storage programs established under this section is less than. 17 percent of the estimated total domestic and export usage of wheat during the then current marketing year for wheat, as determined by the Secretary; or "(ii) the total quantity of feed grains stored under storage programs established under this section is less than 7 percent of the estimated total domestic and export usage of feed grains during the then current marketing year for feed grains, as determined by the Secretary; and "(B) the market price of the commodity, as determined by the Secretary, does not exceed 140 percent of the nonrecourse loan rate for the commodity; the Secretary shall encourage participation in the programs authorized under this section by offering producers increased storage payments and loan levels, interest waivers, or such other incentives

Loans.

Loans.

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