Page:United States Statutes at Large Volume 99 Part 2.djvu/348

 99 STAT. 1458 Loans.

Prohibition.

PUBLIC LAW 99-198—DEC. 23, 1985

"(B)(i) Except as provided in clause (ii), the Secretary may make available to producers of a commodity who exercise the election provided by this subsection and who comply fully with the terms and conditions of any acreage reduction program established for the preceding year's crop of the commodity— "(I) loans and purchsises at the level established for the crop for which the election is made; "(II) deficiency payments calculated on the same basis as the deficiency payments which were calculated for the crop immediately preceding the crop with respect to which the election is made; and "(III) payments equal to the difference between the level of loans and purchases for the crop with respect to which the election is made and the level of loans and purchases for the crop immediately preceding the crop with respect to which the election is made. Payments authorized by subclause (III) of the preceding sentence shall be made in the form of cash or in-kind commodities. "(ii) In the case of the 1991 crop, the Secretary shall make available to producers of a commodity who exercise the election provided by this section and who comply fully with the terms and conditions of any acreage reduction program established for the 1990 crop of the commodity— "(I) loans and purchases at the level established for the 1991 crop under legislation enacted subsequent to the date of the enactment of the Food Security Act of 1985, except that if legislation is enacted subsequent to the enactment of such Act which provides that loans and purcheises shall not be made with respect to the 1991 crop of a commodity, the Secretary may make available to producers of such commodity eligible for the election provided by this subsection loans and purchases at the level determined for the 1990 crop, or if legislation is not enacted subsequent to the enactment of such Act which provides that loans and purchases shall be made with respect to the 1991 crop of any such commodity, and if loans and purchases are available to producers of such commodity under laws pre. viously enacted, none of the provisions of this section shall , apply to the 1991 crop; "(II) deficiency payments calculated on the basis of the estab, lished price for the commodity determined for the 1990 crop; s and "(III) payments equal to the difference between the level of ' loans and purchases that the producer is eligible to receive under subclause (I) for such commodity for the 1991 crop and the level of loans and purchases determined for such commodity for the 1990 crop. Pajmtients authorized by subclause (III) of the preceding sentence shall be made in cash or in the form of in-kind commodities. "(C) The Secretary shall consider the crop acreage base and farm program payment yield for any farm with respect to which a producer exercises the election provided by this section to be equal to the crop acreage base and farm program payment yield that was established, or would have been established, for such farm for the year preceding the year for which the election is made.".

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