7 USC § 1379e - Assistance in purchase and sale of marketing certificates; regulations; administrative expenses; interest
For the purpose of facilitating the purchase and sale of marketing certificates, the Commodity Credit Corporation is authorized to issue, buy, and sell marketing certificates in accordance with regulations prescribed by the Secretary. Such regulations may authorize the Corporation to issue and sell certificates in excess of the quantity of certificates which it purchases. Such regulations may authorize the Corporation in the sale of marketing certificates to charge, in addition to the face value thereof, an amount determined by the Secretary to be appropriate to cover estimated administrative costs in connection with the purchase and sale of the certificates and estimated interest incurred on funds of the Corporation invested in certificates purchased by it.
For the purpose of facilitating the purchase and sale of marketing certificates, the Commodity Credit Corporation is authorized to issue, buy, and sell marketing certificates in accordance with regulations prescribed by the Secretary. Such regulations may authorize the Corporation to issue and sell certificates in excess of the quantity of certificates which it purchases. Such regulations may authorize the Corporation in the sale of marketing certificates to charge, in addition to the face value thereof, an amount determined by the Secretary to be appropriate to cover estimated administrative costs in connection with the purchase and sale of the certificates and estimated interest incurred on funds of the Corporation invested in certificates purchased by it.
Source
(Feb. 16, 1938, ch. 30, title III, § 379e, as added Pub. L. 87–703, title III, § 324(2),Sept. 27, 1962, 76 Stat. 628; amended Pub. L. 89–321, title V, § 516,Nov. 3, 1965, 79 Stat. 1206; Pub. L. 90–559, § 1(6),Oct. 11, 1968, 82 Stat. 996; Pub. L. 91–524, title IV, § 403(a)(3),Nov. 30, 1970, 84 Stat. 1366.)
Codification
The sentence added by Pub. L. 89–321, as amended by Pub. L. 90–559, which directed the Commodity Credit Corporation to sell marketing certificates for the marketing years for the 1966 through 1970 wheat crops to persons processing food products at the face value thereof less any amount by which price support for wheat accompanied by domestic certificates exceeded $2 per bushel, was omitted as executed.
Amendments
1970—Pub. L. 91–524, temporarily directed the Commodity Credit Corporation to sell marketing certificates for the marketing years for the 1971, 1972, and 1973 crops of wheat to persons engaged in the processing of food products but directed that, in determining the cost to processors of food products, the face value be 75 cents per bushel. See Effective and Termination Dates of 1970 Amendment note below.
1968—Pub. L. 90–559provided for a one year extension of period for sale of marketing certificates, substituting “1966 through the 1970” for “1966 through the 1969” wheat crops.
1965—Pub. L. 89–321required the Commodity Credit Corporation to sell marketing certificates for the marketing years for the 1966 through the 1969 wheat crops to persons engaged in the processing of food products at the face value thereof less any amount by which price support for wheat accompanied by domestic certificates exceeds $2 per bushel.
Effective and Termination Dates of 1970 Amendment
Section 403(a) ofPub. L. 91–524provided that the amendment made by that section is effective only with respect to marketing years beginning July 1, 1971, July 1, 1972, and July 1, 1973.
Inapplicability of Section
Section inapplicable to 2002 through 2007 crops of covered commodities, peanuts, and sugar and inapplicable to milk during period beginning May 13, 2002, through Dec. 31, 2007, see section
7992
(a)(3) of this title.
Section inapplicable to 1996 through 2001 crops of loan commodities, peanuts, and sugar and inapplicable to milk during period beginning Apr. 4, 1996, and ending Dec. 31, 2002, see section
7301
(a)(1)(H) of this title.
Section inapplicable to wheat processors or exporters during period June 1, 1991, through May 31, 1996, see section 302 ofPub. L. 101–624, set out as a note under section
1379d of this title.
Section inapplicable to wheat processors or exporters during period June 1, 1986, through May 31, 1991, see section 309 ofPub. L. 99–198, set out as a note under section
1379d of this title.
Section inapplicable to wheat processors or exporters during period June 1, 1982, through May 31, 1986, see section 302 ofPub. L. 97–98, set out as a note under section
1379d of this title.
Section inapplicable to wheat processors or exporters during period July 1, 1973, through May 31, 1982, see section 403 ofPub. L. 95–113, set out as a note under section
1379d of this title.
Section inapplicable to wheat processed or exported during period July 1, 1973, through June 30, 1978, see section 403(b) ofPub. L. 91–524, as added by section 1(10) ofPub. L. 93–86, set out as a note under section
1379d of this title.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, May 21, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
| 7 USC | Description of Change | Session Year | Public Law | Statutes at Large |
|---|
This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.
This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].
It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.
LII has no control over and does not endorse any external Internet site that contains links to or references LII.
