(Oct. 31, 1949, ch. 792, title IV, § 405,63 Stat. 1054; Pub. L. 85–835, title V, § 502,Aug. 28, 1958, 72 Stat. 996; Pub. L. 99–198, title X, § 1004,Dec. 23, 1985, 99 Stat. 1447; Pub. L. 100–460, title VI, § 634(a),Oct. 1, 1988, 102 Stat. 2263; Pub. L. 102–237, title I, § 111(b),Dec. 13, 1991, 105 Stat. 1830.)
References in Text
This Act, referred to in subsec. (a), is act Oct. 31, 1949, ch. 792, 63 Stat. 1051
, as amended, known as the Agricultural Act of 1949, which is classified principally to this chapter (§ 1421 et seq.). For complete classification of this Act to the Code, see Short Title note set out under section
of this title and Tables.
1991—Subsec. (b). Pub. L. 102–237
amended subsec. (b) generally. Prior to amendment, subsec. (b) read as follows:
“(1) Notwithstanding any other provision of law, the Secretary may provide a negotiable certificate to any producer who repays, together with interest, a price support loan made available to such producer under any of the annual programs, for wheat, feed grains, upland cotton, or rice established under this Act.
“(2) The amount of such certificates shall be equal to the amount of the interest paid by the producer on such loan.
“(3) Such certificate shall be redeemable in wheat, feed grains, upland cotton, or rice, as the case may be, owned by the Commodity Credit Corporation.
“(4) The issuance of such certificate shall be subject to the availability of commodities owned by the Corporation.”
1988—Subsec. (a). Pub. L. 100–460
substituted “Except as otherwise provided in section
of this title, no producer” for “No producer”.
1985—Pub. L. 99–198
temporarily designated existing provisions as subsec. (a) and added subsec. (b). See Effective and Termination Dates of 1985 Amendment note below.
1958—Pub. L. 85–835
authorized the Commodity Credit Corporation to acquire title to agricultural commodities on which nonrecourse price-support loans have been made without the necessity of computing and making payments to the farmer.
Effective Date of 1988 Amendment
Section 634(a) ofPub. L. 100–460
provided that the amendment made by that section is effective beginning with 1989 crop year for honey.
Effective and Termination Dates of 1985 Amendment
Section 1004 ofPub. L. 99–198
provided that the amendment made by that section is effective only for 1986 through 1990 crops.
Exceptions From Transfer of Functions
Functions of Corporations of Department of Agriculture, boards of directors and officers of such corporations; Advisory Board of Commodity Credit Corporation; and Farm Credit Administration or any agency, officer, or entity of, under, or subject to supervision of said Administration excepted from functions of officers, agencies, and employees transferred to Secretary of Agriculture by 1953 Reorg. Plan No. 2, § 1, effective June 4, 1953, 18
, 67 Stat. 633
, set out as a note under section
of this title.
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
of this title.
Section inapplicable to 1996 through 2002 crops of loan commodities, peanuts, and sugar and inapplicable to milk during period beginning Apr. 4, 1996, and ending Dec. 31, 2002, see section
of this title.