7 USC § 8714 - Availability of counter-cyclical payments
(a)
Payment required
Except as provided in section
8715 of this title, for each of the 2008 through 2012 crop years for each covered commodity, the Secretary shall make counter-cyclical payments to producers on farms for which payment yields and base acres are established with respect to the covered commodity if the Secretary determines that the effective price for the covered commodity is less than the target price for the covered commodity.
(b)
Effective price
(1)
Covered commodities other than rice
Except as provided in paragraph (2), for purposes of subsection (a), the effective price for a covered commodity is equal to the sum of the following:
(A)
The higher of the following:
(B)
The payment rate in effect for the covered commodity under section
8713 of this title for the purpose of making direct payments with respect to the covered commodity.
(2)
Rice
In the case of long grain rice and medium grain rice, for purposes of subsection (a), the effective price for each type or class of rice is equal to the sum of the following:
(A)
The higher of the following:
(B)
The payment rate in effect for the type or class of rice under section
8713 of this title for the purpose of making direct payments with respect to the type or class of rice.
(c)
Target price
(1)
2008 crop year
For purposes of the 2008 crop year, the target prices for covered commodities shall be as follows:
(2)
2009 crop year
For purposes of the 2009 crop year, the target prices for covered commodities shall be as follows:
(d)
Payment rate
The payment rate used to make counter-cyclical payments with respect to a covered commodity for a crop year shall be equal to the difference between—
(e)
Payment amount
If counter-cyclical payments are required to be paid under this section for any of the 2008 through 2012 crop years of a covered commodity, the amount of the counter-cyclical payment to be paid to the producers on a farm for that crop year shall be equal to the product of the following:
(f)
Time for payments
(1)
General rule
Except as provided in paragraph (2), if the Secretary determines under subsection (a) that counter-cyclical payments are required to be made under this section for the crop of a covered commodity, beginning October 1, or as soon as practicable thereafter, after the end of the marketing year for the covered commodity, the Secretary shall make the counter-cyclical payments for the crop.
(2)
Availability of partial payments
(A)
In general
If, before the end of the 12-month marketing year for a covered commodity, the Secretary estimates that counter-cyclical payments will be required for the crop of the covered commodity, the Secretary shall give producers on a farm the option to receive partial payments of the counter-cyclical payment projected to be made for that crop of the covered commodity.
(3)
Time for partial payments
When the Secretary makes partial payments for a covered commodity for any of the 2008 through 2010 crop years—
(4)
Amount of partial payment
(A)
First partial payment
For each of the 2008 through 2010 crops of a covered commodity, the first partial payment under paragraph (3) to the producers on a farm may not exceed 40 percent of the projected counter-cyclical payment for the covered commodity for the crop year, as determined by the Secretary.
(a)
Payment required
Except as provided in section
8715 of this title, for each of the 2008 through 2012 crop years for each covered commodity, the Secretary shall make counter-cyclical payments to producers on farms for which payment yields and base acres are established with respect to the covered commodity if the Secretary determines that the effective price for the covered commodity is less than the target price for the covered commodity.
(b)
Effective price
(1)
Covered commodities other than rice
Except as provided in paragraph (2), for purposes of subsection (a), the effective price for a covered commodity is equal to the sum of the following:
(A)
The higher of the following:
(B)
The payment rate in effect for the covered commodity under section
8713 of this title for the purpose of making direct payments with respect to the covered commodity.
(2)
Rice
In the case of long grain rice and medium grain rice, for purposes of subsection (a), the effective price for each type or class of rice is equal to the sum of the following:
(A)
The higher of the following:
(B)
The payment rate in effect for the type or class of rice under section
8713 of this title for the purpose of making direct payments with respect to the type or class of rice.
(c)
Target price
(1)
2008 crop year
For purposes of the 2008 crop year, the target prices for covered commodities shall be as follows:
(2)
2009 crop year
For purposes of the 2009 crop year, the target prices for covered commodities shall be as follows:
(d)
Payment rate
The payment rate used to make counter-cyclical payments with respect to a covered commodity for a crop year shall be equal to the difference between—
(e)
Payment amount
If counter-cyclical payments are required to be paid under this section for any of the 2008 through 2012 crop years of a covered commodity, the amount of the counter-cyclical payment to be paid to the producers on a farm for that crop year shall be equal to the product of the following:
(f)
Time for payments
(1)
General rule
Except as provided in paragraph (2), if the Secretary determines under subsection (a) that counter-cyclical payments are required to be made under this section for the crop of a covered commodity, beginning October 1, or as soon as practicable thereafter, after the end of the marketing year for the covered commodity, the Secretary shall make the counter-cyclical payments for the crop.
(2)
Availability of partial payments
(A)
In general
If, before the end of the 12-month marketing year for a covered commodity, the Secretary estimates that counter-cyclical payments will be required for the crop of the covered commodity, the Secretary shall give producers on a farm the option to receive partial payments of the counter-cyclical payment projected to be made for that crop of the covered commodity.
(3)
Time for partial payments
When the Secretary makes partial payments for a covered commodity for any of the 2008 through 2010 crop years—
(4)
Amount of partial payment
(A)
First partial payment
For each of the 2008 through 2010 crops of a covered commodity, the first partial payment under paragraph (3) to the producers on a farm may not exceed 40 percent of the projected counter-cyclical payment for the covered commodity for the crop year, as determined by the Secretary.
Source
(Pub. L. 110–234, title I, § 1104,May 22, 2008, 122 Stat. 942; Pub. L. 110–246, § 4(a), title I, § 1104,June 18, 2008, 122 Stat. 1664, 1671.)
Codification
Pub. L. 110–234and Pub. L. 110–246enacted identical sections. Pub. L. 110–234was repealed by section 4(a) ofPub. L. 110–246.
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 Friday, May 3, 2013
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