For each of the 2008 through 2012 crop years for peanuts, the Secretary shall make direct payments to the producers on a farm for which a payment yield and base acres for peanuts are established.
(b) Payment rate
Except as provided in section
8715 of this title, the payment rate used to make direct payments with respect to peanuts for a crop year shall be equal to $36 per ton.
(c) Payment amount
The amount of the direct payment to be paid to the producers on a farm for peanuts for a crop year shall be equal to the product of the following:
(1)The payment rate specified in subsection (b).
(2)The payment acres on the farm.
(3)The payment yield for the farm.
(d) Time for payment
(1) In general
Except as provided in paragraph (2), in the case of each of the 2008 through 2012 crop years, the Secretary may not make direct payments under this section before October 1 of the calendar year in which the crop is harvested.
(2) Advance payments
(A) Option
(i)In general
At the option of the producers on a farm, the Secretary shall pay in advance up to 22 percent of the direct payment for peanuts for any of the 2008 through 2011 crop years to the producers on a farm.
(ii)2008 crop year
If the producers on a farm elect to receive advance direct payments under clause (i) for peanuts for the 2008 crop year, as soon as practicable after the election, the Secretary shall make the advance direct payment to the producers on the farm.
(B) Month
(i)Selection
Subject to clauses (ii) and (iii), the producers on a farm shall select the month during which the advance payment for a crop year will be made.
(ii)Options
The month selected may be any month during the period—
(I)beginning on December 1 of the calendar year before the calendar year in which the crop of peanuts is harvested; and
(II)ending during the month within which the direct payment would otherwise be made.
(iii)Change
The producers on a farm may change the selected month for a subsequent advance payment by providing advance notice to the Secretary.
(3) Repayment of advance payments
If a producer on a farm that receives an advance direct payment for a crop year ceases to be a producer on that farm, or the extent to which the producer shares in the risk of producing a crop changes, before the date the remainder of the direct payment is made, the producer shall be responsible for repaying the Secretary the applicable amount of the advance payment, as determined by the Secretary.
For each of the 2008 through 2012 crop years for peanuts, the Secretary shall make direct payments to the producers on a farm for which a payment yield and base acres for peanuts are established.
(b) Payment rate
Except as provided in section
8715 of this title, the payment rate used to make direct payments with respect to peanuts for a crop year shall be equal to $36 per ton.
(c) Payment amount
The amount of the direct payment to be paid to the producers on a farm for peanuts for a crop year shall be equal to the product of the following:
(1)The payment rate specified in subsection (b).
(2)The payment acres on the farm.
(3)The payment yield for the farm.
(d) Time for payment
(1) In general
Except as provided in paragraph (2), in the case of each of the 2008 through 2012 crop years, the Secretary may not make direct payments under this section before October 1 of the calendar year in which the crop is harvested.
(2) Advance payments
(A) Option
(i)In general
At the option of the producers on a farm, the Secretary shall pay in advance up to 22 percent of the direct payment for peanuts for any of the 2008 through 2011 crop years to the producers on a farm.
(ii)2008 crop year
If the producers on a farm elect to receive advance direct payments under clause (i) for peanuts for the 2008 crop year, as soon as practicable after the election, the Secretary shall make the advance direct payment to the producers on the farm.
(B) Month
(i)Selection
Subject to clauses (ii) and (iii), the producers on a farm shall select the month during which the advance payment for a crop year will be made.
(ii)Options
The month selected may be any month during the period—
(I)beginning on December 1 of the calendar year before the calendar year in which the crop of peanuts is harvested; and
(II)ending during the month within which the direct payment would otherwise be made.
(iii)Change
The producers on a farm may change the selected month for a subsequent advance payment by providing advance notice to the Secretary.
(3) Repayment of advance payments
If a producer on a farm that receives an advance direct payment for a crop year ceases to be a producer on that farm, or the extent to which the producer shares in the risk of producing a crop changes, before the date the remainder of the direct payment is made, the producer shall be responsible for repaying the Secretary the applicable amount of the advance payment, as determined by the Secretary.
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