Effective reference price

Effective reference price means the lesser of the following:
(1) An amount equal to 115 percent of the reference price for a covered commodity; or
(2) An amount equal to the greater of:
(i) The reference price for a covered commodity; or
(ii) 85 percent of the average of the MYA price of the covered commodity for the most recent 5 crop years available, excluding each of the crop years with the highest and lowest MYA price.

Source

7 CFR § 1412.3

Scoping language

The definitions in this section are applicable for all purposes of administering this part. The terms defined in part 718 of this title and part 1400 of this chapter are also applicable, except where those definitions conflict with the definitions specified in this section. Where there is a conflict or a difference in definitions specified in this part and part 718 of this title or part 1400 of this chapter, the regulations in this part will apply.