effective reference price

(8) Effective reference price The term “effective reference price”, with respect to a covered commodity for a crop year, means the lesser of the following: (A) An amount equal to 115 percent of the reference price for such covered commodity. (B) An amount equal to the greater of— (i) the reference price for such covered commodity; or (ii) 85 percent of the average of the marketing year average price of the covered commodity for the most recent 5 crop years, excluding each of the crop years with the highest and lowest marketing year average price.

Source

7 USC § 9011(8)


Scoping language

In this subchapter
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