7 U.S. Code § 7235 - Loan deficiency payments
This section shall not apply with respect to extra long staple cotton.
A payment to a producer eligible for a payment under subsection (a)(2) that harvested a commodity on or before the date that is 30 days after the promulgation of the regulations implementing subsection (a)(2) shall be determined as the date the producer lost beneficial interest in the commodity, as determined by the Secretary.
Subject to subsection (e), a producer shall be eligible for a payment under this section only if the producer has a beneficial interest in the commodity, as determined by the Secretary.
2002—Subsec. (a)(2). Pub. L. 107–171, § 1205(f)(2)(A), substituted “2000 and 2001 crop years” for “2000 crop year”.
Subsec. (g). Pub. L. 107–171, § 1205(f)(2)(B), added subsec. (g).
2000—Subsec. (a). Pub. L. 106–224, § 206(a), designated existing provisions as par. (1) and added par. (2).
Subsec. (b)(2). Pub. L. 106–224, § 206(b), substituted “produced by the eligible producers, excluding any quantity for which the producers obtain a loan under section 7231 of this title.” for “that the producers on a farm are eligible to place under loan but for which the producers forgo obtaining the loan in return for payments under this section.”
Subsecs. (e), (f). Pub. L. 106–224, § 206(c), added subsecs. (e) and (f).