Notwithstanding any other provision of law and as soon as practicable after May 13, 2002, the Commodity Credit Corporation shall amend part 1436 of title 7, Code of Federal Regulations, to establish a sugar storage facility loan program to provide financing for processors of domestically-produced sugarcane and sugar beets to construct or upgrade storage and handling facilities for raw sugars and refined sugars.
7 U.S. Code § 7971. Storage facility loans
(a) In general
(b) Eligible processorsA storage facility loan described in subsection (a) shall be made available to any processor of domestically produced sugarcane or sugar beets that (as determined by the Secretary)—
has a need for increased storage capacity, taking into account the effects of marketing allotments; and
(c) Term of loansA storage facility loan described in subsection (a) shall—
be in such amounts and on such other terms and conditions (including terms and conditions relating to downpayments, collateral, and eligible facilities) as are normal, customary, and appropriate for the size and commercial nature of the borrower.
2008—Subsec. (c)(2), (3). Pub. L. 110–246, § 1404, added par. (2), redesignated former par. (2) as (3), and, in par. (3), inserted “other” after “on such”.