§7953 Availability of direct payments for peanuts

Summary

The Secretary must pay peanuts producers direct payments for the 2002 and 2003–2007 crop years. For 2002, payments go to "historic peanut producers." For 2003 through 2007, payments go to producers on farms that have peanut payment yields and base acres assigned under section 7952. The payment rate is $36 per ton. For 2002 the payment is $36 times the producer’s payment acres times the producer’s average peanut yield (as set under section 7952(a)(1)). For 2003–2007 the payment is $36 times the farm’s payment acres times the farm’s payment yield. The Secretary must pay 2002 amounts as soon as possible after May 13, 2002, and must pay 2003–2007 amounts by September 30 of the harvest year. Producers may take part of the payment early: up to 50% for 2003–2005, up to 40% for 2006, and up to 22% for 2007. They pick the month for the advance, from December 1 before the harvest year through the month the full payment would normally be made, and can change that choice later with notice. If a producer who received an advance stops being a producer on that farm or changes their share of production risk before the rest is paid, they must repay the appropriate part of the advance as the Secretary determines.