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Title 7 — AgricultureRelease 119-73not60

§1391 Authorization of Appropriations; Loans From Commodity Credit Corporation

Title 7 › Chapter 35— AGRICULTURAL ADJUSTMENT ACT OF 1938 › Subchapter II— LOANS, PARITY PAYMENTS, CONSUMER SAFEGUARDS, MARKETING QUOTAS, AND MARKETING CERTIFICATES › Part F— Miscellaneous Provisions and Appropriations › Subpart ii— appropriations and administrative expenses › § 1391

Last updated Apr 3, 2026|Official source

Summary

Congress may approve money each year, starting with the fiscal year that ended June 30, 1938, to run this program and to make soil conservation and other payments. That money is in addition to any funds provided under section 590o of title 16. For the fiscal year ending June 30, 1938, up to $5,000,000 may be used from related program funds (sections 590g, 590h, 590i, and 590j–590q of title 16) to administer these programs. Beginning with the fiscal year that ended June 30, 1941, the Commodity Credit Corporation must lend the Secretary up to $50,000,000 each year, as the Secretary estimates is needed. Those loans pay crop insurance premium advances, certain other crop program advances under related law, and county agricultural conservation associations’ administrative costs for the calendar year in which the fiscal year ends. The loans go into the current account for those related programs and must be repaid with interest set by the Secretary, but not less than the CCC’s cost of funds for a similar period. Repayment must happen in the next fiscal year from that year’s appropriation or from any unused appropriation balance.

Full Legal Text

Title 7, §1391

Agriculture — Source: USLM XML via OLRC

(a)Beginning with the fiscal year ending June 30, 1938, there is hereby authorized to be appropriated, for each fiscal year for the administration of this chapter and for the making of soil conservation and other payments such sums as Congress may determine, in addition to any amount made available pursuant to section 590o of title 16.
(b)For the administration of this chapter (and the provisions of chapter 36 of this title) during the fiscal year ending June 30, 1938, there is hereby authorized to be made available from the funds appropriated for such fiscal year for carrying out the purposes of section 590g, 590h, 590i, and 590j to 590q of title 16, a sum not to exceed $5,000,000.
(c)During each fiscal year, beginning with the fiscal year ending June 30, 1941, the Commodity Credit Corporation is authorized and directed to loan to the Secretary such sums, not to exceed $50,000,000, as he estimates will be required during such fiscal year, to make crop insurance premium advances and to make advances pursuant to the applicable provisions of section 590h and 590l of title 16, in connection with programs applicable to crops harvested in the calendar year in which such fiscal year ends, and to pay the administrative expenses of county agricultural conservation associations for the calendar year in which such fiscal year ends. The sums so loaned during any fiscal year shall be transferred to the current appropriation available for carrying out section 590g, 590h, 590i, and 590j to 590q of title 16 and shall be repaid, with interest at a rate to be determined by the Secretary but not less than the cost of money to the Commodity Credit Corporation for a comparable period, during the succeeding fiscal year from the appropriation available for that year or from any unobligated balance of the appropriation for any other year.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

1940—Subsec. (c). Act July 2, 1940, added subsec. (c).

Executive Documents

Transfer of Functions

Administration of program of Commodity Credit Corporation transferred to Secretary of Agriculture by 1946 Reorg. Plan No. 3, § 501, eff. July 16, 1946, 11 F.R. 7877, 60 Stat. 1100, set out in the Appendix to Title 5, Government Organization and Employees. Exceptions From

Transfer of Functions

Functions of Corporations of Department of Agriculture, boards of directors and officers of such corporations; Advisory Board of Commodity Credit Corporation; and Farm Credit Administration or any agency, officer, or entity of, under, or subject to supervision of said Administration excepted from functions of officers, agencies, and employees transferred to Secretary of Agriculture by 1953 Reorg. Plan No. 2, § 1, effective June 4, 1953, 18 F.R. 3219, 67 Stat. 633, set out as a note under section 2201 of this title.

Reference

Citations & Metadata

Citation

7 U.S.C. § 1391

Title 7 — Agriculture

Last Updated

Apr 3, 2026

Release point: 119-73not60