§7931 — Title 7 Agriculture | U.S. Code

Summary

From the 2002 through 2007 crops, the Secretary must offer nonrecourse marketing assistance loans to producers on a farm for any amount of loan commodities they grow. Loans follow terms the Secretary sets and use the loan rate in section 7932. If a producer’s crop was mixed with other farmers’ crops in storage that was not licensed, the producer can still get a loan if they agree to immediately redeem the loan collateral under section 166 of the Federal Agriculture Improvement and Reform Act of 1996 (7 U.S.C. 7286). As a condition of the loan, the producer must follow the conservation and wetland protection rules in subtitles B and C of title XII of the Food Security Act of 1985 (16 U.S.C. 3811 et seq., 3821 et seq.). Despite section 131 of the 1996 Act (7 U.S.C. 7231), nonrecourse loans will not be made for the 2002 crop of commodities covered by subtitle C of title I of that Act.

Title 7, §7931

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(a)(1)For each of the 2002 through 2007 crops of each loan commodity, the Secretary shall make available to producers on a farm nonrecourse marketing assistance loans for loan commodities produced on the farm.

(2)The marketing assistance loans shall be made under terms and conditions that are prescribed by the Secretary and at the loan rate established under section 7932 of this title for the loan commodity.

(b)The producers on a farm shall be eligible for a marketing assistance loan under subsection (a) for any quantity of a loan commodity produced on the farm.

(c)In carrying out this subchapter, the Secretary shall make loans to producers on a farm that would be eligible to obtain a marketing assistance loan, but for the fact the loan commodity owned by the producers on the farm commingled with loan commodities of other producers in facilities unlicensed for the storage of agricultural commodities by the Secretary or a State licensing authority, if the producers obtaining the loan agree to immediately redeem the loan collateral in accordance with section 166 of the Federal Agriculture Improvement and Reform Act of 1996 (7 U.S.C. 7286).

(d)As a condition of the receipt of a marketing assistance loan under subsection (a), the producer shall comply with applicable conservation requirements under subtitle B of title XII of the Food Security Act of 1985 (16 U.S.C. 3811 et seq.) and applicable wetland protection requirements under subtitle C of title XII of the Act (16 U.S.C. 3821 et seq.) during the term of the loan.

(e)Notwithstanding section 131 of the Federal Agriculture Improvement and Reform Act of 1996 (7 U.S.C. 7231), nonrecourse marketing assistance loans shall not be made for the 2002 crop of loan commodities under subtitle C of title I of such Act [7 U.S.C. 7231 et seq.].

Notes & Related Subsidiaries

Editorial Notes

References in Text

This subchapter, referred to in subsec. (c), was in the original “this subtitle”, meaning subtitle B (§§ 1201–1209) of title I of Pub. L. 107–171, May 13, 2002, 116 Stat. 155, which is classified principally to this subchapter. For complete classification of subtitle B to the Code, see Tables. The Food Security Act of 1985, referred to in subsec. (d), is Pub. L. 99–198, Dec. 23, 1985, 99 Stat. 1354. Subtitles B and C of title XII of the Act are classified generally to subchapters II (§ 3811 et seq.) and III (§ 3821 et seq.), respectively, of chapter 58 of Title 16, Conservation. For complete classification of this Act to the Code, see

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of 1985 Amendment note set out under section 1281 of this title and Tables. The Federal Agriculture Improvement and Reform Act of 1996, referred to in subsec. (e), is Pub. L. 104–127, Apr. 4, 1996, 110 Stat. 888. Subtitle C of title I of the Act is classified generally to subchapter III (§ 7231 et seq.) of chapter 100 of this title. For complete classification of this Act to the Code, see

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note set out under section 7201 of this title and Tables.

§7931 Availability of Nonrecourse Marketing Assistance Loans for Loan Commodities

Summary

Title 7, §7931

Notes & Related Subsidiaries

Editorial Notes

References in Text

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