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7 U.S.C. § 8736 — Repayment of loans

Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 8736 — Repayment of loans

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Source file: Laws/federal/codes/united-states-code/title-7/section-8736-repayment-of-loans--27b8a12786.md
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Source location: Title 7, Chapter 113, § 8736; chapter-113-agricultural-commodity-support-programs.md

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**(a) General rule** The Secretary shall permit the producers on a farm to repay a marketing assistance loan under [section 8731 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section8731&num=0&edition=prelim) for a loan commodity (other than upland cotton, long grain rice, medium grain rice, extra long staple cotton, and confectionery and each other kind of sunflower seed (other than oil sunflower seed)) at a rate that is the lesser of— (1) the loan rate established for the commodity under [section 8732 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section8732&num=0&edition=prelim), plus interest (determined in accordance with [section 7283 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7283&num=0&edition=prelim)); (2) a rate (as determined by the Secretary) that— (A) is calculated based on average market prices for the loan commodity during the preceding 30-day period; and (B) will minimize discrepancies in marketing loan benefits across State boundaries and across county boundaries; or (3) a rate that the Secretary may develop using alternative methods for calculating a repayment rate for a loan commodity that the Secretary determines will— (A) minimize potential loan forfeitures; (B) minimize the accumulation of stocks of the commodity by the Federal Government; (C) minimize the cost incurred by the Federal Government in storing the commodity; (D) allow the commodity produced in the United States to be marketed freely and competitively, both domestically and internationally; and (E) minimize discrepancies in marketing loan benefits across State boundaries and across county boundaries. **(b) Repayment rates for upland cotton, long grain rice, and medium grain rice** The Secretary shall permit producers to repay a marketing assistance loan under [section 8731 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section8731&num=0&edition=prelim) for upland cotton, long grain rice, and medium grain rice at a rate that is the lesser of— (1) the loan rate established for the commodity under [section 8732 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section8732&num=0&edition=prelim), plus interest (determined in accordance with [section 7283 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7283&num=0&edition=prelim)); or (2) the prevailing world market price for the commodity, as determined and adjusted by the Secretary in accordance with this section. **(c) Repayment rates for extra long staple cotton** Repayment of a marketing assistance loan for extra long staple cotton shall be at the loan rate established for the commodity under [section 8732 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section8732&num=0&edition=prelim), plus interest (determined in accordance with [section 7283 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7283&num=0&edition=prelim)). **(d) Prevailing world market price** For purposes of this section and [section 8737 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section8737&num=0&edition=prelim), the Secretary shall prescribe by regulation— (1) a formula to determine the prevailing world market price for each of upland cotton, long grain rice, and medium grain rice; and (2) a mechanism by which the Secretary shall announce periodically those prevailing world market prices. **(e) Adjustment of prevailing world market price for upland cotton, long grain rice, and medium grain rice** (1) **Rice** — The prevailing world market price for long grain rice and medium grain rice determined under subsection (d) shall be adjusted to United States quality and location. (2) **Cotton** — The prevailing world market price for upland cotton determined under subsection (d)— (A) shall be adjusted to United States quality and location, with the adjustment to include— (i) a reduction equal to any United States Premium Factor for upland cotton of a quality higher than Middling (M) 13⁄32-inch; and (ii) the average costs to market the commodity, including average transportation costs, as determined by the Secretary; and (B) may be further adjusted, during the period beginning on the date of enactment of this Act and ending on July 31, 2013, if the Secretary determines the adjustment is necessary to— (i) minimize potential loan forfeitures; (ii) minimize the accumulation of stocks of upland cotton by the Federal Government; (iii) ensure that upland cotton produced in the United States can be marketed freely and competitively, both domestically and internationally; and (iv) ensure an appropriate transition between current-crop and forward-crop price quotations, except that the Secretary may use forward-crop price quotations prior to July 31 of a marketing year only if— (I) there are insufficient current-crop price quotations; and (II) the forward-crop price quotation is the lowest such quotation available. (3) **Guidelines for additional adjustments** — In making adjustments under this subsection, the Secretary shall establish a mechanism for determining and announcing the adjustments in order to avoid undue disruption in the United States market. **(f) Repayment rates for confectionery and other kinds of sunflower seeds** The Secretary shall permit the producers on a farm to repay a marketing assistance loan under [section 8731 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section8731&num=0&edition=prelim) for confectionery and each other kind of sunflower seed (other than oil sunflower seed) at a rate that is the lesser of— (1) the loan rate established for the commodity under [section 8732 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section8732&num=0&edition=prelim), plus interest (determined in accordance with [section 7283 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7283&num=0&edition=prelim)); or (2) the repayment rate established for oil sunflower seed. **(g) Payment of cotton storage costs** (1) **2008 through 2011 crop years** — Effective for each of the 2008 through 2011 crop years, the Secretary shall provide cotton storage payments in the same manner, and at the same rates as the Secretary provided storage payments for the 2006 crop of cotton, except that the rates shall be reduced by 10 percent. (2) **Subsequent crop years** — Beginning with the 2012 crop year, the Secretary shall provide cotton storage payments in the same manner, and at the same rates as the Secretary provided storage payments for the 2006 crop of cotton, except that the rates shall be reduced by 20 percent. **(h) Authority to temporarily adjust repayment rates** (1) **Adjustment authority** — In the event of a severe disruption to marketing, transportation, or related infrastructure, the Secretary may modify the repayment rate otherwise applicable under this section for marketing assistance loans under [section 8731 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section8731&num=0&edition=prelim) for a loan commodity. (2) **Duration** — Any adjustment made under paragraph (1) in the repayment rate for marketing assistance loans for a loan commodity shall be in effect on a short-term and temporary basis, as determined by the Secretary.

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Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 8737 — Loan deficiency payments

**(a) Availability of loan deficiency payments** (1) **In general** — Except as provided in subsection (d), the Secretary may make loan deficiency payments available to producers on a farm that, although eligible to obtain a marketing assistance loan under [section 8731 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section8731&num=0&edition=prelim) with respect to a loan commodity, agree to forgo obtaining the loan for the commodity in return for loan deficiency payments under this section. (2) **Unshorn pelts, hay, and silage** (A) *Marketing assistance loans* — Subject to subparagraph (B), nongraded wool in the form of unshorn pelts and hay and silage derived from a loan commodity are not eligible for a marketing assistance loan under [section 8731 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section8731&num=0&edition=prelim). (B) *Loan deficiency payment* — Effective for the 2008 through 2012 crop years, the Secretary may make loan deficiency payments available under this section to producers on a farm that produce unshorn pelts or hay and silage derived from a loan commodity. **(b) Computation** A loan deficiency payment for a loan commodity or commodity referred to in subsection (a)(2) shall be computed by multiplying— (1) the payment rate determined under subsection (c) for the commodity; by (2) the quantity of the commodity produced by the eligible producers, excluding any quantity for which the producers obtain a marketing assistance loan under [section 8731 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section8731&num=0&edition=prelim). **(c) Payment rate** (1) **In general** — In the case of a loan commodity, the payment rate shall be th

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Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 8701 — Geographically disadvantaged farmers and ranchers

**(a) Definitions** In this section: (1) **Agricultural commodity** — The term “agricultural commodity” has the meaning given the term in [section 5602 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section5602&num=0&edition=prelim). (2) **Geographically disadvantaged farmer or rancher** — The term “geographically disadvantaged farmer or rancher” has the meaning given the term in section 10906(a) of the Farm Security and Rural Investment Act of 2002 ([7 U.S.C. 2204](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2204&num=0&edition=prelim) note; Public Law 107–171). **(b) Authorization** Subject to the availability of funds under subsection (d), the Secretary may provide geographically disadvantaged farmers or ranchers direct reimbursement payments for activities described in subsection (c). **(c) Transportation** (1) **In general** — Subject to paragraphs (2) and (3), the Secretary may provide direct reimbursement payments to a geographically disadvantaged farmer or rancher to transport an agricultural commodity, or inputs used to produce an agricultural commodity, during a fiscal year. (2) **Proof of eligibility** — To be eligible to receive assistance under paragraph (1), a geographically disadvantaged farmer or rancher shall demonstrate to the Secretary that transportation of the agricultural commodity or inputs occurred over a distance of more than 30 miles, as determined by the Secretary. (3) **Amount** (A) *In general* — Subject to paragraph (2), the amount of direct reimbursement payments made to a geographically disadvantaged farmer or rancher under this section for a fiscal year shall equal the product obtained by multiplying— (i) the amount of costs incurred by the geographically di

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Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 8731 — Special rule for long grain and medium grain rice

**(a) Calculation method** Subject to subsections (b) and (c), for the purposes of determining the amount of the counter-cyclical payments to be paid to the producers on a farm for long grain rice and medium grain rice under section 8714 11 See References in Text note below. of this title, the base acres of rice on the farm shall be apportioned using the 4-year average of the percentages of acreage planted in the applicable State to long grain rice and medium grain rice during the 2003 through 2006 crop years, as determined by the Secretary. **(b) Producer election** As an alternative to the calculation method described in subsection (a), the Secretary shall provide producers on a farm the opportunity to elect to apportion rice base acres on the farm using the 4-year average of— (1) the percentages of acreage planted on the farm to long grain rice and medium grain rice during the 2003 through 2006 crop years; (2) the percentages of any acreage on the farm that the producers were prevented from planting to long grain rice and medium grain rice during the 2003 through 2006 crop years because of drought, flood, other natural disaster, or other condition beyond the control of the producers, as determined by the Secretary; and (3) in the case of a crop year for which a producer on a farm elected not to plant to long grain and medium grain rice during the 2003 through 2006 crop years, the percentages of acreage planted in the applicable State to long grain rice and medium grain rice, as determined by the Secretary. **(c) Limitation** In carrying out this section, the Secretary shall use the same total base acres, payment acres, and payment yields established with respect to rice under sections 7911 and 7912 of this title, as in effect on September 30, 2007, subject to an

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Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 8732 — Period of effectiveness

This subchapter shall be effective beginning with the 2008 crop year of each covered commodity through the 2012 crop year.

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Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 7283 — Commodity Credit Corporation interest rate

**(a) In general** Notwithstanding any other provision of law, the monthly Commodity Credit Corporation interest rate applicable to loans provided for agricultural commodities by the Corporation shall be 100 basis points greater than the rate determined under the applicable interest rate formula in effect on October 1, 1995. **(b) Sugar** For purposes of this section, raw cane sugar, refined beet sugar, and in-process sugar eligible for a loan under [section 7272 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7272&num=0&edition=prelim) shall not be considered an agricultural commodity.

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Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 8736 — Payments in lieu of loan deficiency pay-

Page 2232 TITLE 7—AGRICULTURE § 8736 § 8736. Payments in lieu of loan deficiency pay- ments for grazed acreage (a) Eligible producers (1) In general Effective for the 2008 through 2012 crop years, in the case of a producer that would be eligible for a loan deficiency payment under section 8735 of this title for wheat, barley, or oats, but that elects to use acreage planted to the wheat, barley, or oats for the grazing of livestock, the Secretary shall make a payment to the producer under this section if the pro- ducer enters into an agreement with the Sec- retary to forgo any other harvesting of the wheat, barley, or oats on that acreage. (2) Grazing of triticale acreage Effective for the 2008 through 2012 crop years, with respect to a producer on a farm that uses acreage planted to triticale for the grazing of livestock, the Secretary shall make a payment to the producer under this section if the producer enters into an agreement with the Secretary to forgo any other harvesting of triticale on that acreage. (b) Payment amount (1) In general The amount of a payment made under this section to a producer on a farm described in subsection (a)(1) shall be equal to the amount determined by multiplying— (A) the loan deficiency payment rate de- termined under section 8735(c) of this title in effect, as of the date of the agreement, for the county in which the farm is located; by (B) the payment quantity determined by multiplying— (i) the quantity of the grazed acreage on the farm with respect to which the pro- ducer elects to forgo harvesting of wheat, barley, or oats; and (ii) the payment yield in effect for the calculation of direct payments under sub- chapter I with respect to that loan com- modity on the farm or, in the case of a farm wit

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