Browse Arkansas Code titles and sections
15 U.S.C. § 714c — Specific powers of Corporation
Federal law — U.S. Code and appendices · legal_authorities
In the fulfillment of its purposes and in carrying out its annual budget programs submitted to and approved by the Congress pursuant to chapter 91 of title 31, the Corporation is authorized to use its general powers only to—
**(a)** Support the prices of agricultural commodities (other than tobacco) through loans, purchases, payments, and other operations.
**(b)** Make available materials and facilities required in connection with the production and marketing of agricultural commodities (other than tobacco).
**(c)** Procure agricultural commodities (other than tobacco) for sale to other Government agencies, foreign governments, and domestic, foreign, or international relief or rehabilitation agencies, and to meet domestic requirements.
**(d)** Remove and dispose of or aid in the removal or disposition of surplus agricultural commodities (other than tobacco).
**(e)** Increase the domestic consumption of agricultural commodities (other than tobacco) by expanding or aiding in the expansion of domestic markets or by developing or aiding in the development of new and additional markets, marketing facilities, and uses for such commodities.
**(f)** Export or cause to be exported, or aid in the development of foreign markets for, agricultural commodities (other than tobacco) (including fish and fish products, without regard to whether such fish are harvested in aquacultural operations).
**(g)** Carry out conservation or environmental programs authorized by law.
**(h)** Carry out such other operations as the Congress may specifically authorize or provide for.In the Corporation’s purchasing and selling operations with respect to agricultural commodities (other than tobacco) (except sales to other Government agencies), and in the warehousing, transporting, processing, or h
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 714c
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: 2d256a868e8ab42fb0bc93f55dd258ae87077410deaa80656ba597ac156b75f2. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_98eb8670d41d0f597bed5cd8
Source file: Laws/federal/codes/united-states-code/title-15/section-714c-specific-powers-of-corporation--b57945d552.md
Pages: Not recorded – Not recorded
Passage SHA-256: bf0ba7285feecb49e1c99a5b52525342a269d35ee3a81bd970fe6e6c5827c956
Source location: Title 15, Chapter 15, § 714c; chapter-015-economic-recovery.md
Stored source content
In the fulfillment of its purposes and in carrying out its annual budget programs submitted to and approved by the Congress pursuant to chapter 91 of title 31, the Corporation is authorized to use its general powers only to—
**(a)** Support the prices of agricultural commodities (other than tobacco) through loans, purchases, payments, and other operations.
**(b)** Make available materials and facilities required in connection with the production and marketing of agricultural commodities (other than tobacco).
**(c)** Procure agricultural commodities (other than tobacco) for sale to other Government agencies, foreign governments, and domestic, foreign, or international relief or rehabilitation agencies, and to meet domestic requirements.
**(d)** Remove and dispose of or aid in the removal or disposition of surplus agricultural commodities (other than tobacco).
**(e)** Increase the domestic consumption of agricultural commodities (other than tobacco) by expanding or aiding in the expansion of domestic markets or by developing or aiding in the development of new and additional markets, marketing facilities, and uses for such commodities.
**(f)** Export or cause to be exported, or aid in the development of foreign markets for, agricultural commodities (other than tobacco) (including fish and fish products, without regard to whether such fish are harvested in aquacultural operations).
**(g)** Carry out conservation or environmental programs authorized by law.
**(h)** Carry out such other operations as the Congress may specifically authorize or provide for.In the Corporation’s purchasing and selling operations with respect to agricultural commodities (other than tobacco) (except sales to other Government agencies), and in the warehousing, transporting, processing, or handling of agricultural commodities (other than tobacco), the Corporation shall, to the maximum extent practicable consistent with the fulfillment of the Corporation’s purposes and the effective and efficient conduct of its business, utilize the usual and customary channels, facilities, and arrangements of trade and commerce (including, at the option of the Corporation, the use of private sector entities).
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
In this subchapter and subchapter II:
(1) **Agricultural Act of 1949** — The term “Agricultural Act of 1949” means the Agricultural Act of 1949 ([7 U.S.C. 1421](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1421&num=0&edition=prelim) et seq.), as in effect on the day before October 22, 2004.
(2) **Agricultural Adjustment Act of 1938** — The term “Agricultural Adjustment Act of 1938” means the Agricultural Adjustment Act of 1938 ([7 U.S.C. 1281](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1281&num=0&edition=prelim) et seq.), as in effect on the day before October 22, 2004.
(3) **Considered planted** — The term “considered planted” means tobacco that was planted, but failed to be produced as a result of a natural disaster, as determined by the Secretary.
(4) **Contract** — The term “contract” means a contract entered into under section 518a or 518b of this title.
(5) **Contract payment** — The term “contract payment” means a payment made under section 518a or 518b of this title pursuant to a contract.
(6) **Producer of quota tobacco** — The term “producer of quota tobacco” means an owner, operator, landlord, tenant, or sharecropper that shared in the risk of producing tobacco on a farm where tobacco was produced or considered planted pursuant to a tobacco farm poundage quota or farm acreage allotment established under part I of subtitle B of title III of the Agricultural Adjustment Act of 1938 ([7 U.S.C. 1311](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1311&num=0&edition=prelim) et seq.).
(7) **Quota tobacco** — The term ‘quota tobacco’ 11 So in original. means a kind of tobacco that is subject to a farm marketing quota or farm acreage allotment for the 2004 tobacco marketin
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 518
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a)** Notwithstanding any other provision of law, none of the establishments or agencies named in subsection (b) of this section shall, after June 30, 1937, incur any obligations for administrative expenses, except pursuant to an annual appropriation specifically therefor, nor shall any such establishment or agency continue to function after said date unless established by or pursuant to law: Provided, That nothing contained in this section shall be construed to extend the period during which any such establishment or agency heretofore has been authorized by law to function.
**(b)** [1., 2. Repealed] 3. Federal Housing Administration; 4. Federal Surplus Commodities Corporation; 5. Export-Import Bank of the United States; 6. Second Export-Import Bank of Washington, District of Columbia; 7. Reconstruction Finance Corporation; 8. Electric Home and Farm Authority; 9. Commodity Credit Corporation; 10. Federal Emergency Administration of Public Works; [11. Repealed] 12. Reconstruction Finance Mortgage Company.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 712a
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
There is appropriated for each fiscal year beginning with the fiscal year ending June 30, 1936 an amount equal to 30 per centum of the gross receipts from duties collected under the customs laws during the period January 1 to December 31, both inclusive, preceding the beginning of each such fiscal year. Such sums shall be maintained in a separate fund and shall be used by the Secretary of Agriculture only to (1) encourage the exportation of agricultural commodities and products thereof by the payment of benefits in connection with the exportation thereof or of indemnities for losses incurred in connection with such exportation or by payments to producers in connection with the production of that part of any agricultural commodity required for domestic consumption; (2) encourage the domestic consumption of such commodities or products by diverting them, by the payment of benefits or indemnities or by other means, from the normal channels of trade and commerce or by increasing their utilization through benefits, indemnities, donations or by other means, among persons in low income groups as determined by the Secretary of Agriculture; and (3) reestablish farmers’ purchasing power by making payments in connection with the normal production of any agricultural commodity for domestic consumption. Determinations by the Secretary as to what constitutes diversion and what constitutes normal channels of trade and commerce and what constitutes normal production for domestic consumption shall be final. The sums appropriated under this section shall be expended for such one or more of the above-specified purposes, and at such times, in such manner, and in such amounts as the Secretary of Agriculture finds will effectuate substantial accomplishment of any one or more of the purposes
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 612c
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Notwithstanding any other provision of law—
**(a) Gasohol feedstock or food security reserves; establishment** Whenever the President or other member of the executive branch of Government causes the export of any agricultural commodity to any country or area of the world to be suspended or restricted for reasons of national security or foreign policy under the Export Administration Act of 1979 or any other provision of law and the Secretary of Agriculture determines that such suspension or restriction will result in a surplus supply of such commodity that will adversely affect prices producers receive for the commodity, the Secretary may establish a gasohol feedstock reserve or a food security reserve, or both, of the commodity, as provided in subsections (c) and (d) of this section, if the commodity is suitable for stockpiling in a reserve.
**(b) Announcement of intention to establish reserves; contents** Within thirty days after the export of any agricultural commodity to a country or area is suspended or restricted as described in subsection (a) of this section, the Secretary of Agriculture shall announce whether a gasohol feedstock reserve or a food security reserve of the commodity, or both, will be established under this section and shall include in such announcement the amount of the commodity that will be placed in such reserves, which shall be that portion of the estimated exports of the commodity affected by the suspension or restriction, as determined by the Secretary, that should be removed from the market to prevent the accumulation of a surplus supply of the commodity that will adversely affect prices producers receive for the commodity.
**(c) Acquisition of suitable agricultural commodities; payment of transportation and storage costs; disposition of a
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 4001
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
As used in this chapter, the phrase “fuel conversion price” means the price for an agricultural commodity determined by the Secretary of Agriculture that will permit gasoline-alcohol mixtures using alcohol produced from the commodity to be competitive in price with unleaded gasoline priced at the point it leaves the refinery, adjusted for differences in octane rating, taking into consideration the energy value of the commodity and other appropriate values designed to represent, on a national average basis, the value of byproducts also recoverable from the commodity; the direct costs and capital recovery costs for a grain alcohol distillery capable of producing forty million gallons of alcohol and recovering byproducts annually; and Federal tax and other Federal incentives applicable to alcohol used for fuel.
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 4005
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section 515, act Apr. 25, 1936, ch. 249, § 1, 49 Stat. 1239, related to tobacco production compacts between States.
Section 515a, act Apr. 25, 1936, ch. 249, § 2, 49 Stat. 1240, defined terms as used in this chapter.
Section 515b, act Apr. 25, 1936, ch. 249, § 3, 49 Stat. 1240, related to advancement of funds for administrative expenses.
Section 515c, act Apr. 25, 1936, ch. 249, § 4, 49 Stat. 1240, related to designation of persons to provide advice with compact administration.
Section 515d, act Apr. 25, 1936, ch. 249, § 5, 49 Stat. 1240, related to loans to certain associations of tobacco producers.
Section 515e, act Apr. 25, 1936, ch. 249, § 6, 49 Stat. 1241, related to availability of Department of Agriculture records and facilities.
Section 515f, act Apr. 25, 1936, ch. 249, § 7, 49 Stat. 1241, authorized appropriations and provided for disposition of repayments of advances or loans.
Section 515g, act Apr. 25, 1936, ch. 249, § 8, 49 Stat. 1241, related to availability of funds to other agencies.
Section 515h, act Apr. 25, 1936, ch. 249, § 9, 49 Stat. 1241, related to effect of compacts between States producing cigar tobacco on Puerto Rican commerce.
Section 515i, act Apr. 25, 1936, ch. 249, § 10, 49 Stat. 1242, related to disposition of receipts from sales of marketing certificates.
Section 515j, act Apr. 25, 1936, ch. 249, § 11, 49 Stat. 1242, related to separability of provisions.
Section 515k, act Apr. 25, 1936, ch. 249, § 12, 49 Stat. 1242, authorized promulgation of rules and regulations.
#### Effective Date of Repeal
Repeal applicable to the 2005 and subsequent crops of tobacco, see section 643 of Pub. L. 108–357, set out as an Effective Date note under [section 518 of this title](https://uscode.house.gov/view.xhtml?req=granulei
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 515 to 515k
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Contract offered** The Secretary shall offer to enter into a contract with each tobacco quota holder under which the tobacco quota holder shall be entitled to receive payments under this section in exchange for the termination of tobacco marketing quotas and related price support under the amendments made by sections 611 and 612.11 See References in Text note below. The contract payments shall constitute full and fair consideration for the termination of such tobacco marketing quotas and related price support.
**(b) Eligibility** To be eligible to enter into a contract to receive a contract payment under this section, a person shall submit to the Secretary an application containing such information as the Secretary may require to demonstrate to the satisfaction of the Secretary that the person is a tobacco quota holder. The application shall be submitted within such time, in such form, and in such manner as the Secretary may require.
**(c) Base quota level**
(1) **Establishment** — The Secretary shall establish a base quota level applicable to each tobacco quota holder identified under subsection (b).
(2) **Poundage quotas** — Subject to adjustment under subsection (d), for each kind of tobacco for which the marketing quota is expressed in pounds, the base quota level for each tobacco quota holder shall be equal to the basic quota for quota tobacco established for the 2002 tobacco marketing year under a marketing quota program established under part I of subtitle B of title III of the Agriculture 22 So in original. Probably should be “Agricultural”. Adjustment Act of 1938 [[7 U.S.C. 1311](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1311&num=0&edition=prelim) et seq.] on the farm owned by the tobacco quota holder.
(3) **Marketing
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 518a
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Contract offered** The Secretary shall offer to enter into a contract with each producer of quota tobacco under which the producer of quota tobacco shall be entitled to receive payments under this section in exchange for the termination of tobacco marketing quotas and related price support under the amendments made by sections 611 and 612.11 See References in Text note below. The contract payments shall constitute full and fair consideration for the termination of such tobacco marketing quotas and related price support.
**(b) Eligibility**
(1) **Application and determination** — To be eligible to enter into a contract to receive a contract payment under this section, a person shall submit to the Secretary an application containing such information as the Secretary may require to demonstrate to the satisfaction of the Secretary that the person is a producer of quota tobacco. The application shall be submitted within such time, in such form, and in such manner as the Secretary may require.
(2) **Effect of multiple producers for same quota tobacco** — If, on the basis of the applications submitted under paragraph (1) or other information, the Secretary determines that two or more persons are a producer of the same quota tobacco, the Secretary shall provide for an equitable distribution among the persons of the contract payments made under this section with respect to that quota tobacco, based on relative share of such persons in the risk of producing the quota tobacco and such other factors as the Secretary considers appropriate.
**(c) Base quota level**
(1) **Establishment** — The Secretary shall establish a base quota level applicable to each producer of quota tobacco, as determined under this subsection.
(2) **Flue-cured and burley tobacco** — In the case of
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 518b
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Time for payment of contract payments** Contract payments required to be made for a fiscal year shall be made by the Secretary as soon as practicable.
**(b) Use of county committees to resolve disputes** Any dispute regarding the eligibility of a person to enter into a contract or to receive contract payments, and any dispute regarding the amount of a contract payment, may be appealed to the county committee established under [section 590h of title 16](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title16-section590h&num=0&edition=prelim) for the county or other area in which the farming operation of the person is located.
**(c) Role of National Appeals Division** Any adverse determination of a county committee under subsection (b) may be appealed to the National Appeals Division established under subtitle H of the Department of Agriculture Reorganization Act of 1994 ([7 U.S.C. 6991](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section6991&num=0&edition=prelim) et seq.).
**(d) Use of financial institutions** The Secretary may use a financial institution to manage assets, make contract payments, and otherwise carry out this title.11 See References in Text note below.
**(e) Payment to financial institutions** The Secretary shall permit a tobacco quota holder or producer of quota tobacco entitled to contract payments to assign to a financial institution the right to receive the contract payments. Upon receiving notification of the assignment, the Secretary shall make subsequent contract payments for the tobacco quota holder or producer of quota tobacco directly to the financial institution designated by the tobacco quota holder or producer of quota tobacco. The Secretary shall make information available to tobacco quota holde
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 518c
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment** There is established in the Commodity Credit Corporation a revolving trust fund, to be known as the “Tobacco Trust Fund”, which shall be used in carrying out this subchapter. The Tobacco Trust Fund shall consist of the following:
(1) Assessments collected under [section 518d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section518d&num=0&edition=prelim).
(2) Such amounts as are necessary from the Commodity Credit Corporation.
(3) Any interest earned on investment of amounts in the Tobacco Trust Fund under subsection (c).
**(b) Expenditures**
(1) **Authorized expenditures** — Subject to paragraph (2), and notwithstanding any other provision of law, the Secretary shall use amounts in the Tobacco Trust Fund, in such amounts as the Secretary determines are necessary—
(A) to make payments under sections 518a and 518b of this title;
(B) to provide reimbursement under [section 519(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section519/c&num=0&edition=prelim);
(C) to reimburse the Commodity Credit Corporation for costs incurred by the Commodity Credit Corporation under paragraph (2); and
(D) to make payments to financial institutions to satisfy contractual obligations under section 518a or 518b of this title.
(2) **Expenditures by Commodity Credit Corporation** — Notwithstanding any other provision of law, the Secretary shall use the funds, facilities, and authorities of the Commodity Credit Corporation to make payments described in paragraph (1). Not later than January 1, 2015, the Secretary shall use amounts in the Tobacco Trust Fund to fully reimburse, with interest, the Commodity Credit Corporation for all funds of the Commodity Credit Corporation expended
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 518e
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.