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7 U.S.C. § 7936 — Loan deficiency payments

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

7 U.S.C. § 7936 — Loan deficiency payments

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Source location: Title 7, Chapter 106, § 7936; chapter-106-commodity-programs.md

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**(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 7931 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7931&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** — 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 7931 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7931&num=0&edition=prelim). However, effective for the 2002 through 2007 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 7931 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7931&num=0&edition=prelim). **(c) Payment rate** (1) **In general** — In the case of a loan commodity, the payment rate shall be the amount by which— (A) the loan rate established under [section 7932 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7932&num=0&edition=prelim) for the loan commodity; exceeds (B) the rate at which a marketing assistance loan for the loan commodity may be repaid under [section 7934 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7934&num=0&edition=prelim). (2) **Unshorn pelts** — In the case of unshorn pelts, the payment rate shall be the amount by which— (A) the loan rate established under [section 7932 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7932&num=0&edition=prelim) for ungraded wool; exceeds (B) the rate at which a marketing assistance loan for ungraded wool may be repaid under [section 7934 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7934&num=0&edition=prelim). (3) **Hay and silage** — In the case of hay or silage derived from a loan commodity, the payment rate shall be the amount by which— (A) the loan rate established under [section 7932 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7932&num=0&edition=prelim) for the loan commodity from which the hay or silage is derived; exceeds (B) the rate at which a marketing assistance loan for the loan commodity may be repaid under [section 7934 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7934&num=0&edition=prelim). **(d) Exception for extra long staple cotton** This section shall not apply with respect to extra long staple cotton. **(e) Effective date for payment rate determination** The Secretary shall determine the amount of the loan deficiency payment to be made under this section to the producers on a farm with respect to a quantity of a loan commodity or commodity referred to in subsection (a)(2) using the payment rate in effect under subsection (c) as of the date the producers request the payment. **(f) Special loan deficiency payment rules** (1) **First-time loan commodities** — For the 2002 crop of wool, mohair, honey, dry peas, lentils and small chickpeas, in the case of producers of such a crop that would be eligible for a loan deficiency payment under this section except for the fact that the producers lost beneficial interest in the crop prior to the date of publication of the regulations implementing this section, the producers shall be eligible for a loan deficiency payment as of the date producers marketed or otherwise lost beneficial interest in the crop, as determined by the Secretary. (2) **Omitted**

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

7 U.S.C. § 7932 — Availability of nonrecourse marketing assistance loans for loan commodities

**(a) Nonrecourse loans available** (1) **Availability** — 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) **Terms and conditions** — 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7932&num=0&edition=prelim) for the loan commodity. **(b) Eligible production** 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) Treatment of certain commingled commodities** 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7286&num=0&edition=prelim)). **(d) Compliance with conservation and wetlands requirements** 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

Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 7932

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

7 U.S.C. § 7235 — Loan deficiency payments

**(a) Availability of loan deficiency payments** Except as provided in subsection (d), the Secretary may make loan deficiency payments available to— (1) producers who, although eligible to obtain a marketing assistance loan under [section 7231 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7231&num=0&edition=prelim) with respect to a loan commodity, agree to forgo obtaining the loan for the commodity in return for payments under this section; and (2) effective only for the 2000 and 2001 crop years, producers that, although not eligible to obtain such a marketing assistance loan under [section 7231 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7231&num=0&edition=prelim), produce a contract commodity. **(b) Computation** A loan deficiency payment under this section shall be computed by multiplying— (1) the loan payment rate determined under subsection (c) for the loan commodity; by (2) the quantity of the loan commodity produced by the eligible producers, excluding any quantity for which the producers obtain a loan under [section 7231 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7231&num=0&edition=prelim). **(c) Loan payment rate** For purposes of this section, the loan payment rate shall be the amount by which— (1) the loan rate established under [section 7232 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7232&num=0&edition=prelim) for the loan commodity; exceeds (2) the rate at which a loan for the commodity may be repaid under [section 7234 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7234&num=0&edition=prelim). **(d) Exception for extra long

Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 7235

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

7 U.S.C. § 7934 — Term of loans

**(a) Term of loan** In the case of each loan commodity, a marketing assistance loan under [section 7931 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7931&num=0&edition=prelim) shall have a term of 9 months beginning on the first day of the first month after the month in which the loan is made. **(b) Extensions prohibited** The Secretary may not extend the term of a marketing assistance loan for any loan commodity.

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

7 U.S.C. § 7931 — Period of effectiveness

This subchapter shall be effective beginning with the 2002 crop year of each covered commodity through the 2007 crop year.

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

7 U.S.C. § 7936 — Payments in lieu of loan deficiency pay-

Page 2130 TITLE 7—AGRICULTURE § 7935 and small chickpeas, see section 763(d) of Pub. L. 108–7, set out as a note under section 7901 of this title. § 7935. 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, al- though eligible to obtain a marketing assist- ance loan under section 7931 of this title with respect to a loan commodity, agree to forgo obtaining the loan for the commodity in re- turn for loan deficiency payments under this section. (2) Unshorn pelts, hay, and silage Nongraded wool in the form of unshorn pelts and hay and silage derived from a loan com- modity are not eligible for a marketing assist- ance loan under section 7931 of this title. How- ever, effective for the 2002 through 2007 crop years, the Secretary may make loan defi- ciency 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 com- modity or commodity referred to in subsection (a)(2) shall be computed by multiplying— (1) the payment rate determined under sub- section (c) for the commodity; by (2) the quantity of the commodity produced by the eligible producers, excluding any quan- tity for which the producers obtain a mar- keting assistance loan under section 7931 of this title. (c) Payment rate (1) In general In the case of a loan commodity, the pay- ment rate shall be the amount by which— (A) the loan rate established under section 7932 of this title for the loan commodity; ex- ceeds (B) the rate at which a marketing assist- ance loan for the loan commodity may be re- paid u

Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 7936

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