7 U.S.C. § 1426 — Untitled legal text

Page 712 TITLE 7—AGRICULTURE § 1426 used by the Secretary of Agriculture to provide total amount of payments and/or total amount of loan for- feitures to a person to support the price of honey under this section or former section 1446h of this title in ex- cess of zero dollars in the 1994, 1995, and 1996 crop years. Similar provisions were contained in the following prior appropriation acts: Pub. L. 103–330, title VII, § 723, Sept. 30, 1994, 108 Stat. 2469. Pub. L. 103–111, title VII, § 728, Oct. 21, 1993, 107 Stat. 1081. § 1426. Repealed. Pub. L. 104–127, title I, § 171(b)(2)(I), Apr. 4, 1996, 110 Stat. 938 Section, acts Oct. 31, 1949, ch. 792, title IV, § 406, 63 Stat. 1055; Dec. 23, 1985, Pub. L. 99–198, title X, § 1016, 99 Stat. 1457; Nov. 28, 1990, Pub. L. 101–624, title XI, § 1129, 104 Stat. 3508; Dec. 13, 1991, Pub. L. 102–237, title I, § 113(11), 105 Stat. 1838, provided for advance announce- ment of price support levels. § 1427. Commodity Credit Corporation sales price restrictions (a) In general The Commodity Credit Corporation may sell any farm commodity owned or controlled by the Corporation at any price not prohibited by this section. (b) Inventories In determining sales policies for basic agricul- tural commodities or storable nonbasic com- modities, the Corporation should consider the establishment of such policies with respect to prices, terms, and conditions as the Corporation determines will not discourage or deter manu- facturers, processors, and dealers from acquiring and carrying normal inventories of the com- modity of the current crop. (c) Sales price restrictions (1) In general Except as otherwise provided in this section, the Corporation shall not sell any basic agri- cultural commodity or storable nonbasic com- modity at less than 115 percent of the lower of— (A) the current national average price sup- port loan rate for the commodity adjusted for the current market differentials reflect- ing grade, quality, location, reasonable car- rying charges, and other factors determined appropriate by the Corporation; or (B) the loan repayment level. (2) Extra long staple cotton The Corporation may sell extra long staple cotton for unrestricted use at such price as the Corporation determines is appropriate to maintain and expand export and domestic markets. (3) Oilseeds The Corporation shall not sell oilseeds at less than the lower of— (A) 105 percent of the current national av- erage price support loan rate for the oilseed, adjusted for the current market differentials reflecting grade, quality, location, reason- able carrying charges, and other factors de- termined appropriate by the Corporation; or (B) 115 percent of the loan repayment level. (4) Wheat and feed grains Whenever the producer reserve program for wheat and feed grains established under sec- tion 1445e of this title is in effect, the Corpora- tion may not sell any of its stocks of wheat or feed grains at a level that is less than 150 per- cent of the then current loan rate for wheat or feed grains. (5) Upland cotton The Commodity Credit Corporation shall sell upland cotton for unrestricted use at the same price the Corporation sells upland cotton for export, but in no event at less than the amount provided for in paragraph (1). (d) Nonapplication of sales price restrictions The foregoing restrictions of this section shall not apply to— (1) sales for new or byproduct uses; (2) sales of peanuts and oilseeds for the ex- traction of oil; (3) sales for seed or feed if the sales will not substantially impair any price support pro- gram; (4) sales of commodities that have substan- tially deteriorated in quality or as to which there is a danger of loss or waste through dete- rioration or spoilage; (5) sales for the purpose of establishing claims arising out of contract or against per- sons who have committed fraud, misrepresen- tation, or other wrongful acts with respect to the commodity; (6) sales for export (excluding sales of upland cotton for export); (7) sales of wool; and (8) sales for other than primary uses. (e) Distress, disaster, and livestock emergency areas (1) In general Notwithstanding the foregoing provisions of this section, the Corporation, on such terms and conditions as the Secretary may consider in the public interest, may— (A) make available any farm commodity or product thereof owned or controlled by the Corporation for use in relieving dis- tress— (i) in any area in the United States (in- cluding the Virgin Islands) declared by the President to be an acute distress area be- cause of unemployment or other economic cause, if the President finds that the use will not displace or interfere with normal marketing of agricultural commodities; and (ii) in connection with any major dis- aster determined by the President to war- rant assistance by the Federal Govern- ment under the Disaster Relief and Emer- gency Assistance Act (42 U.S.C. 5121 et seq.); and (B) donate or sell commodities in accord- ance with subchapter V. (2) Costs Except on a reimbursable basis, the Corpora- tion shall not bear any costs in connection with making the commodity available under