7 U.S.C. § 7960 — Repeal of superseded price support au-

Page 2144 TITLE 7—AGRICULTURE § 7960 B of subchapter II of chapter 35 of this title prior to re- peal by subsec. (a)(1) of this section. For complete clas- sification of this Act to the Code, see section 1281 of this title and Tables. CODIFICATION Section is comprised of section 1309 of Pub. L. 107–171. Subsec. (a)(1) of section 1309 of Pub. L. 107–171 repealed sections 1357 to 1359a of this title. Subsec. (h) of section 1309 amended sections 1361, 1371, 1373, and 1378 of this title. § 7960. Repeal of superseded price support au- thority and effect of repeal (a) Omitted (b) Disposal Notwithstanding any other provision of law or previous declaration made by the Secretary, the Secretary shall ensure that the disposal of all peanuts for which a loan for the 2001 crop of pea- nuts was made under section 7271 of this title be- fore May 13, 2002, is carried out in a manner that prevents price disruptions in the domestic and international markets for peanuts. (c) Treatment of crop insurance policies for 2002 crop year (1) Applicability This subsection shall apply for the 2002 crop year only notwithstanding any other provision of law or crop insurance policy. (2) Price election The nonquota price election for segregation I, II, and III peanuts shall be 17.75 cents per pound and shall be used for all aspects of the policy relating to the calculations of pre- mium, liability, and indemnities. (3) Quality adjustment For the purposes of quality adjustment only, the average support price per pound of peanuts shall be a price equal to 17.75 cents per pound. Quality under the crop insurance policy for peanuts shall be adjusted under procedures issued by the Federal Crop Insurance Corpora- tion. (Pub. L. 107–171, title I, § 1310, May 13, 2002, 116 Stat. 182.) Editorial Notes CODIFICATION Section is comprised of section 1310 of Pub. L. 107–171. Subsec. (a) of section 1310 of Pub. L. 107–171 amended sections 1428 and 1441 of this title and repealed 7271 of this title. SUBCHAPTER IV—SUGAR § 7971. Storage facility loans (a) In general Notwithstanding any other provision of law and as soon as practicable after May 13, 2002, the Commodity Credit Corporation shall amend part 1436 of title 7, Code of Federal Regulations, to establish a sugar storage facility loan program to provide financing for processors of domesti- cally-produced sugarcane and sugar beets to construct or upgrade storage and handling fa- cilities for raw sugars and refined sugars. (b) Eligible processors A storage facility loan described in subsection (a) shall be made available to any processor of domestically produced sugarcane or sugar beets that (as determined by the Secretary)— (1) has a satisfactory credit history; (2) has a need for increased storage capacity, taking into account the effects of marketing allotments; and (3) demonstrates an ability to repay the loan. (c) Term of loans A storage facility loan described in subsection (a) shall— (1) have a minimum term of 7 years; (2) not include any penalty for prepayment; and (3) be in such amounts and on such other terms and conditions (including terms and conditions relating to downpayments, collat- eral, and eligible facilities) as are normal, cus- tomary, and appropriate for the size and com- mercial nature of the borrower. (Pub. L. 107–171, title I, § 1402, May 13, 2002, 116 Stat. 187; Pub. L. 110–234, title I, § 1404, May 22, 2008, 122 Stat. 989; Pub. L. 110–246, § 4(a), title I, § 1404, June 18, 2008, 122 Stat. 1664, 1718.) Editorial Notes CODIFICATION Pub. L. 110–234 and Pub. L. 110–246 made identical amendments to this section. The amendments by Pub. L. 110–234 were repealed by section 4(a) of Pub. L. 110–246. AMENDMENTS 2008—Subsec. (c)(2), (3). Pub. L. 110–246, § 1404, added par. (2), redesignated former par. (2) as (3), and, in par. (3), inserted ‘‘other’’ after ‘‘on such’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2008 AMENDMENT Amendment of this section and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective May 22, 2008, the date of enactment of Pub. L. 110–234, see section 4 of Pub. L. 110–246, set out as an Effective Date note under section 8701 of this title. SUBCHAPTER V—DAIRY § 7981. Milk price support program (a) Support activities During the period beginning on June 1, 2002, and ending on December 31, 2007, the Secretary of Agriculture shall support the price of milk produced in the 48 contiguous States through the purchase of cheese, butter, and nonfat dry milk produced from the milk. (b) Rate During the period specified in subsection (a), the price of milk shall be supported at a rate equal to $9.90 per hundredweight for milk con- taining 3.67 percent butterfat. (c) Purchase prices (1) Uniform prices The support purchase prices under this sec- tion for each of the products of milk (butter,