distillery, or other similar entity approved 
by the Secretary, pursuant to regulations 
issued by the Secretary; or 
(ii) field or other physical measure-
ments of the standing or stored crop in re-
gions of the United States, as determined by 
the Secretary, that do not have certified 
commercial scales from which certified scale 
tickets may be obtained within reasonable 
proximity of harvest operation; 
(C) certify that they were the owners of the 
feed grain at the time of delivery to, and that the 
quantity to be placed under loan under this sub-
section was in fact harvested on the farm and de-
livered to, a feedlot, feed mill, or commercial or 
on-farm high-moisture storage facility, or to a 
facility maintained by the users of corn and 
grain sorghum in a high moisture state; and 
(D) comply with deadlines established by 
the Secretary for harvesting the corn or grain 
sorghum and submit applications for loans 
under this subsection within deadlines estab-
lished by the Secretary. 
(3) ELIGIBILITY OF ACQUIRED FEED GRAINS.— 
A loan under this subsection shall be made on a 
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quantity of corn or grain sorghum of the same crop 
acquired by the producer equivalent to a quantity de-
termined by multiplying— 
(A) the acreage of the corn or grain sor-
ghum in a high moisture state harvested on the 
producer’s farm; by 
(B) the lower of the farm program payment 
yield used to make counter-cyclical payments 
under subtitle A or the actual yield on a field, 
as determined by the Secretary, that is similar 
to the field from which the corn or grain sor-
ghum was obtained. 
(b) RECOURSE LOANS AVAILABLE FOR SEED COT-
TON.—For each of the 2008 through 2012 crops of upland 
cotton and extra long staple cotton, the Secretary shall make 
available recourse seed cotton loans, as determined by the 
Secretary, on any production. 
(c) REPAYMENT RATES.—Repayment of a recourse 
loan made under this section shall be at the loan rate estab-
lished for the commodity by the Secretary, plus interest (de-
termined in accordance with section 163 of the Federal Ag-
riculture Improvement and Reform Act of 1996 (7 U.S.C. 
7283)). 
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SEC. 1210. DEADLINE FOR REPAYMENT OF MARKETING AS-
SISTANCE LOAN FOR PEANUTS. 
(a) JUNE
30 REDEMPTION
DEADLINE.—Notwith-
standing any other provision of law, a marketing assistance 
loan for peanuts may not be redeemed after June 30 of the 
year subsequent to the year in which the peanuts were har-
vested. 
(b) EFFECT OF FAILURE TO REDEEM.—A marketing 
assistance loan for peanuts that is not redeemed before the 
deadline imposed by subsection (a) shall be deemed to be 
forfeited to the Commodity Credit Corporation. 
SEC. 1211. COMMODITY QUALITY INCENTIVE PAYMENTS 
FOR HEALTHY OILSEEDS. 
(a) INCENTIVE PAYMENTS REQUIRED.—Subject to the 
availability of funds for this purpose, the Secretary shall 
provide commodity quality incentive payments during the 
2009 through 2013 crop years for the production of oilseeds 
with specialized traits that enhance human health, as deter-
mined by the Secretary. 
(b) COVERED OILSEEDS.—The Secretary shall make 
payments under this section only for the production of an 
oilseed that has, as determined by the Secretary— 
(1) been demonstrated to reduce or eliminate the 
need to partially hydrogenate the oil derived from the 
oilseed for use in human consumption; and 
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(2) 1 or more traits for which compelling im-
pediments to commercialization have been identified. 
(c) REQUEST FOR PROPOSALS.— 
(1) ISSUANCE.—If funds are available to carry 
out this section for a crop year, the Secretary shall 
issue a request for proposals for payments under this 
section. 
(2) MULTIYEAR
PROPOSALS.—An entity may 
submit a multiyear proposal for payments under this 
section. 
(3) CONTENT OF PROPOSALS.—A proposal for 
payments under this section shall include a descrip-
tion of— 
(A) each trait of the oilseed described in 
subsection (b)(2) and the value of the trait as a 
matter of public policy; 
(B) the projected market size and value of 
the trait; 
(C) the projected impact of the proposal 
on— 
(i) the future price of loan commod-
ities; and 
(ii) if appropriate, on Federal Govern-
ment farm program outlays to support loan 
commodities; 
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(D) a range for the amount of total per 
bushel premiums to be paid to producers; 
(E) a per bushel amount of incentive pay-
ments requested for each year under this section 
that— 
(i) does not exceed 1⁄3 of the total pre-
mium offered for any year; and 
(ii) declines over time; 
(F) the period of time, of not to exceed 4 
years, during which incentive payments are to be 
provided to producers; and 
(G) the targeted total quantity of produc-
tion and estimated acres needed to produce the 
targeted quantity for each year under this sec-
tion. 
(d) CONTRACTS FOR PRODUCTION.— 
(1) IN GENERAL.—The Secretary shall approve 
successful proposals submitted under subsection (c) on 
a timely basis so as to allow successful applicants to 
offer production contracts to producers beginning in 
advance of the spring planting season for the 2009 
crop year. 
(2) MULTIYEAR CONTRACTS.—A successful appli-
cant may enter into a multiyear contract with— 
(A) a specific group of producers; or 
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