Source: https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section9032&num=0&edition=prelim
Timestamp: 2019-09-21 13:03:57
Document Index: 112068849

Matched Legal Cases: ['§ 9032', '§1202', '§60101', '§1202', '§1202', '§1202', '§1202', '§1202']

[USC02] 7 USC 9032: Loan rates for nonrecourse marketing assistance loans
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7 USC 9032: Loan rates for nonrecourse marketing assistance loans Text contains those laws in effect on September 20, 2019
(a) 2014 through 2018 crop years
(b) 2019 through 2023 crop years
For purposes of each of the 2019 through 2023 crop years, the loan rate for a marketing assistance loan under section 9031 of this title for a loan commodity shall be equal to the following:
(1) In the case of wheat, $3.38 per bushel.
(2) In the case of corn, $2.20 per bushel.
(3) In the case of grain sorghum, $2.20 per bushel.
(4) In the case of barley, $2.50 per bushel.
(5) In the case of oats, $2.00 per bushel.
(6)(A) Subject to subparagraphs (B) and (C), in the case of base quality of upland cotton, the simple average of the adjusted prevailing world price for the 2 immediately preceding marketing years, as determined by the Secretary and announced October 1 preceding the next domestic planting.
(B) Except as provided in subparagraph (C), the loan rate determined under subparagraph (A) may not equal less than an amount equal to 98 percent of the loan rate for base quality of upland cotton for the preceding year.
(C) The loan rate determined under subparagraph (A) may not be equal to an amount-
(i) less than $0.45 per pound; or
(ii) more than $0.52 per pound.
(7) In the case of extra long staple cotton, $0.95 per pound.
(8) In the case of long grain rice, $7.00 per hundredweight.
(9) In the case of medium grain rice, $7.00 per hundredweight.
(10) In the case of soybeans, $6.20 per bushel.
(12) In the case of dry peas, $6.15 per hundredweight.
(13) In the case of lentils, $13.00 per hundredweight.
(14) In the case of small chickpeas, $10.00 per hundredweight.
(15) In the case of large chickpeas, $14.00 per hundredweight.
The Secretary shall establish a single loan rate in each county for each kind of other oilseeds described in subsections (a)(11) and (b)(11).
(d) Seed cotton
For purposes of section 9016 (b)(2) of this title and paragraphs (1)(B)(ii) and (2)(A)(ii)(II) of section 9017(b) of this title, the loan rate for seed cotton shall be deemed to be equal to $0.25 per pound.
Nothing in this subsection authorizes any nonrecourse marketing assistance loan under this subchapter for seed cotton.
( Pub. L. 113–79, title I, §1202, Feb. 7, 2014, 128 Stat. 675 ; Pub. L. 115–123, div. F, §60101(a)(9), Feb. 9, 2018, 132 Stat. 310 ; Pub. L. 115–334, title I, §1202(a), Dec. 20, 2018, 132 Stat. 4509 .)
2018-Subsec. (a). Pub. L. 115–334, §1202(a)(1), substituted "2014 through 2018 crop years" for "In general" in heading.
Subsec. (b). Pub. L. 115–334, §1202(a)(3), added subsec. (b). Former subsec. (b) redesignated (c).
Subsec. (c). Pub. L. 115–334, §1202(a)(2), (4), redesignated subsec. (b) as (c) and substituted "subsections (a)(11) and (b)(11)" for "subsection (a)(11)". Former subsec. (c) redesignated (d).
Pub. L. 115–123 added subsec. (c).
Subsec. (d). Pub. L. 115–334, §1202(a)(2), redesignated subsec. (c) as (d).
Amendment by Pub. L. 115–123 applicable beginning with the 2018 crop year, see section 60101(a)(13) of Pub. L. 115–123, set out as a note under section 9011 of this title.