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7 U.S.C. § 7283 — Commodity Credit Corporation interest rate

submitted 30 years ago by Pub. L. 104-127 to r/title-7-AGRICULTURE · 82 words · no verdicts yet

in plain englishAI-generated · not legal advice

(a) In general Even if another law says otherwise, the monthly Commodity Credit Corporation interest rate applicable to loans provided for agricultural commodities by the Corporation must be 100 basis points greater than the rate decided under the applicable interest rate formula in effect on October 1, 1995 . (b) Sugar For purposes of this section, raw cane sugar, refined beet sugar, and in-process sugar eligible for a loan under section 7272 of this title must not be considered an agricultural commodity.

(a) In general Even if another law says otherwise, the monthly Commodity Credit Corporation interest rate applicable to loans provided for agricultural commodities by the Corporation must be 100 basis points greater than the rate decided under the applicable interest rate formula in effect on October 1, 1995 . (b) Sugar For purposes of this section, raw cane sugar, refined beet sugar, and in-process sugar eligible for a loan under section 7272 of this title must not be considered an agricultural commodity.

the actual law source: uscode.house.gov ↗public domain
(a) In general

Notwithstanding any other provision of law, the monthly Commodity Credit Corporation interest rate applicable to loans provided for agricultural commodities by the Corporation shall be 100 basis points greater than the rate determined under the applicable interest rate formula in effect on October 1, 1995.

(b) Sugar

For purposes of this section, raw cane sugar, refined beet sugar, and in-process sugar eligible for a loan under section 7272 of this title shall not be considered an agricultural commodity.

Source credit: (Pub. L. 104–127, title I, § 163, Apr. 4, 1996, 110 Stat. 935; Pub. L. 107–171, title I, § 1401(c), May 13, 2002, 116 Stat. 187.)

history & why it existsrecord from the source credit
  • 1996Enacted · Pub. L. 104-127 · 110 Stat. 935
  • 2002Amended · Pub. L. 107-171 · 116 Stat. 187

A history note hasn’t been published yet. The record shows enactment by Pub. L. 104-127 on 1996-04-04.

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