7 U.S.C. § 7960 — Repeal of superseded price support authority and effect of repeal
submitted 24 years ago by Pub. L. 107-171 to r/title-7-AGRICULTURE · 187 words · no verdicts yet
This section requires the Secretary to dispose of certain 2001 peanut loans without disrupting peanut prices. It also sets temporary 2002 crop-insurance price rules.
(a) Omitted.
(b) Disposal. Despite any other law or earlier Secretary* declaration, the Secretary must ensure that peanuts covered by a 2001-crop loan made under section 7271 before May 13, 2002, are disposed of in a way that prevents price disruptions in domestic and international peanut markets.
(c) 2002 crop insurance. (1) This subsection applies only to the 2002 crop year, despite other law or an insurance policy. (2) For segregation I, II, and III peanuts, the nonquota price election is 17.75 cents per pound. The policy must use that price for calculating premiums, liability, and indemnities. (3) Only for quality adjustment, the average support price is 17.75 cents per pound. The Federal Crop Insurance Corporation must adjust peanut quality under its issued procedures.
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 peanuts was made under section 7271 of this title before May 13, 2002, is carried out in a manner that prevents price disruptions in the domestic and international markets for peanuts.
This subsection shall apply for the 2002 crop year only notwithstanding any other provision of law or crop insurance policy.
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 premium, liability, and indemnities.
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 Corporation.
Source credit: (Pub. L. 107–171, title I, § 1310, May 13, 2002, 116 Stat. 182.)
- 2002Enacted · Pub. L. 107-171 · 116 Stat. 182
A history note hasn’t been published yet. The record shows enactment by Pub. L. 107-171 on 2002-05-13.
all 0 arguments · sorted by: best
no arguments yet — make the first case