View all text of Subchapter III [§ 7231 - § 7237]
In this subsection, the term “high moisture state” means corn or grain sorghum having a moisture span in excess of Commodity Credit Corporation standards for marketing assistance loans made by the Secretary under section 7231 of this title.
For each of the 1996 through 2002 crops of upland cotton, the Secretary shall make available recourse seed cotton loans, as determined by the Secretary, to producers on a farm containing eligible cropland covered by a production flexibility contract.
For each of the 1996 through 2002 crops of extra long staple cotton, the Secretary shall make available recourse seed cotton loans, as determined by the Secretary, on any production.
Notwithstanding any other provision of law, during fiscal year 1999, the Secretary shall make available recourse loans, as determined by the Secretary, to producers of mohair produced during or before that fiscal year.
The loan rate for a loan under paragraph (1) shall be equal to $2.00 per pound.
A loan under paragraph (1) shall have a term of 1 year beginning on the first day of the first month after the month in which the loan is made.
Notwithstanding subsection (d), the Secretary shall not charge interest on a loan made under paragraph (1).
Repayment of a recourse loan made under this section shall be at the loan rate established for the commodity by the Secretary, plus interest (as determined by the Secretary).