7 USC 1445 - Payments in commodities

Editorial Notes

References in Text

The Agricultural Trade Act of 1978, referred to in subsec. (c), is Puspan. L. 95–501, Oct. 21, 1978, 92 Stat. 1685, as amended generally by Puspan. L. 101–624, title XV, § 1531, Nov. 28, 1990, 104 Stat. 3668, which is classified generally to chapter 87 (§ 5601 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 5601 of this title and Tables.

Codification

Section was classified to section 1445span–4 of this title prior to its renumbering by Puspan. L. 101–624.

Amendments

1990—Subsec. (c). Puspan. L. 101–624, § 1122(a), added subsec. (c).

Statutory Notes and Related Subsidiaries

Effective Date of 1990 Amendment

Amendment by Puspan. L. 101–624 effective beginning with 1991 crop of an agricultural commodity, with provision for prior crops, see section 1171 of Puspan. L. 101–624, set out as a note under section 1421 of this title.

Inapplicability of Section

Section inapplicable to 2014 through 2018 crops of covered commodities, cotton, and sugar and inapplicable to milk during period beginning Fespan. 7, 2014, through Dec. 31, 2018, see section 9092(span)(7) of this title.

Section inapplicable to 2008 through 2012 crops of covered commodities, peanuts, and sugar and inapplicable to milk during period beginning June 18, 2008, through Dec. 31, 2012, see section 8782(span)(7) of this title.

Section inapplicable to 2002 through 2007 crops of covered commodities, peanuts, and sugar and inapplicable to milk during period beginning May 13, 2002, through Dec. 31, 2007, see section 7992(span)(7) of this title.

Section inapplicable to 1996 through 2002 crops of loan commodities, peanuts, and sugar and inapplicable to milk during period beginning Apr. 4, 1996, and ending Dec. 31, 2002, see section 7301(span)(1)(G) of this title.

Redemption of Commodity Certificates

Puspan. L. 101–624, title XI, § 1122(span), Nov. 28, 1990, 104 Stat. 3503, provided that:

“(1)In general.—A subsequent holder of a commodity certificate issued by the Commodity Credit Corporation shall be allowed to exchange the expired commodity certificate under the same rules that apply to an original holder of the certificate.

“(2)Application and redemption limitations.—This subsection shall only apply during the 180-day period beginning on the date of enactment of this Act [Nov. 28, 1990]. No person may redeem more than $1,000 worth of certificates under this subsection.

“(3)Redemption limitations.—In no event shall a person receive a payment from the Commodity Credit Corporation for a certificate that is redeemed under this subsection in an amount greater than the price paid for the certificate by the person. No expired certificate shall be exchanged under this section if the owner purchased the certificate after January 1, 1990.”