§ 7212. Elements of contracts

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1996

   Agricultural Market Transition Act

   Pub. L. 104–127 title I § 112 · 110 Stat. 888

   Enacted · 7 U.S.C. § 7212

   Pub. L. 104–127, title I, § 112, Apr. 4, 1996, 110 Stat. 899

   Source evidence

   Code source credit
   Pub. L. 104–127, title I, § 112, Apr. 4, 1996, 110 Stat. 899

   Enacted provision · exact public law section
   SEC. 112. ELEMENTS OF CONTRACTS. (a) Time for Contracting.— (1) Commencement.— To the extent practicable, the Secretary shall commence entering into contracts not later than 45 days after the date of enactment of this title. (2) Deadline.— Except as provided in paragraph (3), the Secretary may not enter into a contract after August 1, 1996. (3) Conservation reserve lands.— (A) In general.— At the beginning of each fiscal year, the Secretary shall allow an eligible owner or producer on a farm covered by a conservation reserve contract entered into under section 1231 of the Food Security Act of 1985 (16 U.S.C. 3831) that terminates after the date specified in paragraph (2) to enter into or expand a production flexibility contract to cover the contract acreage of the farm that was subject to the former conservation reserve contract. (B) Amount.— Contract payments made for contract acreage under this paragraph shall be made at the rate and amount applicable to the annual contract payment level for the applicable crop. For the fiscal year in which the conservation reserve contract is terminated, the owner or producer subject to the production flexibility contract may elect to receive either contract payments or a prorated payment under the conservation reserve contract, but not both. (b) Duration of Contract.— (1) Beginning date.— The term of a contract shall begin with— (A) the 1996 crop of a contract commodity; or (B) in the case of acreage that was subject to a conservation reserve contract described in subsection (a)(3), the date the production flexibility contract was entered into or expanded to cover the acreage. (2) Ending date.— The term of a contract shall extend through the 2002 crop, unless earlier terminated by the owner or producer. (c) Estimation of Contract Payments.— At the time the Secretary enters into a contract, the Secretary shall provide an estimate of the minimum contract payments anticipated to be made during at least the first fiscal year for which contract payments will be made. (d) Time for Payment.— (1) In general.— An annual contract payment shall be made not later than September 30 of each or fiscal years 1996 through 2002. (2) Advance payments.— (A) Fiscal year 1996.— At the option of the owner or producer, 50 percent of the contract payment for fiscal year 1996 shall be made not later than 30 days after the date on which the contract is entered into and approved by the Secretary and the owner or producer. (B) Subsequent fiscal years.— At the option of the owner or producer for fiscal year 1997 and each subsequent fiscal year, 50 percent of the annual contract payment shall be made on December 15 or January 15 of the fiscal year. The owner or producer may change the date selected under this subparagraph for a subsequent fiscal year by providing advance notice to the Secretary.

2. 1998

   Emergency Farm Financial Relief Act

   Pub. L. 105–228 § 2 · 112 Stat. 1516

   Added · 7 U.S.C. § 7212(d)(3)

   Pub. L. 105–228 added par. (3)

   Source evidence

   Code amendment note
   Subsec. (d)(3). Pub. L. 105–228 added par. (3).

   Enacted provision · exact public law section
   SEC. 2. SPECIAL RULE FOR FISCAL YEAR 1999 PAYMENT UNDER PRODUCTION FLEXIBILITY CONTRACTS. Section 112(d) of the Agricultural Market Transition Act (7 U.S.C. 7212(d)) is amended by adding at the end the following: “(3) Special Rule For Fiscal Year 1999.— Notwithstanding the requirements for making an annual contract payment specified in paragraphs (1) and (2), at the option of the owner or producer, the Secretary shall pay the full amount (or such portion as the owner or producer may specify) of the contract payment required to be paid for fiscal year 1999 at such time or times during that fiscal year as the owner or producer may specify.”.

3. 1999

   Pub. L. 106–78 title VIII § 811 · 113 Stat. 1135

   1. Struck · 7 U.S.C. § 7212(d)(3)

      Pub. L. 106–78, in par. heading, struck out “for fiscal year 1999” after “rule” and, in text

   2. Substituted · 7 U.S.C. § 7212(d)(3)

      Pub. L. 106–78, in par. heading, substituted “any of fiscal years 1999 through 2002” for “fiscal year 1999”

   Source evidence

   Code amendment note
   Subsec. (d)(3). Pub. L. 106–78, in par. heading, struck out “for fiscal year 1999” after “rule” and, in text, substituted “any of fiscal years 1999 through 2002” for “fiscal year 1999”.

   Enacted provision · exact public law section
   SEC. 811. AUTHORITY FOR ADVANCE PAYMENT IN FULL OF REMAINING PAYMENTS UNDER PRODUCTION FLEXIBILITY CONTRACTS. Section 112(d)(3) of the Agricultural Market Transition Act (7 U.S.C. 7212(d)(3)) is amended— (1) in the paragraph heading, by striking “for fiscal year 1999”; and (2) by striking “for fiscal year 1999” and inserting “for any of fiscal years 1999 through 2002”.

4 of 4 references resolved to an enrolled provision