Title 7 — Agriculture
Chapter 100 — Agricultural Market Transition
§ 7214. Determination of contract payments under contracts
Statutory text
Individual payment quantity of contract commodities
For each contract, the payment quantity of a contract commodity for each fiscal year shall be equal to the product of—
85 percent of the contract acreage; and
the farm program payment yield.
Annual payment quantity of contract commodities
The payment quantity of each contract commodity covered by all contracts for each fiscal year shall be equal to the sum of the amounts calculated under subsection (a) for each individual contract.
Annual payment rate
The payment rate for a contract commodity for each fiscal year shall be equal to—
the amount made available under section 7213 of this title for the contract commodity for the fiscal year; divided by
the amount determined under subsection (b) for the fiscal year.
Annual payment amount
The amount to be paid under a contract in effect for each fiscal year with respect to all contract commodities covered by the contract shall be equal to the sum of the products of—
the payment quantity determined under subsection (a) for each of the contract commodities covered by the contract; and
the corresponding payment rate for the contract commodity in effect under subsection (c).
Reduction in payment amount
The contract payment determined under subsection (d) for an owner or producer for a fiscal year shall be immediately reduced by the amount of any repayment of deficiency payments that is required under section 114(a)(2) of the Agricultural Act of 1949 (7 U.S.C. 1445j(a)(2)) and is not repaid as of the date the contract payment is determined. The Secretary shall be required to collect the required repayment, or any claim based on the required repayment, as soon as the contract payment is determined.
Assignment of contract payments
The provisions of section 590h(g) of title 16 (relating to assignment of payments) shall apply to contract payments under this section. The owner or producer making the assignment, or the assignee, shall provide the Secretary with notice, in such manner as the Secretary may require in the contract, of any assignment made under this subsection.
Sharing of contract payments
The Secretary shall provide for the sharing of contract payments among the owners and producers subject to the contract on a fair and equitable basis.
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.
Agricultural Market Transition Act
Pub. L. 104–127 title I § 114 · 110 Stat. 888
Enacted · 7 U.S.C. § 7214
(Pub. L. 104–127, title I, § 114, Apr. 4, 1996, 110 Stat. 901.)
Source evidence
Code source credit
(Pub. L. 104–127, title I, § 114, Apr. 4, 1996, 110 Stat. 901.)Enacted provision · exact public law section
SEC. 114. DETERMINATION OF CONTRACT PAYMENTS UNDER CONTRACTS. (a) Individual Payment Quantity of Contract Commodities.— For each contract, the payment quantity of a contract commodity for each fiscal year shall be equal to the product of— (1) 85 percent of the contract acreage; and (2) the farm program payment yield. (b) Annual Payment Quantity of Contract Commodities.— The payment quantity of each contract commodity covered by all contracts for each fiscal year shall be equal to the sum of the amounts calculated under subsection (a) for each individual contract. (c) Annual Payment Rate.— The payment rate for a contract commodity for each fiscal year shall be equal to— (1) the amount made available under section 113 for the contract commodity for the fiscal year; divided by (2) the amount determined under subsection (b) for the fiscal year. (d) Annual Payment Amount.— The amount to be paid under a contract in effect for each fiscal year with respect to all contract commodities covered by the contract shall be equal to the sum of the products of— (1) the payment quantity determined under subsection (a) for each of the contract commodities covered by the contract; and (2) the corresponding payment rate for the contract commodity in effect under subsection (c). (e) Reduction in Payment Amount.— The contract payment determined under subsection (d) for an owner or producer for a fiscal year shall be immediately reduced by the amount of any repayment of deficiency payments that is required under section 114(a)(2) of the Agricultural Act of 1949 (7 U.S.C. 1445j(a)(2)) and is not repaid as of the date the contract payment is determined. The Secretary shall be required to collect the required repayment, or any claim based on the required repayment, as soon as the contract payment is determined. (f) Assignment of Contract Payments.— The provisions of section 8(g) of the Soil Conservation and Domestic Allotment Act ( 16 U.S.C. 590h(g)) (relating to assignment of payments) shall apply to contract payments under this section. The owner or producer making the assignment, or the assignee, shall provide the Secretary with notice, in such manner as the Secretary may require in the contract, of any assignment made under this subsection. (g) Sharing of Contract Payments.— The Secretary shall provide for the sharing of contract payments among the owners and producers subject to the contract on a fair and equitable basis.
1 of 1 references resolved to an enrolled provision