Title 7 — Agriculture
Chapter 113 — Agricultural Commodity Support Programs
§ 8758. Adjustments of loans
Statutory text
Adjustment authority
The Secretary may make appropriate adjustments in the loan rates for peanuts for differences in grade, type, quality, location, and other factors.
Manner of adjustment
The adjustments under subsection (a) shall, to the maximum extent practicable, be made in such a manner that the average loan level for peanuts will, on the basis of the anticipated incidence of the factors, be equal to the level of support determined in accordance with this subchapter and subtitles B, D, and E.
Adjustment on county basis
In general
Subject to paragraph (2), the Secretary may establish loan rates for a crop of peanuts for producers in individual counties in a manner that results in the lowest loan rate being 95 percent of the national average loan rate, if those loan rates do not result in an increase in outlays.
Prohibition
Adjustments under this subsection shall not result in an increase in the national average loan rate for any year.
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.
Pub. L. 110–234 title I § 1308 · 122 Stat. 923
Enacted · 7 U.S.C. § 8758
Pub. L. 110–234, title I, § 1308, May 22, 2008, 122 Stat. 977
Source evidence
Code source credit
Pub. L. 110–234, title I, § 1308, May 22, 2008, 122 Stat. 977Enacted provision · exact public law section
SEC. 1308. ADJUSTMENTS OF LOANS. (a) Adjustment Authority.— The Secretary may make appropriate adjustments in the loan rates for peanuts for differences in grade, type, quality, location, and other factors. (b) Manner of Adjustment.— The adjustments under subsection (a) shall, to the maximum extent practicable, be made in such a manner that the average loan level for peanuts will, on the basis of the anticipated incidence of the factors, be equal to the level of support determined in accordance with this subtitle and subtitles B, D, and E. (c) Adjustment on County Basis.— (1) In general.— Subject to paragraph (2), the Secretary may establish loan rates for a crop of peanuts for producers in individual counties in a manner that results in the lowest loan rate being 95 percent of the national average loan rate, if those loan rates do not result in an increase in outlays. (2) Prohibition.— Adjustments under this subsection shall not result in an increase in the national average loan rate for any year.
1 of 1 references resolved to an enrolled provision
Editorial Notes
References in Text
Subtitles B, D, and E, referred to in subsec. (b), are subtitles B (§ 1201 et seq.), D (§ 1401 et seq.), and E (§ 1501 et seq.), respectively, of title I of Pub. L. 110–246, , 122 Stat. 1681. Subtitle B is classified generally to subchapter II (§ 8731 et seq.) of this chapter. Subtitle D enacted sections 1359kk, 1359ll, and 7287 of this title, amended sections 1359aa to 1359gg, 1359ii, 7272, and 7971 of this title, repealed former section 1359kk of this title, and enacted provisions set out as notes under sections 3602 and 7272 of this title. Subtitle E enacted subchapter IV (§ 8771 et seq.) of this chapter and amended sections 608c, 1637b, 4502, 4504, 4531, and 4553 of this title and section 713a–14 of Title 15, Commerce and Trade. For complete classification of subtitles B, D, and E to the Code, see Tables.
Codification
Pub. L. 110–234 and Pub. L. 110–246 enacted identical sections. Pub. L. 110–234 was repealed by section 4(a) of Pub. L. 110–246.
Statutory Notes and Related Subsidiaries
Effective Date
Enactment of this section and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective , the date of enactment of Pub. L. 110–234, see section 4 of Pub. L. 110–246, set out as a note under section 8701 of this title.
Credits
2008 · 2 acts
- 2008Pub. L. 110–234, title I, § 1308, , 122 Stat. 977
- 2008Pub. L. 110–246, § 4(a), title I, § 1308, , 122 Stat. 1664, 1705.
Show as published
(Pub. L. 110–234, title I, § 1308, , 122 Stat. 977; Pub. L. 110–246, § 4(a), title I, § 1308, , 122 Stat. 1664, 1705.)