2015 US Code
Title 7 - Agriculture (Sections 1 - 9097)
Chapter 35A - Price Support of Agricultural Commodities (Sections 1421 - 1472)
Subchapter II - Basic Agricultural Commodities (Sections 1441 - 1445k)
Sec. 1441-1a - Marketing certificates for rice
Publication Title | United States Code, 2012 Edition, Supplement 3, Title 7 - AGRICULTURE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 7 - AGRICULTURE CHAPTER 35A - PRICE SUPPORT OF AGRICULTURAL COMMODITIES SUBCHAPTER II - BASIC AGRICULTURAL COMMODITIES Sec. 1441-1a - Marketing certificates for rice |
Contains | section 1441-1a |
Date | 2015 |
Laws In Effect As Of Date | January 3, 2016 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 99-198, title VI, §603, Dec. 23, 1985, 99 Stat. 1429. |
Statutes at Large Reference | 99 Stat. 1429 |
Public and Private Law | Public Law 99-198 |
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Notwithstanding any other provision of law, whenever, during the period beginning August 1, 1986, and ending July 31, 1991, the world price for a class of rice (adjusted to United States qualities and location), as determined by the Secretary of Agriculture, is below the current loan repayment rate for that class of rice, to make United States rice competitive in world markets and to maintain and expand exports of rice produced in the United States, the Commodity Credit Corporation, under such regulations as the Secretary may prescribe, shall make payments, through the issuance of negotiable marketing certificates, to persons who have entered into an agreement with the Commodity Credit Corporation to participate in the program established under this section. Such payments shall be made in such monetary amounts and subject to such terms and conditions as the Secretary determines will make rice produced in the United States available at competitive prices consistent with the purposes of this section, including such payments as may be necessary to make rice in inventory on August 1, 1986, available on the same basis.
(b) Determination of value of certificatesThe value of each certificate issued under subsection (a) shall be based on the difference between—
(1) the loan repayment rate for the class of rice; and
(2) the prevailing world market price for the class of rice, as determined by the Secretary of Agriculture under a published formula submitted for public comment before its adoption.
(c) Commodity Credit Corporation assistance in redemption, marketing, or exchange of certificatesThe Commodity Credit Corporation, under regulations prescribed by the Secretary of Agriculture, may assist any person receiving marketing certificates under this section in the redemption of certificates for cash, or marketing or exchange of such certificates for (1) rice owned by the Commodity Credit Corporation or (2) (if the Secretary and the person agree) other agricultural commodities or the products thereof owned by the Commodity Credit Corporation, at such times, in such manner, and at such price levels as the Secretary determines will best effectuate the purposes of the program established under this section. Notwithstanding any other provision of law, any price restrictions that may otherwise apply to the disposition of agricultural commodities by the Commodity Credit Corporation shall not apply to the redemption of certificates under this section.
(d) Exchange of certificates for commodities and productsInsofar as practicable, the Secretary shall permit owners of certificates to designate the commodities and the products thereof, including storage sites thereof, such owners would prefer to receive in exchange for certificates. If any certificate is not presented for redemption, marketing, or exchange within a reasonable number of days after the issuance of such certificate (as determined by the Secretary), reasonable costs of storage and other carrying charges, as determined by the Secretary, shall be deducted from the value of the certificate for the period beginning after such reasonable number of days and ending with the date of the presentation of such certificate to the Commodity Credit Corporation.
(e) Prevention of adverse effectsThe Secretary of Agriculture shall take such measures as may be necessary to prevent the marketing or exchange of agricultural commodities and the products thereof for certificates under this section from adversely affecting the income of producers of such commodities or products.
(f) Transfer of certificatesUnder regulations prescribed by the Secretary of Agriculture, certificates issued to rice exporters under this section may be transferred to other exporters and persons approved by the Secretary.
(Pub. L. 99–198, title VI, §603, Dec. 23, 1985, 99 Stat. 1429.)
CODIFICATIONSection was enacted as part of the Food Security Act of 1985, and not as part of the Agricultural Act of 1949 which is classified principally to this chapter. For complete classification of the 1949 Act to the Code, see Short Title note set out under section 1421 of this title and Tables.
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