7 USC 9056 - Dairy margin coverage payments

U.S Code last checked for updates: Nov 23, 2024

§ 9056.

Dairy margin coverage payments

(a)

Coverage level threshold and coverage percentage

(1)

Coverage level threshold

(A)

In general

(B)

Applicability

(C)

Second coverage election for tier II

In the case of a participating dairy operation that elects a coverage level threshold of $8.50, $9.00, or $9.50 under subparagraph (A)—

(i)

that coverage level threshold shall apply to the first 5,000,000 pounds of milk marketings included in the covered production elected by the participating dairy operation; and

(ii)

the participating dairy operation shall elect a coverage level threshold that is equal to $4.00, $4.50, $5.00, $5.50, $6.00, $6.50, $7.00, $7.50, or $8.00 to apply to milk marketings in excess of 5,000,000 pounds included in the covered production elected by the participating dairy operation.

(2)

Coverage percentage

(b)

Payment threshold

(c)

Amount of payment

The dairy margin coverage payment for the participating dairy operation shall be determined as follows:

(1)

The Secretary shall calculate the amount by which the coverage level threshold selected by the participating dairy operation exceeds the average actual dairy production margin for the month.

(2)

The amount determined under paragraph (1) shall be multiplied by—

(A)

the coverage percentage selected by the participating dairy operation; and

(B)

the production history of the participating dairy operation divided by 12.

(Pub. L. 113–79, title I, § 1406, Feb. 7, 2014, 128 Stat. 691; Pub. L. 115–123, div. F, § 60101(b)(1)(C), Feb. 9, 2018, 132 Stat. 311; Pub. L. 115–334, title I, § 1401(g), (k)(7), Dec. 20, 2018, 132 Stat. 4513, 4517.)

cite as: 7 USC 9056