7 USC 7213 - Amounts available for contract payments

U.S Code last checked for updates: Jan 18, 2025

§ 7213.

Amounts available for contract payments

(a)

Fiscal year amounts

The Secretary shall, to the maximum extent practicable, expend the following amounts to satisfy the obligations of the Secretary under all contracts:

(1)

For fiscal year 1996, $5,570,000,000.

(2)

For fiscal year 1997, $5,385,000,000.

(3)

For fiscal year 1998, $5,800,000,000.

(4)

For fiscal year 1999, $5,603,000,000.

(5)

For fiscal year 2000, $5,130,000,000.

(6)

For fiscal year 2001, $4,130,000,000.

(7)

For fiscal year 2002, $4,008,000,000.

(b)

Allocation

The amount made available for a fiscal year under subsection (a) shall be allocated as follows:

(1)

For wheat, 26.26 percent.

(2)

For corn, 46.22 percent.

(3)

For grain sorghum, 5.11 percent.

(4)

For barley, 2.16 percent.

(5)

For oats, 0.15 percent.

(6)

For upland cotton, 11.63 percent.

(7)

For rice, 8.47 percent.

(c)

Adjustment

The Secretary shall adjust the amounts allocated for each contract commodity under subsection (b) for a particular fiscal year by—

(1)

adding an amount equal to the sum of all repayments of deficiency payments required under section 114(a)(2) of the Agricultural Act of 1949 (7 U.S.C. 1445j(a)(2)) for the commodity;

(2)

adding an amount equal to the sum of all refunds of contract payments received during the preceding fiscal year under section 7216 of this title for the commodity; and

(3)

subtracting an amount equal to the amount, if any, necessary during that fiscal year to satisfy payment requirements for the commodity under sections 103B, 105B, or 107B of the Agricultural Act of 1949 for the 1994 and 1995 crop years.

(d)

Additional rice allocation

(e)

Exclusion of certain amounts from contract payments

(f)

Effect of payment limitation

(Pub. L. 104–127, title I, § 113,

cite as: 7 USC 7213