7 USC 7953 - Availability of direct payments for peanuts

U.S Code last checked for updates: Nov 22, 2024

§ 7953.

Availability of direct payments for peanuts

(a)

Payment required

(1)

2002 crop year

(2)

Subsequent crop years

(b)

Payment rate

(c)

Payment amount for 2002 crop year

The amount of the direct payment to be paid to an historic peanut producer for the 2002 crop of peanuts shall be equal to the product of the following:

(1)

The payment rate specified in subsection (b).

(2)

The payment acres of the historic peanut producer.

(3)

The average peanut yield determined under section 7952(a)(1) of this title for the historic peanut producer.

(d)

Payment amount for subsequent crop years

The amount of the direct payment to be paid to the producers on a farm for the 2003 through 2007 crops of peanuts shall be equal to the product of the following:

(1)

The payment rate specified in subsection (b).

(2)

The payment acres on the farm.

(3)

The payment yield for the farm.

(e)

Time for payment

(1)

In general

The Secretary shall make direct payments—

(A)

in the case of the 2002 crop year, as soon as practicable after May 13, 2002; and

(B)

in the case of each of the 2003 through 2007 crop years, not later than September 30 of the calendar year in which the crop is harvested.

(2)

Advance payments

(3)

Repayment of advance payments

(Pub. L. 107–171, title I, § 1303, May 13, 2002, 116 Stat. 170; Pub. L. 109–171, title I, § 1102(b), Feb. 8, 2006, 120 Stat. 5.)

cite as: 7 USC 7953