§ 7231. — Availability of nonrecourse marketing assistance loans.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 7USC7231]
TITLE 7--AGRICULTURE
CHAPTER 100--AGRICULTURAL MARKET TRANSITION
SUBCHAPTER III--NONRECOURSE MARKETING ASSISTANCE LOANS AND LOAN
DEFICIENCY PAYMENTS
Sec. 7231. Availability of nonrecourse marketing assistance
loans
(a) Nonrecourse loans available
For each of the 1996 through 2002 crops of each loan commodity, the
Secretary shall make available to producers on a farm nonrecourse
marketing assistance loans for loan commodities produced on the farm.
The loans shall be made under terms and conditions that are prescribed
by the Secretary and at the loan rate established under section 7232 of
this title for the loan commodity.
(b) Eligible production
The following production shall be eligible for a marketing
assistance loan under subsection (a) of this section:
(1) In the case of a marketing assistance loan for a contract
commodity, any production by a producer on a farm containing
eligible cropland covered by a production flexibility contract.
(2) In the case of a marketing assistance loan for extra long
staple cotton and oilseeds, any production.
(c) Compliance with conservation and wetlands requirements
As a condition of the receipt of a marketing assistance loan under
subsection (a) of this section, the producer shall comply with
applicable conservation requirements under subtitle B of title XII of
the Food Security Act of 1985 (16 U.S.C. 3811 et seq.) and applicable
wetland protection requirements under subtitle C of title XII of the Act
(16 U.S.C. 3821 et seq.) during the term of the loan.
(d) Additional outlays prohibited
The Secretary shall carry out this subchapter in such a manner that
there are no additional outlays under this subchapter as a result of the
reconstitution of a farm that occurs as a result of the combination of
another farm that does not contain eligible cropland covered by a
production flexibility contract.
(Pub. L. 104-127, title I, Sec. 131, Apr. 4, 1996, 110 Stat. 905.)
References in Text
The Food Security Act of 1985, referred to in subsec. (c), is Pub.
L. 99-198, Dec. 23, 1985, 99 Stat. 1354, as amended. Subtitles B and C
of title XII of the Act are classified generally to subchapters II
(Sec. 3811 et seq.) and III (Sec. 3821 et seq.), respectively, of
chapter 58 of Title 16, Conservation. For complete classification of
this Act to the Code, see Short Title of 1985 Amendment note set out
under section 1281 of this title and Tables.
Section Referred to in Other Sections
This section is referred to in sections 7232, 7233, 7234, 7235,
7237, 7286, 7931, 7934 of this title.
