Tap any paragraph to write a margin note. Your notes collect in the Desk below the text and file under cases with @. The side-by-side margin rail opens on a larger screen.

§
Marginalia
Code · BILL · 113th Congress · H.R. 2642 (Enrolled) — To provide for the reform and continuation of agricultural and other programs of the Department of Agriculture throug... · Sec. 1407

Sec. 1407. Premiums for margin protection program

397 words·~2 min read·/bill/113/hr/2642/enr/section-1407·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

For purposes of participating in the margin protection program, a participating dairy operation shall pay an annual premium equal to the product obtained by multiplying— the coverage percentage elected by the participating dairy operation under section 1406(a)(2); the production history of the participating dairy operation; and the premium per hundredweight of milk imposed by this section for the coverage level selected. For the first 4,000,000 pounds of milk marketings included in the production history of a participating dairy operation, the premium per hundredweight for each coverage level is specified in the table contained in paragraph (2).
Except as provided in paragraph (3), the following annual premiums apply: Coverage Level Premium per Cwt. $4.00 None $4.50 $0.010 $5.00 $0.025 $5.50 $0.040 $6.00 $0.055 $6.50 $0.090 $7.00 $0.217 $7.50 $0.300 $8.00 $0.475 The premium per hundredweight specified in the table contained in paragraph
(2)for each coverage level (except the $8.00 coverage level) shall be reduced by 25 percent for each of calendar years 2014 and 2015. For milk marketings in excess of 4,000,000 pounds included in the production history of a participating dairy operation, the premium per hundredweight for each coverage level is specified in the table contained in paragraph (2). The following annual premiums apply: Coverage Level Premium per Cwt. $4.00 None $4.50 $0.020 $5.00 $0.040 $5.50 $0.100 $6.00 $0.155 $6.50 $0.290 $7.00 $0.830 $7.50 $1.060 $8.00 $1.360 The Secretary shall provide more than 1 method by which a participating dairy operation may pay the premium required under this section in any manner that maximizes participating dairy operation payment flexibility and program integrity. In the case of a participating dairy operation that first registers to participate in the margin protection program for a calendar year after the start of the calendar year, the participating dairy operation shall pay a pro-rated premium for that calendar year based on the portion of the calendar year for which the participating dairy operation purchases the coverage. A participating dairy operation in the margin protection program for a calendar year shall be legally obligated to pay the applicable premium for that calendar year, except that the Secretary may waive that obligation, under terms and conditions determined by the Secretary, for any participating dairy operation in the case of death, retirement, permanent dissolution of a participating dairy operation, or other circumstances as the Secretary considers appropriate to ensure the integrity of the program.
★   the supreme law of the land   ★
Don't Tread on Me
E Pluribus Unum — out of many, one

"If you don't know your rights, you don't have any."

Marginalia · a citizen's law index
A research desk, not legal advice. Always read the cited source before relying on a summary.
Questions or an issue? support@self-law.org
disclaimerMarginalia is a research index, not a law firm. Nothing on this site is legal, tax, or financial advice and no attorney–client relationship is formed by using it. Statutes, regulations, and case law change; summaries, search results, AI output, and member posts may be incomplete, out of date, or wrong. Any interpretation drawn from material on this site should be validated by a licensed attorney in your jurisdiction before you act on it.