Sec. 1603. Payment limitations
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/bill/113/hr/2642/enr/section-1603·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 1001 of the Food Security Act of 1985 ( 7 U.S.C. 1308 ) is amended by striking subsections
(b)and
(c)and inserting the following: The total amount of payments received, directly or indirectly, by a person or legal entity (except a joint venture or general partnership) for any crop year under sections 1116 and 1117 and as marketing loan gains or loan deficiency payments under subtitle B of title I of the Agricultural Act of 2014 (other than for peanuts) may not exceed $125,000. The total amount of payments received, directly or indirectly, by a person or legal entity (except a joint venture or general partnership) for any crop year under sections 1116 and 1117 and as marketing loan gains or loan deficiency payments under subtitle B of title I of the Agricultural Act of 2014 for peanuts may not exceed $125,000. . Section 1001(d) of the Food Security Act of 1985 ( 7 U.S.C. 1308(d) ) is amended by striking the marketing assistance loan program or the loan deficiency payment program under title I of the Food, Conservation, and Energy Act of 2008 and inserting the forfeiture of a commodity pledged as collateral for a loan made available under subtitle B of title I of the Agricultural Act of 2014 . Section 1001(f) of the Food Security Act of 1985 ( 7 U.S.C. 1308(f) ) is amended— in paragraph (5)(A), by striking or title XII and inserting , title I of the Agricultural Act of 2014, or title XII ; and in paragraph (6)(A), by striking or title XII and inserting , title I of the Agricultural Act of 2014, or title XII . Section 1001C(a) of the Food Security Act of 1985 ( 7 U.S.C. 1308–3(a) ) is amended by inserting title I of the Agricultural Act of 2014, after 2008, . The amendments made by this section shall apply beginning with the 2014 crop year.
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- 7 USC 1308–3(a)
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