Sec. 1201. Availability of nonrecourse marketing assistance loans for loan commodities
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In this subtitle, the term loan commodity means wheat, corn, grain sorghum, barley, oats, upland cotton, extra long staple cotton, long grain rice, medium grain rice, peanuts, soybeans, other oilseeds, graded wool, nongraded wool, mohair, honey, dry peas, lentils, small chickpeas, and large chickpeas. For each of the 2019 through 2023 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 marketing assistance loans shall be made under terms and conditions that are prescribed by the Secretary and at the loan rate established under section 1202 for the loan commodity. The producers on a farm shall be eligible for a marketing assistance loan under subsection
(b)for any quantity of a loan commodity produced on the farm. As a condition of the receipt of a marketing assistance loan under subsection (b), 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 that Act ( 16 U.S.C. 3821 et seq.) during the term of the loan. This subsection shall apply only to producers of peanuts. A marketing assistance loan under this section, and loan deficiency payments under section 1205, may be obtained at the option of the producers on a farm through— a designated marketing association or marketing cooperative of producers that is approved by the Secretary; or the Farm Service Agency. As a condition on the approval by the Secretary of an individual or entity to provide storage for peanuts for which a marketing assistance loan is made under this section, the individual or entity shall agree— to provide the storage on a nondiscriminatory basis; and to comply with such additional requirements as the Secretary considers appropriate to accomplish the purposes of this section and promote fairness in the administration of the benefits of this section. To ensure proper storage of peanuts for which a loan is made under this section, the Secretary shall pay handling and other associated costs (other than storage costs) incurred at the time at which the peanuts are placed under loan, as determined by the Secretary. The Secretary shall— require the repayment of handling and other associated costs paid under subparagraph
(A)for all peanuts pledged as collateral for a loan that is redeemed under this section; and pay storage, handling, and other associated costs for all peanuts pledged as collateral that are forfeited under this section. A marketing association or cooperative may market peanuts for which a loan is made under this section in any manner that conforms to consumer needs, including the separation of peanuts by type and quality. The Secretary may implement any reimbursable agreements or provide for the payment of administrative expenses under this subsection only in a manner that is consistent with those activities in regard to other loan commodities.
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Sec. 1201
Availability of nonrecourse marketing assistance loans for loan commodities
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