Sec. 2. Sugar program
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Section 156 of the Federal Agriculture Improvement and Reform Act of 1996 ( 7 U.S.C. 7272 ) is amended by striking subsections
(a)and
(b)and inserting the following new subsections: The Secretary shall make loans available to processors of domestically grown sugarcane at a rate equal to— 18.75 cents per pound for raw cane sugar for the 2018 crop year; 18.50 cents per pound for raw cane sugar for the 2019 crop year; 18.25 cents per pound for raw cane sugar for the 2020 crop year; and 18.00 cents per pound for raw cane sugar for the 2021 through 2023 crop years. The Secretary shall make loans available to processors of domestically grown sugar beets at a rate equal to 128.5 percent of the loan rate per pound of raw cane sugar for the applicable crop year under subsection
(a)for each of the 2018 through 2023 crop years. . Section 156(f) of the Federal Agriculture Improvement and Reform Act of 1996 ( 7 U.S.C. 7272(f) ) is amended— in the subsection heading, by inserting after While Ensuring Adequate Supplies at Reasonable Prices ; and Forfeitures in paragraph (1), by inserting ensure adequate supplies of sugar at reasonable prices and after shall . Section 156(f) of the Federal Agriculture Improvement and Reform Act of 1996 ( 7 U.S.C. 7272(f) ) is further amended by adding at the end the following new paragraph: Whenever the Secretary finds that, notwithstanding paragraph (1), the program established under this section has resulted in a net cost to the Federal Government, the Secretary shall recover, in a manner determined by the Secretary in regulations prescribed under subparagraph (C), such net cost from processors of domestically grown sugarcane and sugar beets. The Secretary may provide for single or multiple payments by each processor of domestically grown sugarcane or sugar beets for the recovery of such net cost under this paragraph. In this paragraph, the term net cost refers to a situation in which Federal expenditures (including disbursement of loan proceeds) for a fiscal year pursuant to the program established under this section exceed receipts under such program (including loan repayments) for the same fiscal year. The Secretary shall issue regulations to carry out this paragraph. This paragraph shall apply beginning with the 2019 crop year. . Section 156(i) of the Federal Agriculture Improvement and Reform Act of 1996 ( 7 U.S.C. 7272(i) ) is amended by striking 2018 and inserting 2023 .
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