Sec. 205. PAYMENTS IN LIEU OF LOAN DEFICIENCY PAYMENTS
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## SEC. 205 PAYMENTS IN LIEU OF LOAN DEFICIENCY PAYMENTS ###
(a)Eligible Producers Effective for the 2001 crop year, in the case of a producer that would be eligible for a loan deficiency payment under section 135 of the Agricultural Market Transition Act (7 U.S.C. 7235) for wheat, barley, or oats, but that elects to use acreage planted to the wheat, barley, or oats for the grazing of livestock, the Secretary shall make a payment to the producer under this section if the producer enters into an agreement with the Secretary to forgo any other harvesting of the wheat, barley, or oats on that acreage. ###
(b)Payment Amount The amount of a payment made to a producer on a farm under this section shall be equal to the amount determined by multiplying— ####
(1)the loan deficiency payment rate determined under section 135(c) of the Agricultural Market Transition Act (7 U.S.C. 7235(c)) in effect, as of the date of the agreement, for the county in which the farm is located; by ####
(2)the payment quantity determined by multiplying— #####
(A)the quantity of the grazed acreage on the farm with respect to which the producer elects to forgo harvesting of wheat, barley, or oats; and #####
(B)the greater of— ######
(i)the established yield for the crop on the farm; or ######
(ii)the average county yield per harvested acre of the crop, as determined by the Secretary. ###
(c)Time, Manner, and Availability of Payment ####
(1)Time and manner A payment under this section shall be made at the same time and in the same manner as loan deficiency payments are made under section 135 of the Agricultural Market Transition Act (7 U.S.C. 7235), except that the payment shall be made not later than September 30, 2001. ####
(2)Availability The Secretary shall establish an availability period for the payment authorized by this section that is consistent with the availability period for wheat, barley, and oats established by the Secretary for marketing assistance loans authorized by subtitle C of the Agricultural Market Transition Act (7 U.S.C. 7231 et seq.). ###
(d)Regulations The Secretary shall promulgate under section 263 such regulations as are necessary to administer the payments authorized by this section in a fair and equitable manner with respect to producers of wheat and feed grains that do not receive a payment under this section. ###
(e)Funding The Secretary shall use funds of the Commodity Credit Corporation to carry out this section.
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