Sec. 844. LOAN FORFEITURES OF BURLEY TOBACCO, FLUE-CURED, AND CIGAR BINDER TYPE 54–55.2

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## SEC. 844 LOAN FORFEITURES OF BURLEY TOBACCO, FLUE-CURED, AND CIGAR BINDER TYPE 54–55.2 2Effective during fiscal year 2003, sec. 214 of the Agricultural Assistance Act of 2003 (P.L. 108–7; 117 Stat. 546; Feb. 20, 2003) amended sec. 844. ###

(a)In General Notwithstanding sections 106 through 106B of the Agricultural Act of 1949 (7 U.S.C. 1445 through 1445–2)— ####

(1)a producer-owned cooperative marketing association, without further cost to the association, may fully settle a loan made for the 1999 crop of Burley, Flue-cured, or Cigar Binder Type 54–55 tobacco by forfeiting to the Commodity Credit Corporation the Burley, Flue-cured, or Cigar Binder Type 54–55 tobacco covered by the loan regardless of the condition of the tobacco; ####

(2)any losses to the Commodity Credit Corporation as a result of paragraph (1)— #####

(A)shall not be charged to the No Net Cost Tobacco Account; and #####

(B)shall not affect the amount of any assessment imposed against Burley, Flue-cured, Cigar Binder Type 54–55, or any other kind of tobacco under sections 106 through 106B of the Agricultural Act of 1949 (7 U.S.C. 1445 through 1445–2); and ####

(3)any tobacco forfeited pursuant to this section shall not be— #####

(A)counted for the purpose of determining the Burley, Flue-cured, or Cigar Binder Type 54–55 tobacco quota or allotment for any year under part I of subtitle B of title III of the Agricultural Adjustment Act of 1938 (7 U.S.C. 1311 et seq.); or #####

(B)sold for use in the United States. ###

(b)Emergency Requirement ####

(1)The entire amount necessary to carry out this section shall be available only to the extent that an official budget request for the entire amount, that includes designation of the entire amount of the request as an emergency requirement as defined in the Balanced Budget and Emergency Deficit Control Act of 1985, as amended, is transmitted by the President to the Congress. ####

(2)The entire amount is designated by the Congress as an emergency requirement pursuant to section 251(b)(2)(A) of such Act. * * * * * * *

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117 Stat. 546
7 USC 1445
7 USC 1311

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Sec. 844

LOAN FORFEITURES OF BURLEY TOBACCO, FLUE-CURED, AND CIGAR BINDER TYPE 54–55.2

Stat.117 Stat. 546

Cite7 USC 1445

Cite7 USC 1311

Cites 3Cited by 0 across 0 sources