Sec. 1603. PAYMENT LIMITATIONS
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## SEC. 1603 PAYMENT LIMITATIONS ###
(a)In General 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: > > ### “(b) Limitation on Payments for Covered Commodities (other Than Peanuts) > > 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. > > > ### “(c) Limitation on Payments for Peanuts > > 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.” > . ###
(b)Conforming Amendments ####
(1)Limitation on applicability 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”. ####
(2)Treatment of federal agencies and state and local governments Section 1001(f) of the Food Security Act of 1985 (7 U.S.C. 1308(f)) is amended— #####
(A)in paragraph (5)(A), by striking “or title XII” and inserting “, title I of the Agricultural Act of 2014, or title XII”; and #####
(B)in paragraph (6)(A), by striking “or title XII” and inserting “, title I of the Agricultural Act of 2014, or title XII”. ####
(3)Foreign persons ineligible 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,”. ###
(c)Application **[**[7 U.S.C. 1308 note](/us/usc/t7/s1308)**]** The amendments made by this section shall apply beginning with the 2014 crop year.
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