[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 7USC7237]
TITLE 7--AGRICULTURE
CHAPTER 100--AGRICULTURAL MARKET TRANSITION
SUBCHAPTER III--NONRECOURSE MARKETING ASSISTANCE LOANS AND LOAN
DEFICIENCY PAYMENTS
Sec. 7237. Availability of recourse loans for high moisture feed
grains and seed cotton and other fibers
(a) High moisture feed grains
(1) Recourse loans available
For each of the 1996 through 2002 crops of corn and grain
sorghum, the Secretary shall make available recourse loans, as
determined by the Secretary, to producers on a farm containing
eligible cropland covered by a production flexibility contract who--
(A) normally harvest all or a portion of their crop of corn
or grain sorghum in a high moisture state;
(B) present--
(i) certified scale tickets from an inspected, certified
commercial scale, including a licensed warehouse, feedlot,
feed mill, distillery, or other similar entity approved by
the Secretary, pursuant to regulations issued by the
Secretary; or
(ii) field or other physical measurements of the
standing or stored crop in regions of the United States, as
determined by the Secretary, that do not have certified
commercial scales from which certified scale tickets may be
obtained within reasonable proximity of harvest operation;
(C) certify that they were the owners of the feed grain at
the time of delivery to, and that the quantity to be placed
under loan under this subsection was in fact harvested on the
farm and delivered to, a feedlot, feed mill, or commercial or
on-farm high-moisture storage facility, or to a facility
maintained by the users of corn and grain sorghum in a high
moisture state; and
(D) comply with deadlines established by the Secretary for
harvesting the corn or grain sorghum and submit applications for
loans under this subsection within deadlines established by the
Secretary.
(2) Eligibility of acquired feed grains
A loan under this subsection shall be made on a quantity of corn
or grain sorghum of the same crop acquired by the producer
equivalent to a quantity determined by multiplying--
(A) the acreage of the corn or grain sorghum in a high
moisture state harvested on the producer's farm; by
(B) the lower of the farm program payment yield or the
actual yield on a field, as determined by the Secretary, that is
similar to the field from which the corn or grain sorghum was
obtained.
(3) ``High moisture state'' defined
In this subsection, the term ``high moisture state'' means corn
or grain sorghum having a moisture content in excess of Commodity
Credit Corporation standards for marketing assistance loans made by
the Secretary under section 7231 of this title.
(b) Recourse loans available for seed cotton
(1) Upland cotton
For each of the 1996 through 2002 crops of upland cotton, the
Secretary shall make available recourse seed cotton loans, as
determined by the Secretary, to producers on a farm containing
eligible cropland covered by a production flexibility contract.
(2) Extra long staple cotton
For each of the 1996 through 2002 crops of extra long staple
cotton, the Secret
